All About the Dubai Retirement Visa
While there are many countries with retirement visas, we’re delighted to explain the latest retirement visa scheme to live in Dubai. Suppose you’re an ex-pat resident in Dubai wondering about what happens next after wrapping up your professional career. In that case, you may no longer have to pack up and return to your home country as it’s been customary in the past. The Dubai government recently announced the Dubai retirement visa that offers residents in this part of the UAE residence after retirement. What are the requirements for this visa scheme? We have all the details.
What is Retire in Dubai?
The Retire in Dubai visa programme is a joint scheme from Dubai Tourism (Department of Tourism and Commerce Marketing) and the General Directorate of Residency and Foreigners Affairs (GFDRA-Dubai) that Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum. The initiative aims to showcase Dubai as one of the best places to retire, and in turn, be the best retirement visa in the world.
The programme highlights features that make Dubai one of the best places to retire, that include Dubai’s lifestyle, dynamic recreational offerings, connected infrastructure and strategic location within an eight-hour flight of two-thirds of the global population. They also espouse the emirate’s ability to manage legacy planning through the DIFC Wills Centre and the world-class healthcare system.
While the initial phase of the scheme will focus on UAE ex-pats seeking a residence option after retirement, the programme will eventually expand to attract those not currently residing there.
Dubai, UAE Retirement Visa Requirements
Expatriates in Dubai and a spouse are eligible to apply for the retirement visa programme if they are at least 55 years old. The visa is valid for 5 years, and you can renew the visa online as long as you met the eligibility criteria. Along with satisfying the age requirement, you must also have a valid health insurance policy. You must complete your health insurance purchase the day before you apply, and should you not get your application approved; you will receive a refund from the insurance provider within 30 days.
How much money do you need to retire in Dubai?
Eligible applicants for this residence visa for retirees must satisfy one of three financial conditions. The options are as follows:
- You must either earn at least AED20,000 a month (about £4,193.12)
- Have cash savings of at least AED1,000,000 (around £209,666.73) or
- Own a property in Dubai that’s worth AED2,000,000 (£419,333.46).
How can I get a Dubai, UAE retirement visa?
You can apply for your retirement visa in Dubai with help from the Retirement Advisory Team at Europe Emirates Group. We will assist you throughout the process of applying for your retirement visa in the UAE and the logistics surrounding relocation.
That includes choosing the appropriate health insurance plan to meet the retirement visa requirements to settle in this part of the UAE. We will also help you navigate the real estate market as you choose your dream retirement home and options for financing the property should you need it. Finally, we will also guide you through the appropriate legacy planning options to ensure you can have your last wishes respected, which is especially crucial for non-Muslim residents in Dubai. Schedule your initial appointment to meet the Retirement Advisory Team today.
CEO, Europe Emirates Group