Daijiworld Media Network - Dubai (SHP)

Dubai, Jul 12: Dubai Land Department (DLD), along with the General Directorate of Residency and Foreigners Affairs (GDRFA) granted golden visas to 20 investors belonging to 12 different nationalities. These investors had a value of direct real estate investments exceeding AED 200 million.

However, there exists certain conditions that are needed to be fulfilled in order to qualify for the golden visa, an investor needs to invest in one or more existing properties. This investment can be regardless of whether the property is owned by an individual or a group of investors. The list of countries the 20 investors belonged to were; Tunisia, America, Commonwealth of Dominica, India, Iraq, China, Libya, Jordan, Iran, Pakistan, Kazakhstan, and Saint Kitts and Nevis.

Major General Mohammed Al Marri, Director General of GDRFA, Dubai; Sultan Butti bin Mejren, Director General of DLD; CEOs and senior directors from public and private sectors were also present during the event.

Al Marri said, "The UAE Cabinet’s decision to grant golden visas comes in line with the objectives of UAE Vision 2021 to achieve an economy based on flexibility, diversity, and innovation. GDRFA provided a number of investors with a five-year golden visa in cooperation and coordination with DLD."