In a first, Dubai is now making it easier for senior residents to continue living in the city with the introduction of retirement visas valid for five years.
Retirement visas introduced in Dubai
Until now, residents in the UAE could work and earn till the age of 65, leaving many long-timers with little choice other than moving back to their home country. Thanks to Dubai’s latest retirement visa system, anyone aged 55 and above can avail visas for up to five years as long as they have a valid UAE healthcare insurance and meets the financial requirements.
In case if the resident visa application is denied, your health insurance fee will be refunded within a month by the provider.
Financial criteria for retirement visa
To obtain the retirement visa, residents must either have a monthly income of AED 20,000, or have AED 1 million in savings, own a property worth AED 2 million, or have savings and a property accumulating to AED 2 million.
“The Retire in Dubai programme is based on the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to further enhance Dubai’s position as an iconic global city and make it the world’s most preferred lifestyle destination. Dubai’s Retirement Readiness strategy will enable expatriates and international retirees to take advantage of the city’s open-door policy, tolerance, and outstanding quality of life and live in one of the world’s fastest-growing, culturally diverse cities.”His Excellency Helal Saeed Almarri, Director General, Dubai Tourism
Seven reasons why Dubai is a great destination for retirees
Dubai Tourism outlined a line-up of seven top reasons why the city makes an ideal destination for the elderly, including convenience, recreation and leisure, active lifestyle, connectivity, world-class healthcare systems, legacy management and the unique lifestyle that makes the city a cosmopolitan. For more details, head to their official website.
Photograph credit: Dubai Media Office
(Featured photograph credit: Dubai Media Office)