Dubai: “Golden” visas have been issued to 20 investors whose real estate investments in Dubai have topped Dh200 million in total. These investors belong to 12 nationalities.
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The move represents the latest reforms Dubai has brought to the property market, and allows the holders to have 5-year visas for having acquired individual assets valued at Dh5 million and more. Plus, these properties should be registered with Dubai Land Department.
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Apart from those from India, Pakistan, Iraq and Iran, the investors hold passports issued by Tunisia, the US, Commonwealth of Dominica, China, Libya, Jordan, Kazakhstan, and Saint Kitts and Nevis.
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The visa privileges also benefit the wives and children.
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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.
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The investors were granted the visas through Cube Centre.