411 on Al hamra 12 year residency visa UAE

[andrew28fl]

Came across this article and wanted to see if anyone had any experience or input on this option. Sounds almost too good to be true considering starting price of 292k AED for apartments. Not posting the links cause I am not sure if I am allowed to put links in the posts.​

AL HAMRA IS OFFERING 12-YEAR RESIDENCY VISA ON PURCHASE OF RESIDENTIAL UNITS IN RAS AL KHAIMAH​

Al Hamra, the leading real estate developer, services provider and investment company in the Northern Emirates, in partnership with Ras Al Khaimah Economic Zone (RAKEZ), is offering investors an unparalleled opportunity to secure a 12-year residency visa and a business licence when they purchase a ready-to-move-in seafront or golf-course view home in Al Hamra Village or Bab Al Bahr, two award-winning master-planned communities by Al Hamra, set in the scenic emirate of Ras Al Khaimah.

As part of the package, investors will enjoy exceptional incentives and benefits including a 12-year UAE residency visa, a business licence to undertake any of the hundreds of business activities as per the investor's choice, an additional partner visa and a flexi-desk with modern amenities to conduct business seamlessly.

 

[troubled soul]

Home with a visa: Why are property-linked visa offers back in focus in UAE?

https://gulfnews.com/business/prope...a-offers-back-in-focus-in-uae-1.1613621211996

 

[JohnLocke]

Thanks for sharing, we had similar discussion around a few times but none with a‌ direct link to something where we can read details thu&¤#

 

[bibing]

For the same reason they were offered the first time around:‍ The real estate market is at its bottom, to say the least.
The only way⁠ to revive the market is to attract more people to buy in some way

 

[CaptK]

What they are actually doing is in effect becoming your sponsor (PRO) which you pay‌ a fee for. They wave this fee in lieu of you buying a property for‍ 12 years.

That way it bypases the residency visa by property purchase requirements. Many developers⁠ do this but don't advertise it.

You get a business license and you can trade.⁤ Bank account is easier to get as you have substance.

 

[andrew28fl]

Thank you @CaptK. What happens after the 12 year period in this case? I⁢ have asked them the same question, but would be good to know. Seems like their︀ cheapest option, 292k AED apartment, is already sold out according to New 12-year UAE Residence︁ Visa Initiative Drives Record Sales of Homes in Ras Al Khaimah.

 

[Fred]

Hehehe - what a surprise.

No really - make the breakdown and you⁤ pay effectively 10k$/year to have a residence visa - that's double compared to the Residence⁣ Visa through company.

Additional you have this property you need to maintain and pay housing⁢ fees. If you don't want to live in you need to rent them - check︀ the property market upfront - basically the property market in Ras Al Khaimah is limited︁ to this two projects.

I recommend you check the Area and property upfront I'm 100%︂ sure it will change your thinking.

 

[troubled soul]

Property Service/Maintance Charges are as high as Crazy.

 

[CaptK]

Your on your own lol.
You just have to renew the company yourself, with all‌ the fees associated.

 

[andrew28fl]

Thanks @CaptK. I have sent an‍ email to Al Hamra, but haven't heard back. I will update this threat once I⁠ have more details.

 

[ShillGates]

They are at the bottom alright - ever since the imf came by to tell⁤ them to clean up their act to stop the gulfstreams full of cash landing there.⁣

The uae - it’s just one big ponzi scheme as far as I am concerned⁢

 

[troubled soul]

True,
The best and Hasslefree solution for‍ longtime is to "Register Freezone company".
Any Other solution will be complex and time-consuming.