Five-year gold residence visas for 20 Dubai property investors

By Eudore R. Chand

Their assets exceed Dh200 million

DUBAI 12 July 2019: Dubai Land Department (DLD) and the General Directorate of Residency and Foreigners Affairs (GDRFA), granted gold visas to 20 investors belonging to 12 nationalities, whose value of direct real estate investments in Dubai exceeds Dh200 million.

A handing over ceremony was held at DLD attended by Major General Mohammed Al Marri, Director General of GDRFA Dubai and Sultan Butti bin Mejren, Director General of DLD.

Five-year visas were given to real estate investors whose individual investments in the local real estate market exceed Dh5 million and are registered at DLD. This privilege also benefits their family members — wives and children. The conditions for obtaining the golden visa without a sponsor includes investing in one or more existing properties that satisfy the total value condition, regardless of whether the property is owned by an individual or a group of investors.

The list of countries the investors belong to includes Tunisia, USA, Dominica, India, Iraq, China, Libya, Jordan, Iran, Pakistan, Kazakhstan, and Saint Kitts & Nevis.

The investors were granted the visas through Cube Centre. All government and private entities are present at Cube Centre, including GDRFA, Dubai Department of Economic Development (DED), Emirates Identity Authority, police station, a medical centre for medical examinations, a printing office, and insurance companies.