The UAE residence visa allows you to live legally in the country and is issued for up to 10 years. It can be renewed an unlimited number of times: in fact, a foreigner has the opportunity to be a resident of the Emirates for life.
The UAE’s Golden Visa is a special type of a long-term residence visa in the Arab Emirates. It is granted for five or ten years to foreign entrepreneurs, investors, property owners and academics. The Golden Visa allows expats to live and run business freely in the UAE, open a local bank account and become a tax resident in the country with a comfortable tax regime.
On 8 September, Tranio’s client Svetlana and her family bought a two-storey four-bedroom apartment on the secondary market of Alanya for 150,000 euro — the money Svetlana got after selling a two-bedroom apartment in the centre of Samara.
Kirill approached Tranio with a request to find investment property in Dubai. He had already been living in two cities — Moscow and Dubai — for the past few years. This spring, our client made the final decision to settle in the UAE, buy an apartment there and relocate his business to the Emirates.
Many foreigners buy property in Dubai during the construction phase in order to benefit from the growth of its value after the building’s commission. Tranio's client Stanislav did the same and chose for his investment an under-construction project Safa Two by DAMAC. Stanislav bought four apartments worth several million US dollars and closed the deal remotely.
In April, due to a particularly high demand the UAE government relaxed a number of rules regarding the issuance of residence permits to foreigners.
In the spring of 2021, Maksim, an investor from Russia, invested 3.2 million euro in a coastal villa in Bodrum. Revalued in June 2022, the villa has risen in price by 19% in euro. The investment did an excellent job at protecting the capital even without rentals. Maksim with his wife and child are spending their second season there, inviting friends and relatives, travelling to Turkey on a visa-free basis.
There are many cases when foreigners living in the Emirates need to provide the expiry date of their residence visas. For example, it is frequently required by local banks, hotels and government agencies. Imagine how distressing it is to realise that you have forgotten your passport – exactly 10 minutes before your long-waited appointment!
Property maintenance in Turkey is cheaper for owners than in most European countries, and the cost of living in popular Turkish resorts is lower than in Bulgarian ones.
I should warn you, my deal took place during a time of rapid change, not only in foreign policy and economics, but also in my personal life. Over the past 6 months, I have managed to do the following: decide against buying an apartment in Turkey; change my mind and buy it under the influence of external circumstances; change my plans for this apartment; get a job in another country (not Turkey).
The key feature of instalment plans from Turkish developers is that they can be issued even for completed projects. An instalment period of up to three years and a down payment of 25–50% are typical conditions for the Turkish market.
The UAE offers a programme of getting UAE residency (a long-term visa) by investment. The UAE programme has its specifics, allows for investment options, and imposes certain criteria on eligible investors in 2023.
A Dubai residence visa is similar to a residence permit and allows you to stay legally in the UAE for a long time for work, study or business purposes.
The article provides the guidelines on setting up a legal entity in the UAE and applying for a residence permit as a company founder. Further, it discusses the advantages and downsides of main entity types for doing business in Dubai, in the UAE and worldwide in 2023.
Vladimir recites how he and his wife have managed to pass under the old rules of Turkish citizenship by investment programme at the very last moment before the minimum threshold has been increased from 250,000 to 400,000 US dollars.