Experts weigh-in on long term UAE visas for investors

KARIM SAHIB / AFP

You would need to invest AED 5 million in the UAE's property market to be eligible for a long-term residency visa in the emirates.

Over the weekend five-year visas were given to 20 investors in Dubai whose individual investments in the local real estate market surpassed that the magic number.

The Dubai Land Department (DLD) in coordination with the General Directorate of Residency and Foreigners Affairs (GDRFA) handed out the visas to individuals belonging to a dozen different nationalities.

Their value of direct real estate investments collectively exceeded AED 200 million.

Murray Strang, Head of Savills in Dubai, says it's too early to tell if offering long-term visas to those who spend on the UAE's property market will encourage more people to invest.

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