Gulf News is pressing on with reports about what they present as the great new residence visa for foreign property owners.
As I pointed out last Wednesday, it ain't a residence visa, it's a multi-entry visit visa available to some property owners. With lots of conditions - many of them not announced yet.
Today GN has a story headed 'New residence visa will increase flexibility for real estate investors'.
Oh yeah?
The story includes some of the usual 'clarification' that we're so used to.
Last Wednesday Gulf News quoted Maj. Gen. Nasser Bin Al Awadi Al Menhali, Assistant Undersecretary for Naturalisation, Residence & Port Affairs, as saying: "Investors who own property worth Dh1 million can get three year mutiple-entry visit visas. However, they have to exit the country every six months".
Today they quote 'senior government officials' as saying: "The visa...will allow property investors to sponsor their families and stay in the UAE for three years without leaving."
So they either have to exit the country every six months or they don't. Wait for more 'clarification'.
As for the unannounced conditions, Major General Nasser Bin Al Awadi Al Menhali has told Gulf News that the full details of the law would be made public soon.
The report goes on to point out that: "It is still unclear if the visa provides investors all the usual benefits of a residence visa, such as enabling them to open bank accounts and apply for local driving licences."
Another thing that's unclear is the Dh1 million 'value' of the property. Is that the price paid or the value now? And if it's the value now, who fixes the value?
Deja vu. It's exactly as happened with the original six month visit visa, exitedly welcomed but misrepresented by the media and the real estate industry as a residence visa that would restore confidence and increase sales. They're again wildly enthusiastic, presenting the latest incarnation as the answer to many of the problems of the real estate sector and investors.
Take a deep breath fellas. We have conflicting information, the law isn't issued yet, the details haven't been announced, we don't know how it's going to work.
The Gulf News report here.
Tuesday, July 05, 2011
Monday, July 04, 2011
The countdown begins
It's time to move back to Oz and so the countdown to leaving Dubai has begun.
Like so many people we decided to come for two or three years but stayed longer. Six years in our case.
To be honest, I was ready to move back at least three years ago but Mrs Seabee got totally involved in her work and didn't want to leave. I wanted to go, she wanted to stay - so we made the compromise that so many couples make, we did what the female said.
If I remember correctly my first posts on Life in Dubai were about the fun and games we had with bureaucracy and I'll round things off with what we have to go through to close the chapter.
The first task is to transfer the car ownership and I'll let you know what's involved in that when I find out.
So far I've been told by my insurance company that the new owner of my personal mobility solution has to have insurance in place before we can do the transfer. I'll do a post with the full story when it's all done.
Flight's booked for mid-August and the container with our belongings has just left Jebel Ali. You have to allow for Customs and, particularly, Quarantine (Australian Quarantine & Inspection Service) to take at least three weeks to check and clear stuff coming into Australia and we've tried to time our arrival as close as we can guess delivery of our belongings will be.
As for blogging, I'll simply stop posting here - as I won't be commenting on a Life in Dubai any more - and I'll move to a new blog. I'll give you the details when I finish up here in about six weeks.
Like so many people we decided to come for two or three years but stayed longer. Six years in our case.
To be honest, I was ready to move back at least three years ago but Mrs Seabee got totally involved in her work and didn't want to leave. I wanted to go, she wanted to stay - so we made the compromise that so many couples make, we did what the female said.
If I remember correctly my first posts on Life in Dubai were about the fun and games we had with bureaucracy and I'll round things off with what we have to go through to close the chapter.
The first task is to transfer the car ownership and I'll let you know what's involved in that when I find out.
So far I've been told by my insurance company that the new owner of my personal mobility solution has to have insurance in place before we can do the transfer. I'll do a post with the full story when it's all done.
Flight's booked for mid-August and the container with our belongings has just left Jebel Ali. You have to allow for Customs and, particularly, Quarantine (Australian Quarantine & Inspection Service) to take at least three weeks to check and clear stuff coming into Australia and we've tried to time our arrival as close as we can guess delivery of our belongings will be.
As for blogging, I'll simply stop posting here - as I won't be commenting on a Life in Dubai any more - and I'll move to a new blog. I'll give you the details when I finish up here in about six weeks.
Wednesday, June 29, 2011
Property visa changes - again
When foreigners were told they could buy property in designated areas of Dubai, a residence visa - subject to the usual DNRD requirements - was included as an added inducement to invest in the emirate.
But the goalposts were moved after the game was well under way.
The standard three year residence visa suddenly was no longer available. It was replaced by a six month visit visa - hardly fair to those who'd invested their money on the original basis. It was also a bad decision in relation to both confidence in Dubai being a good place to do business and in supporting the by-then crashed real estate sector.
Now that bad decision has been reversed, partially at least.
A three year visa is again offered, but it's still only a visit visa not a residence visa.
Gulf News quotes Maj. Gen. Nasser Bin Al Awadi Al Menhali, Assistant Undersecretary for Naturalisation, Residence & Port Affairs, as saying: "Investors who own property worth Dh1 million can get three year mutiple-entry visit visas. However, they have to exit the country every six months".
The Khaleej Times report adds that a property owner applying for the visa: "...also needs to open a bank account locally or aboard and is required to provide proof of a minimum monthly income of Dh10,000. The investor shall also get a medical insurance renewable every six months, apart from a valid medical fitness test every two years."
It's a step in the right direction but it still misses the target. It needs to be a true residence visa. And it needs to be simple.
But the goalposts were moved after the game was well under way.
The standard three year residence visa suddenly was no longer available. It was replaced by a six month visit visa - hardly fair to those who'd invested their money on the original basis. It was also a bad decision in relation to both confidence in Dubai being a good place to do business and in supporting the by-then crashed real estate sector.
Now that bad decision has been reversed, partially at least.
A three year visa is again offered, but it's still only a visit visa not a residence visa.
Gulf News quotes Maj. Gen. Nasser Bin Al Awadi Al Menhali, Assistant Undersecretary for Naturalisation, Residence & Port Affairs, as saying: "Investors who own property worth Dh1 million can get three year mutiple-entry visit visas. However, they have to exit the country every six months".
The Khaleej Times report adds that a property owner applying for the visa: "...also needs to open a bank account locally or aboard and is required to provide proof of a minimum monthly income of Dh10,000. The investor shall also get a medical insurance renewable every six months, apart from a valid medical fitness test every two years."
It's a step in the right direction but it still misses the target. It needs to be a true residence visa. And it needs to be simple.
Monday, June 27, 2011
Back again
Sydney was 21C, sunny, with crystal clear air when I left.
Dubai today will reach 44C the weather forecast said, and even with only 24% humidity the air is thick with 'haze' - cement dust and sand.
Some difference.
The fun story while I've been away was, I thought, the ENOC/EPPCO no petrol saga. It's just such a typical story from this part of the world.
No petrol available from two of the largest petrol station operators in one of the world's largest oil producing countries.
The demonstrably ridiculous 'reason' given by the companies - upgrades of the outlets which everyone could see wasn't actually happening.
Followed by the usual 'disappear and say nothing' PR strategy.
Under that policy, the Sharjah government deadline to explain the situation was ignored.
The Sharjah government shuts down the outlets.
Still no comment.
So what happens next?
Let me guess. ADNOC replaces them as the supplier in the northern emirates.
Being an Abu Dhabi outfit they have government oil revenues behind them - unlike ENOC/EPPCO which have the Dubai government behind them - so the payment of the subsidies shouldn't be a problem. And EPPCO/ENOC get rid of the losses that were being racked up on every litre of petrol they sold in the northern emirates.
A conspiracy theorist would say that was the plan all along.
Dubai today will reach 44C the weather forecast said, and even with only 24% humidity the air is thick with 'haze' - cement dust and sand.
Some difference.
The fun story while I've been away was, I thought, the ENOC/EPPCO no petrol saga. It's just such a typical story from this part of the world.
No petrol available from two of the largest petrol station operators in one of the world's largest oil producing countries.
The demonstrably ridiculous 'reason' given by the companies - upgrades of the outlets which everyone could see wasn't actually happening.
Followed by the usual 'disappear and say nothing' PR strategy.
Under that policy, the Sharjah government deadline to explain the situation was ignored.
The Sharjah government shuts down the outlets.
Still no comment.
So what happens next?
Let me guess. ADNOC replaces them as the supplier in the northern emirates.
Being an Abu Dhabi outfit they have government oil revenues behind them - unlike ENOC/EPPCO which have the Dubai government behind them - so the payment of the subsidies shouldn't be a problem. And EPPCO/ENOC get rid of the losses that were being racked up on every litre of petrol they sold in the northern emirates.
A conspiracy theorist would say that was the plan all along.
Tuesday, June 21, 2011
Christmas lunch flew in...
I'm getting ready to come back to Dubai, flying out of Sydney on Friday afternoon and due in at the usual unearthly hour of the morning.
We've got a lot of flight cancellations because of volcanic ash in the air, mostly domestic but some international flights have been diverted or delayed apparently. They're saying it will clear within 48 hours so hopefully I'll get away on time.
Friday, June 17, 2011
Sunday, June 05, 2011
That's better!
I can't believe the weather we've been having. It's so un-Australian.
We're coming into winter so cooler temperatures are normal, but the wet certainly isn't par for the course.
The last time I remember a period like this was way back in the mid-eighties.
But...today was sunny so I went for a walk. Blue sky. Crystal clear air. Sunshine.
I walked around the next bay to the one I live on...
That's how it should look, not wet and gray.
The forecast for tomorrow is sunshine all day. But then the clouds and showers are forecast for the rest of the week.
Bummer.
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