Dubai Media Office has just made an announcement, regarding the retirement visa programme, on Wednesday, with the launch of a five-year visa for retirees to settle in the emirate. Any resident or those outside the country aged over 55 years can apply for the visa, provided they meet the requirements.
According to the statement in Arabic:
“Under the directives of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President, Prime Minister of the UAE and Ruler of Dubai, the emirate of Dubai has launched an initiative for retirees from around the world through the “Retirement in Dubai” programme, which is the first of its kind in the region and is the result of cooperation between Dubai Tourism and the General Administration of Residency and Foreigners Affairs.”
There are terms and conditions for obtaining a retirement visa that is renewable every five years. The holders of this visa are allowed to work as independent workers, advisors, board members, consultants, etc.
You are able to sponsor your children on the visa. Boys need to be under the age of 18, while girls can be sponsored until the age of 21. If they are older, they do not qualify as dependents and will therefore need to apply for their own student visa
To be eligible for the Retirement Visa, you must be older than 55 years and fulfill the financial requirements:
The applicant has to fulfill one of the following criteria:
- Option 1: AED 20,000 (approx. USD 5,500) Monthly Income* OR
- Option 2: AED 1 million (approx. USD 275,000) savings OR
- Option 3: AED 2 million (approx. USD 550,000) property OR
- Option 4: A combination of Options 2 and 3 valued at least AED 2 million (approx. USD 550,000)
*The applicant should provide evidence in the form of a bank statement demonstrating the minimum deposit of AED 20,000 in their account on a monthly basis or what equates to AED 240,000 annually.
Any resident or retiree outside of UAE and over the age of 55 can apply for the retirement visa via the official website.
Cover Photo: MainstreamCanadian
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