Earlier in August, Emirates Business reported that property buyers in Ajman will now be given residence visas after master developers gave a written assurance to that effect to project developers in the emirate.
According to the article, the visas will be valid for one year and will have to be renewed annually.
Property developers said that they are entering into agreements with the master developers with a clear mention of assurances from the latter on the issuance of visas. Most of the master developers in Ajman are government-owned.
The residence visa for property buyers will be granted only after the investor gets possession of the apartment and under the condition that the developer issues a no-objection letter. The visa will cost proximately Dh1,500 and has to be renewed in Ajman every year.
Christina Cabadling, president of BSEL Infrastructure Realty, commented: “We have it in witting that master developers will be granting residence visas to our buyers.”
BSEL is developing seven high-rise towers in Emirates City, that will comprise of approximately 5000 apartments. The firm has already launched five towers and will be launching another two soon.
Lately controversial information regarding the visas for property buyers in Dubai was circulating in the media.