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Freehold residence visa confusion rages

(News - Detail)

Date : 31.05.2008

Buyers of freehold properties in Dubai are accusing developers of depriving them of `promised` residence visas - a tool some developers still use to lure investors. Developers are passing the buck to master developers Nakheel, Emaar and Dubai Properties. Residents of International City`s Riviera District are worried that there is a breach of contract since the residency visas have not been issued as contractually promised over a year ago.

According to residents, the developer of the Riviera Lakeview Apartments, B&M, has been involved in a dispute with master developer Nakheel over registration, and this has delayed visa proceedings. However, an official at B&M said that residents must understand that they cannot have residency visas until their units have been officially registered with the Land Department and the title deeds produced. The units have to be registered first and then they will provide the residency visas.

How it works: Freehold ownership in selected areas of Dubai was first introduced in May 2002, sparking the real estate boom. The law states, "If the homeowner has no alternative means of sponsorship for a residence visa, the first owner may be sponsored by your master developer [for example Nakheel, Dubai Properties or Emaar] for residency in Dubai, UAE, subject to the applicable immigration laws of the country." The purchase of a freehold property apparently does not automatically qualify for a resident visa.

Resident visas for freehold buyers are subject to conditions which include that you cannot seek employment or run a business and one would assume the buyer has sufficient funds to support himself. People should not rely on the master developer for their residency visas. Most people in Dubai are active in the workplace and have residency visa through their employer. But there is a select group which is not active.



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