All About the Dubai Retirement Visa
There are many countries with retirement visas but we’re going to explain the Dubai retirement visa plan that will let you live out the best of your retirement in an unbeatable location. Suppose you’re an expat resident in Dubai wondering about what happens after you wrap up your professional career. Good news: you no longer have to pack up and return to your home country.
The UAE government recently announced the Dubai Retirement Visa that offers Dubai residents residency after retirement. What are the requirements for this visa scheme? In this article, we’ll break it all down.
Retire in Dubai: the Details
The Retire in Dubai visa programme is a joint initiative from Dubai Tourism (Department of Tourism and Commerce Marketing), the General Directorate of Residency and Foreigners Affairs (GFDRA-Dubai) and 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, provide the best retirement visa in the world.
Benefits of Retirement in Dubai
The programme highlights features that make Dubai one of the best places to retire, including:
Dynamic recreational offerings
Strategic location within an eight hour flight of two-thirds of the global population
Legacy planning through the DIFC Wills Centre
A world-class healthcare system
While the initial phase of the scheme will focus on UAE expats seeking a residence option after retirement, the programme will eventually expand to attract those not currently residing there.
Dubai/UAE Retirement Visa Requirements
Who is Eligible for the Retirement Visa in Dubai?
Expats in Dubai and a spouse are eligible to apply for the retirement visa programme if they are at least 55 years old.
For How Long is the Visa Valid?
The visa is valid for 5 years and you can renew the visa online as long as you continue to meet the eligibility criteria.
Are There Other Requirements?
Along with satisfying the age requirement, you must also have a valid health insurance policy. You must purchase your health insurance the day before you apply; should your application be denied, you will receive a refund from the insurance provider within 30 days.
Financial Conditions for Dubai Retirement Visa
Eligible applicants for this residence visa for retirement must satisfy one of three financial conditions. The options are as follows:
You must either earn at least AED 20,000 a month (around £4,400),
Have cash savings of at least AED 1,000,000 (around £222,000) or
Own a property in Dubai that’s worth at least AED 2,000,000 (around £444,000).
How Can I Apply for the Dubai Retirement Visa?
You can apply for your retirement visa in Dubai with help from the Retirement Advisory Team at Europe Emirates Group, including choosing the appropriate health insurance plan to meet the Dubai retirement visa requirements. We will also help you navigate the real estate market as you choose your dream retirement home and explain the options for financing the property should you need it.
Finally, we can also guide you through the appropriate legacy planning options to ensure your last wishes are respected, an especially crucial point for non-Muslim residents in Dubai. Schedule your initial appointment to meet the Retirement Advisory Team today and get started on your perfect Dubai retirement.
CEO, Europe Emirates Group