UAE considering increasing estate visa of people investing in property

05/07/2011 - Dubai Investment News Posted by Neil King
UAE considering increasing estate visa of people investing in property

People looking for Dubai property for sale could be interested to hear that the UAE is considering increasing the estate visa of people investing more than Dh1 million in property.Discussions have been on-going for nearly two months in regards to increasing the estate visa for property investors from six months to three years, including sponsoring their families to stay in that time, reports Emirates 24-7.A source told the news provider that while the UAE Federal government has already announced it will be extending the visa for real-estate investors, plans for families are still under discussion."A number of proposals were discussed at the meeting with ministry officials and one of the proposals was to restrict stay of the property owner to nine or ten months in a year. However, the final regulation is yet to be drafted," the source said."The longer duration was requested to allow investors, who want their children to attend schools, have enough time."A report by Global Investment House announced last week (June 30th) that the Dubai rental picture is improving.