UAE plans to implement Unified Freehold Property Regulation
Sunday, December 21, 2008
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UAE has placed a draft legislation that restricts expatriates from automatically acquiring residency visas through freehold property ownership, revealed a Federal National Council (FNC) member.
The Council will soon submit draft legislation on freehold properties to the government, which is hoped to unify the divergent law pertaining to the sector in the seven emirates.
One of the Council members, Dr. Abdul Rahim Shaheen, said that the council was considering implementation of the proposed legislation as quickly as possible.
With seven emirates handling freehold property under various rules, there has been utter chaos in the sector. The government plans to issue a federal regulation which unifies rules on dealing with foreigners with regard to freehold of properties and imposes strict punishments against those who exploit ownership for generating public interest.
He said that the issue has endangered national interest and UAE's identity as the Emiratis are being outnumbered by expatriates, due to which, few residents have begun demanding rights.
Expatriates are not entitled to 25-year residency through owernship of a property, clarified a senior official at the Ministry of Interior.
The Director of Legal Department, Ministry of Interior, Col. Rashid Sultan Al Khider, when speaking to the media, said that the Naturalization and Residency Law does not have a clause that permits expatriate property owners to obtain a 25-year residency visa.
This clarification by the Ministry regarding implementation of a new law by FNC, came, following the practice of several property developers advertising residency visas with their property sales.
Col. Rashid said that such advertisements by property companies are not right, and is in violationg of Naturalization and Residency Law, which stipulates expats in the UAE are here either for study, work, medical treatment, or tourism or are sponsored by family members.
Therefor, the FNC's plan to implement a regulation on freehold property coincides with the current situation, wherein, property marketing companies are adopting wrong practices to hit the society.
The Council will soon submit draft legislation on freehold properties to the government, which is hoped to unify the divergent law pertaining to the sector in the seven emirates.
One of the Council members, Dr. Abdul Rahim Shaheen, said that the council was considering implementation of the proposed legislation as quickly as possible.
With seven emirates handling freehold property under various rules, there has been utter chaos in the sector. The government plans to issue a federal regulation which unifies rules on dealing with foreigners with regard to freehold of properties and imposes strict punishments against those who exploit ownership for generating public interest.
He said that the issue has endangered national interest and UAE's identity as the Emiratis are being outnumbered by expatriates, due to which, few residents have begun demanding rights.
Expatriates are not entitled to 25-year residency through owernship of a property, clarified a senior official at the Ministry of Interior.
The Director of Legal Department, Ministry of Interior, Col. Rashid Sultan Al Khider, when speaking to the media, said that the Naturalization and Residency Law does not have a clause that permits expatriate property owners to obtain a 25-year residency visa.
This clarification by the Ministry regarding implementation of a new law by FNC, came, following the practice of several property developers advertising residency visas with their property sales.
Col. Rashid said that such advertisements by property companies are not right, and is in violationg of Naturalization and Residency Law, which stipulates expats in the UAE are here either for study, work, medical treatment, or tourism or are sponsored by family members.
Therefor, the FNC's plan to implement a regulation on freehold property coincides with the current situation, wherein, property marketing companies are adopting wrong practices to hit the society.
Labels: Freehold Property, Property Law, UAE
5 Comments:
commented by 
Anonymous, 9:23 AM
Anonymous, 9:23 AM
Why are Gulf States sensitive to expats? Countries like America and Australia invite expats to live there and give them green cards, residency permits and nationalities. All GCC countries would not have reached the status they are in now without expatriates. The norm in all world countries is that one gets residence upon buying a property. Why should GCC countries deviate from that norm?
I have invested in one developer's project here which had failed earlier this year. PR visa has been on the list,too...It made me very sad that day but now when I see the latest "progress" in the legislation, I can only say - it was just in time and for good!
At least I know how I would be treated here in the future...
At least I know how I would be treated here in the future...
i agree with the 2nd comment
Some countries take a better moral stand than other countries. Being moral is being normal. Its not about status its about being fair and just. Thats why expats chose to stay in GCC countries much longer than they originally intended and get frustated if things do not go their way. However,changes in visa regulation is aiming to be fairer for all.
This is another example of reactionary and contradictory policy. Does the government want the country to grow or not?