JAFZA vs RAK vs AJMAN

[Nicholas Van Orton]

Thanks for taking the time Nicholas!

I thought that along with the 5M AED for 5 years and 10M AED for 10 years gold visa, 1M AED allowed a property owner to get 3 year resident permits. Has that been scrapped completely? Source: Residency Visa Rules (2021) at a glance for Dubai Property Investors and Thinking of Buying A UAE Property Visa? (from April 2021)

I understand that this might not be advisable, but is the option still available? I might have to buy properties anyway..because I might end up spending 5-10 years in the UAE once I confirm it is a good solution for what I am trying to do.

The official DLD page on this is: Dubai Land Department - Request for a residency visa for real estate owners - as you'll see in it, and as mentioned, the ante has been raised to AED5MM. The links you posted are from RE developers which are not accurate, and are indeed misleading...as even though the AED1MM in theory opens the door for you to get residency, it only puts you as a ticket in a sort of lottery pot where your number can be drawn out or not...basically that's 'eligible' for you...and is not working anymore...in the UAE, it is better to always get to the source of any law/rule, etc, as the only reliable place to gather info. As @Fred mentioned in another post, they are changing rules on the go, so the only way to keep up with things is to check official sources time and again; vendors of any sort aren't recommended.

If you're planning on staying/living in the UAE, then I for one don't see any issues on requesting residency based on property purchase...after all, you'll need a place to live, right? However, and depending on your personal budget/preference (how much you care for the value-for-money ratio), I would consider drawing some numbers on having a freezone Co and renting an apartment in a not-so-hot spot (JLT, JVC or even the new areas around Jabal Ali or Creek/Deira), which offer far better value than the outright purchase of brand new (you want to buy as close to new as possible, construction materials and processes aren't that reliable there despite all the glitter you may see from the outside, believe me) hyped-up units, which will fast deteriorate in value over time, let alone the service and renovation costs, which all add up to the total bill. I'm just talking from my own experience and view of the RE market there, anyone's entitled to their own opinion...but do some good research first.

Hope this helps.

NVO

 

[andrew28fl]

The official DLD page on this is: Dubai Land Department - Request for a residency visa for real estate owners - as you'll see in it, and as mentioned, the ante has been raised to AED5MM. The links you posted are from RE developers which are not accurate, and are indeed misleading...as even though the AED1MM in theory opens the door for you to get residency, it only puts you as a ticket in a sort of lottery pot where your number can be drawn out or not...basically that's 'eligible' for you...and is not working anymore...in the UAE, it is better to always get to the source of any law/rule, etc, as the only reliable place to gather info. As @Fred mentioned in another post, they are changing rules on the go, so the only way to keep up with things is to check official sources time and again; vendors of any sort aren't recommended.

If you're planning on staying/living in the UAE, then I for one don't see any issues on requesting residency based on property purchase...after all, you'll need a place to live, right? However, and depending on your personal budget/preference (how much you care for the value-for-money ratio), I would consider drawing some numbers on having a freezone Co and renting an apartment in a not-so-hot spot (JLT, JVC or even the new areas around Jabal Ali or Creek/Deira), which offer far better value than the outright purchase of brand new (you want to buy as close to new as possible, construction materials and processes aren't that reliable there despite all the glitter you may see from the outside, believe me) hyped-up units, which will fast deteriorate in value over time, let alone the service and renovation costs, which all add up to the total bill. I'm just talking from my own experience and view of the RE market there, anyone's entitled to their own opinion...but do some good research first.

Hope this helps.

NVO

Wow..truly eye opening. I am going to re-read your message in the morning again and really register it in my brain Thanks again..much appreciated.

 

[fbsworld]

They are professional but you forgot to mention that with them you get your company tied to them permanently. Their pricing is tricky for a reason. I see no benefits e.g. incorporating Creative City Fujairah company with Creative Zone if exactly the same can be done via official means, which I provided earlier (or independent agents) cheaper.

I suggest you to used freezonemarket.ae: you have no agent fee!

 

[sonato]

I would be really interested in learning what OP actually did, where did you setup your company and where did you get banking?

Who have you been using, if anyone, to form the company in the UAE and open a bank account.