Real estate developer Al Hamra is offering investors a 12-year residence visa and a business licence when they purchase a ready residential property in Al Hamra Village or Bab Al Bahr.
These are two of its master communities in Ras Al Khaimah.
As part of the package, investors can also secure an additional partner visa and a flexi-desk. Other benefits include 100 per cent ownership of the business, 100 per cent repatriation of capital and profits, no corporate tax and zero personal tax, the developer said in a statement on Monday.
The offer is being made in partnership with Ras Al Khaimah Economic Zone.
“We are offering an extraordinary opportunity for investors to buy into Al Hamra as well as set up a company under their own business licence,” said Benoy Kurien, group chief executive of Al Hamra. “The new package aims to attract entrepreneurs, freelancers, consultants and seniors, anyone looking to live and work in the UAE.”
Currently, anyone who owns a property in the UAE worth more than Dh1 million is eligible for a two-year property visa, which can be renewed. Those who own property worth Dh5m or more are eligible for a five-year residency visa.
The UAE government announced several initiatives this year to boost the local property market.
The country introduced retiree visas for those wishing to retire in the UAE. It grants non-Emiratis over the age of 55 the ability to stay in the country, provided that they have an investment property worth at least Dh2m, or financial savings of Dh1m, or an active monthly income of Dh20,000 or more.
The visa is valid for five years with the possibility of automatic renewal if the retirees still meet the eligibility criteria.
The UAE also expanded the 10-year golden visa scheme – a move that is expected to support the property market.
Meanwhile, Dubai launched a remote-working programme to allow professionals to live in the emirate while employed by companies overseas.
The price of a freehold apartment in Al Hamra Village and Bab Al Bahr starts from Dh292,000. Investors can make the payment over five years after paying 20 per cent of the property value upfront.
The developer said investors can expect to receive an estimated annual yield of up to 8 per cent on properties in Al Hamra.
Al Hamra Village and Bab Al Bahr feature an 18-hole championship golf course, a marina and yacht club, clubhouse, the Al Hamra Mall and luxury hotels.
What is blockchain?
Blockchain is a form of distributed ledger technology, a digital system in which data is recorded across multiple places at the same time. Unlike traditional databases, DLTs have no central administrator or centralised data storage. They are transparent because the data is visible and, because they are automatically replicated and impossible to be tampered with, they are secure.
The main difference between blockchain and other forms of DLT is the way data is stored as ‘blocks’ – new transactions are added to the existing ‘chain’ of past transactions, hence the name ‘blockchain’. It is impossible to delete or modify information on the chain due to the replication of blocks across various locations.
Blockchain is mostly associated with cryptocurrency Bitcoin. Due to the inability to tamper with transactions, advocates say this makes the currency more secure and safer than traditional systems. It is maintained by a network of people referred to as ‘miners’, who receive rewards for solving complex mathematical equations that enable transactions to go through.
However, one of the major problems that has come to light has been the presence of illicit material buried in the Bitcoin blockchain, linking it to the dark web.
Other blockchain platforms can offer things like smart contracts, which are automatically implemented when specific conditions from all interested parties are reached, cutting the time involved and the risk of mistakes. Another use could be storing medical records, as patients can be confident their information cannot be changed. The technology can also be used in supply chains, voting and has the potential to used for storing property records.
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How much do leading UAE’s UK curriculum schools charge for Year 6?
- Nord Anglia International School (Dubai) – Dh85,032
- Kings School Al Barsha (Dubai) – Dh71,905
- Brighton College Abu Dhabi - Dh68,560
- Jumeirah English Speaking School (Dubai) – Dh59,728
- Gems Wellington International School – Dubai Branch – Dh58,488
- The British School Al Khubairat (Abu Dhabi) - Dh54,170
- Dubai English Speaking School – Dh51,269
*Annual tuition fees covering the 2024/2025 academic year
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Key findings of Jenkins report
- Founder of the Muslim Brotherhood, Hassan al Banna, "accepted the political utility of violence"
- Views of key Muslim Brotherhood ideologue, Sayyid Qutb, have “consistently been understood” as permitting “the use of extreme violence in the pursuit of the perfect Islamic society” and “never been institutionally disowned” by the movement.
- Muslim Brotherhood at all levels has repeatedly defended Hamas attacks against Israel, including the use of suicide bombers and the killing of civilians.
- Laying out the report in the House of Commons, David Cameron told MPs: "The main findings of the review support the conclusion that membership of, association with, or influence by the Muslim Brotherhood should be considered as a possible indicator of extremism."
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History's medical milestones
1799 - First small pox vaccine administered
1846 - First public demonstration of anaesthesia in surgery
1861 - Louis Pasteur published his germ theory which proved that bacteria caused diseases
1895 - Discovery of x-rays
1923 - Heart valve surgery performed successfully for first time
1928 - Alexander Fleming discovers penicillin
1953 - Structure of DNA discovered
1952 - First organ transplant - a kidney - takes place
1954 - Clinical trials of birth control pill
1979 - MRI, or magnetic resonance imaging, scanned used to diagnose illness and injury.
1998 - The first adult live-donor liver transplant is carried out
Sholto Byrnes on Myanmar politics
WHAT IS A BLACK HOLE?
1. Black holes are objects whose gravity is so strong not even light can escape their pull
2. They can be created when massive stars collapse under their own weight
3. Large black holes can also be formed when smaller ones collide and merge
4. The biggest black holes lurk at the centre of many galaxies, including our own
5. Astronomers believe that when the universe was very young, black holes affected how galaxies formed
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Price: Dh169,900
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Our legal consultants
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
German intelligence warnings
- 2002: "Hezbollah supporters feared becoming a target of security services because of the effects of [9/11] ... discussions on Hezbollah policy moved from mosques into smaller circles in private homes." Supporters in Germany: 800
- 2013: "Financial and logistical support from Germany for Hezbollah in Lebanon supports the armed struggle against Israel ... Hezbollah supporters in Germany hold back from actions that would gain publicity." Supporters in Germany: 950
- 2023: "It must be reckoned with that Hezbollah will continue to plan terrorist actions outside the Middle East against Israel or Israeli interests." Supporters in Germany: 1,250
Source: Federal Office for the Protection of the Constitution
Polarised public
31% in UK say BBC is biased to left-wing views
19% in UK say BBC is biased to right-wing views
19% in UK say BBC is not biased at all
Source: YouGov
