Dubai Announces 5-Year Retiree Visa
Retirement comes with several benefits - the free time to pursue activities you may have neglected earlier on, more time to spend with loved ones, and financial independence. And now retirees can enjoy all of that in one of the world’s most spectacular cities. Dubai has announced a first-of-its-kind retiree visa program, known simply as ‘Retire in Dubai’.
The program, which is a joint initiative by the Department of Tourism & Commerce Marketing (better known as Dubai Tourism) and the General Directorate of Residency and Foreigners Affairs, is available to both residents and retirees who live outside the UAE. The visa has an eligibility of 5 years and is renewable.
In order to be eligible for this program, retirees will need to meet the following criteria:
Minimum age of 55
Valid UAE health insurance (which can be purchased the day before applying for the program)
One of the following:
Minimum monthly income of AED 20,000 (from pensions or investments)
Minimum savings of AED 1 million
Ownership of a property in Dubai worth at least AED 2 million
The program will initially focus on Dubai residents who have worked in the country for more than 10 years and who are therefore already familiar with the benefits that Dubai offers them. The second phase will see it expand to include overseas retirees.
Dubai is one of the world’s top lifestyle destinations, featuring global icons such as the Burj Khalifa and Palm Jumeirah. It has also established itself as a premier residential option for families, with world-class healthcare, highly accredited educational institutions, excellent infrastructure and exceptional levels of personal security. Dubai has also been ranked as the number one destination for venture capital investments in the Middle East & North Africa, and 11th globally.
The city also allowed for future planning courtesy of the DIFC Wills Centre, which offers services for will drafting and registration, ensuring that retirees can protect their personal legacies.
In 2018, the UAE had proposed a 5-year retiree visa, which is distinct from the ‘Retire in Dubai’ program and only limited to residents.