Retirement Visa in Dubai
A special retirement program was launched by the decision document of the UAE government issued in 2018. In years 2020 and 2021 this program was expanded and updated. Thus, expats over the age of 55 will be eligible for a 5-year visa for foreign retirees (resident visa), enjoying all the benefits of living in this country.
Retirement program in Dubai — Bottom Line:
- The program is developed by the Dubai Tourism Department in collaboration with GDRFA (Government Citizenship and Residence Service).
- This is the first program in the region for expatriates and foreign retirees.
- Foreigners over the age of 55 are eligible for a 5-year visa.
The first stage of the program is aimed at those UAE residents who work in Dubai and have already reached the age of 55. It enables people who have been living and working in the country for some time to stay here after retirement, having received a residence permit for retirees.
The second component of this initiative is aimed at attracting people from other countries and providing visas for foreign retirees. Dubai is the leader in the region, ranked 11th in the world in terms of investments in 2020. It has strengthened its position in the rating, even despite the pandemic.
This program aims to reinforce Dubai’s status as the world’s best city to live in. In addition, this way, the country’s authorities give a new impetus to the development of the local economy. Prior to the introduction of this program, it was assumed that foreigners would stay in the country as long as they work, that is, in general, up to 60 years of age (in some cases, with a special permit, up to 65). A new program is designed to attract wealthy elderly people to the country, providing them with a retirement residence permit. In addition, it is intended to support the real estate market, which dipped slightly in 2020.
There are several advantages to living in Dubai, the UAE:
- High living standards. Here in Dubai, expats can live in comfort and safety. Though the UAE is a Muslim country, it is quite friendly to foreigners. You can live the way you want to. Here you have access to various services that will make your life easier, more comfortable, and pleasant: from cleaning and home delivery to home bookkeeping. Dubai is a city of affordable luxury; here, you can get the quality of life you want to have. In addition, the UAE offers favorable conditions for doing business, so if you intend to move to this country, you will receive significant benefits, ranging from a zero income tax rate to simplified procedures and regulations.
- Great leisure opportunities. Dubai is known all over the world as an excellent tourist destination. Beach holidays and shopping are very popular in Dubai. But your possibilities don’t end there. Firstly, Dubai is the capital of gastronomic specialties; it serves dishes from over a hundred countries of the world in a variety of locations, from street food eateries to Michelin-starred restaurants. Numerous spas, galleries, museums, entertainment centers, and outdoor activities, from trips to the desert and acquaintance with the traditional life of local people to various sports, are also at your service. Dubai is the cultural center of the region; exhibitions, concerts, and other cultural events are often held here, so art lovers will also find things to their liking. In short, there is entertainment for everyone in Dubai, no matter what your preferences are.
- Healthy lifestyle. Those who appreciate a healthy lifestyle will love the infrastructure of Dubai and what it has to offer. There are fitness centers, and the fitness movement known as Dubai Fitness Challenge is very powerful. You can run along the beaches, walk in the local gardens and do other sports.
- Good public transportation and communication. Public transport is very well-developed in Dubai, as well as the road infrastructure. With a driving license, you can easily rent or purchase a car and travel around the country without any problems. Moreover, you can easily reach virtually any place in the world in less than 8 hours from Dubai International Airport (DXB) — there are 150 airlines flying almost to every country around the globe. High-quality health care system. UAE medicine is first-rate. It offers advanced medical practices, the best equipment, and there are excellent specialists working here. With UAE insurance, you can get access to this system. This is especially important for people of retirement age. You can rest assured that your health is in good hands.
- Safety. In the UAE, there is no civil unrest, military conflicts, and other dangerous occurrences characteristic of other countries of the world. The punishments for crimes are quite harsh, whereas expatriate criminals are extradited to their homeland. You don’t have to worry for yourself and your loved ones — you can safely walk the streets at night; nothing threatens you.
- Assistance in the execution of wills and inheritances. The DIFC service center offers an expanded package to retirees concerning wills and inheritance. These services guarantee that the assets of retirees’ are safe and will be handed over to family and friends as you require.
Conditions for obtaining a 5-year visa for retirees
So, here are the requirements for obtaining a five-year retirement visa in Dubai:
- Applicants must be at least 55 years old.
- Applicants must have valid UAE health insurance. Health insurance in the UAE must be purchased at least one day prior to applying for a visa.
- Applicants must meet at least one of the following requirements:
- Have an income of at least AED 20,000 (monthly);
- Have savings in the amount of AED 1,000,000 (approximately USD 275,000);
- Own real estate in Dubai in the amount of AED 2,000,000 (approximately USD 550,000);
- A combination of options 2 and 3, with a total of at least AED 2,000,000.
Retired expats and their spouses can apply for a five-year retirement visa with automatic renewal. It can be renewed every five years if the retiree meets the above requirements at the time of application. A residence permit for retirees in the UAE also allows applying for a visa for the wife/husband of the visa holder.
How to apply for a 5-year retirement visa in Dubai
If you meet the requirements listed above and would like to obtain a 5-year retirement visa in Dubai, follow these stages:
- Contact the specialists of our company.
- Submit the required documents according to the list we’ll send you.
- As soon as you do that, you will receive forms to fill out, and all further steps will be taken by our consultants.
If your application for a five-year retirement visa is not accepted (which is highly unlikely if you meet the requirements), health insurance providers in the UAE will offer a 30-day refund after the purchase.
After receiving a retirement visa in the UAE, you will become a resident of the country. This allows you to get almost the same opportunities as local citizens. With a valid visa for foreign retirees, you can apply for a visa for your spouse.
To apply for this type of visa, contact the specialists of our consulting company. With their help, you will get the guaranteed result in the shortest possible time.