\'Residence Visa\' for property owners

The 'residence visa' for property owners, was lauded as a great move forward. But was it a residence visa? It was nothing of the sort, and not even a residence visa. It was a three year multi-entry visit visa for which, in spite of all the applause, no clean and clear details have come out as yet. From whatever sources the news is gathered it boils down to the fact that the holders would have to leave the country every six months, which was again 'clarified' a few days later by a statement that holders would not have to leave every six months. Then it was announced that the only other information was that holders would need proof of a bank account either here or overseas and a salary of Dh10,000 a month, and the visa would only apply to property 'worth Dh1 million'. They would also have to have medical insurance renewable every six months and take a medical here every two years. But the real detail that property owners, and potential buyers, need wasn't, and still hasn't, been given. The announcement was made, then nothing. Because it isn't a residence visa, can holders apply for all the things that require a res. visa, such as a driving licence, DEWA connections and so on? Or are they treated the same as other visit visa holders? And what's the cost? The original plan for a six month visa required the holder to exit the country and apply for a new visa to come back in, at Dh2,000 a time. That soon adds up if it's a family on the visa. There is no indication of the cost of the latest version. The facts about this visa that have come out are that the UAE multi-entry visa is valid for 6 months at a time, permits multiple entries to the UAE. Commonly referred to as a residence visa, but not clear if that's the official term. Property owner residence visa can be renewed indefinitely but the visa holder must exit the UAE and re-apply. The applicant can apply right away rather than wait for a month outside the UAE. Unknown if property residence visa holders can apply for UAE driving licences, bank accounts, telephone connections, etc. Other residence visa holders can, and previous property residence visa holders could. If the new visa is a "visit" visa rather than a "residence" visa, then probably not. The aim for property visa is to promote the real estate market and attract new investment as well as maintaining a sustainable influx of funds and investors, thereby the law must be all-inclusive and relax all clauses that may turn out be a hindrance.