Al Hamra’s Live & Work package offers investors a 12-year UAE residency visa, a partner visa and a trade license on purchase of all ready-to-move-in and select off-plan residential properties.
Al- Masdarak, a leading Arabic portal, spoke with Benoy Kurien, Group CEO of Al Hamra recently to know more about the scheme.
What is the minimum investment required to benefit from Al Hamra’s Live & Work scheme?
The12-year residency visa package under Al Hamra's 'Live & Work' initiative is available on all ready-to-move-in and select under-construction properties starting from the units as small as a studio.
Al Hamra in partnership with Ras Al Khaimah Economic Zone launched an unparalleled opportunity a couple of years ago for investors, granting investors a 12-year UAE residency visa, work permit and partner visa.
Does the package include only the investor or his family as well, and is there an age limit for children such as under 18 years old to issue them a residence permit?
The "Live & Work" package offers a 12-year residency visa, work permit and partner visa (renewable every two years). A family residence visa (including children) can also be granted at an additional cost.
How much is the fee for obtaining residency for an individual and for a family, including young children and adult children?
This initiative is comprehensive, and Al Hamra provides comprehensive visa application and processing support. This package is only available in Ras Al Khaimah when purchasing directly from Al Hamra. The cost of self and partner visa is inclusive and family visa can be granted at an additional cost.
Is it required to pay the full value of the property to get the package? Or can investors rely on bank financing for the property and obtain a residence visa and work permit?
Investors can avail the 12-year residence visa upon making a down payment of 20% of the total value of their home (ready to move) through a five-year payment plan from Al Hamra or via bank financing.
Does the package include off-plan properties or just ready properties?
The "Live & Work" package is applicable to all ready-to-move projects and select off-plan projects. Of the two new projects we have launched, Falcon Island is not included in this initiative.
What activities are available that include obtaining a business license from Ras Al Khaimah Economic Zone through the package, and are there additional fees for obtaining a license for a real estate investor?
There are more than 300 activities available, but properties and real estate are not on the list.
Does the free license include the issuance of a free residence visa to the license partner?
Yes - The package includes a 12-year residency visa, partner visa, and business permit, and Al Hamra provides comprehensive visa application and processing support. A family visa (including children) can also be granted at an additional cost.
Is the package available for all nationalities?
Yes, the 'Live & Work' package is available for all nationalities allowed to enter the UAE.
How many different nationalities benefit from the package?
As of now around 45 different nationalities have benefited from the package offered by Al Hamra.
Are there other terms and conditions that can be added to the package?
The package includes 100% business ownership and 100% capital and profit.
Tell us more about Al Hamra
Al Hamra is a lifestyle developer and real estate investment company, headquartered in Ras Al Khaimah with a portfolio spanning across real estate projects, retail as well as investment in the hospitality and entertainment sectors. Since its inception in 2003, Al Hamra has played an important role in shaping the real estate landscape in Ras Al Khaimah to contribute to the growth of the emirate.
Located 45 minutes from Dubai International Airport and the Free Trade Zone, Al Hamra includes award-winning Al Hamra Village, Al Hamra Golf Club, Al Hamra Yacht Marina & Club, Manar Mall and its highly anticipated flagship residential development, Falcon Island, which will exceed expectations and lead the scene of past real estate developments in the emirate.
The Group also has leading hospitality destinations such as Waldorf Astoria Ras Al Khaimah, The Ritz-Carlton Ras Al Khaimah, Al Hamra Beach, Sofitel Ras Al Khaimah Resort, Al Hamra Residences and Al Hamra Village managed by Deutsche Hospitality.
Looking to expand its regional and global network of partnerships, Al Hamra aims to enhance Ras Al Khaimah's attractiveness as a tourism destination that offers an exceptional experience for customers, visitors and investors alike.
In line with Ras Al Khaimah's Vision 2030, Al Hamra has launched its ambitious five-year plan, which is based on a three-pronged approach aimed at providing a more upscale lifestyle and improving products and services and elevating them towards excellence.
The company continuously strives to support Ras Al Khaimah's transformative journey as one of the most important investment, commercial, residential and tourism destinations and plans to drive sustainable growth by expanding existing residential communities and hospitality destinations while improving its retail service and investing in value-added services.
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