UAE based Danube Group believes that visa on arrivals for Indians will promote investment
Udaipur : UAE’s largest diversified conglomerate, the Danube Group believes that visa on arrivalsfor Indians and the extended residency permit up to 10 years for foreign investorswill promote investment in the booming economy. The Indian nationals form the largest foreign investor group in Dubai’s real estate. The have invested on properties worth Dh83.65 billion in the last five years – from 2013 to 2017 according to statistics compiled by Dubai Land Department (DLD).
Danube Group Founder and chairman, Mr Rizwan Sajan said: “Indian nationals account for the largest single expat demographic in Dubai, while according to government estimates, trade between the UAE and India is set to be worth $100 billion by 2020. Also, the latest UAE Cabinet’s twin decisions to extend the residency permit up to 10 years for foreign investors, qualified professionals and talented students as well as offer 100 percent foreign ownership of private companies are expected to steer large investment into the country’s real estate market.“
“Also, buying the right property at the right time can be a very shrewd long-term investment and trust me now is the ideal time to invest in UAE’s real estate sector because the UAE government has exempted real estate sector from the VAT list. Only commercial spaces exempting hospitals are to include in the VAT. The prices of the properties are reduced and there might be a good rise in the demand because of Dubai Expo 2020 not only this but UAE is one of the safest and most lucrative investment market with brilliant ROI.” He added
The data reflects Indian investors’ faith in Dubai’s highly lucrative real-estate industry. As astute investors, Indians understand that they are getting their value for money, since UAE offers a bright economic future, stability, affordability, class and comfort. Moreover, Dubai is one of the most affordable property destinations.
As per the UAE cabinet the Indian passport holders with a valid American visa or Green Card will be eligible for a visa-on-arrival to the UAE. The tourist visa will be valid for a period of 14 days, with scope for a single extension at an additional fee.
Like the United States and other developed countries, the UAE has always benefitted from its open-door policy, the inclusion of foreigners. The expatriates have had their share of contribution to the remarkable progress made by the country in the last 47 years since the formation of the UAE federation.
The new development by the visionary leaders of the UAE will definitely give the country’s economy an unprecedented push that we have not seen in the last ten years. These are timely decisions and the right step towards building a great future.