Free 3-year UAE family visa, trade licence with Dubai house
You can now buy a home in Dubai and get a trade licence free with it.
Emaar in partnership with the Dubai Multi Commodities Centre has launched almost 200 units in an under-construction building in Dubai Hills Estate. Those who pay 20 per cent of the apartment price at Executive Residences will receive a free three-year renewable business licence (estimated to be worth Dh130,000), a free three-year renewable family residency visa and 100 per cent business ownership. The owner can also apply for two employee visas with every trade licence.
This is a product targeted at entrepreneurs and SMEs and is touted to be a game-changer in the UAE real estate industry. Entrepreneurs can now do away with the need to rent office premises.
"It helps you to achieve cost savings. The product is targeted at SMEs, who contribute 80 per cent of the economy," said Kunal Puri, founder and managing director of La Capitale Real Estate.
Earlier, business owners had to show their office tenancy contract as proof to get a trade licence. In this project, they can do so with their house Ejari certificate.
"People are already waiting in queue to buy with credit card authorisation. This kind of freedom has never existed in the market before. It is a master stroke by the developer," added Puri.
With the Executive Residences, entrepreneurs and startup owners have a chance to run a home-based business legally.