Dubai is a gorgeous city. The working environment, the business-friendly policies, infrastructural facilities, and economic wealth attracts people all over the world to settle in Dubai. The UAE government announced the introduction of a Retirement Visa in Dubai, as part of the Retire in Dubai program, in September 2020. This policy is for ex-pats and foreigners over the age of 55 years. 85% of the population of UAE consists of ex-pats. There is a tendency to return to their nation after retirement. This policy attracts ex-pats and foreigners to settle in Dubai after retirement.
Features of Retirement Visa in Dubai
- In the first phase, this program aims only at ex-pats living and working in Dubai. Later, this would include foreigners as well.
- The retirement visa policy is managed by the Department of Tourism and Commerce Marketing (Dubai Tourism) in association with the General Directorate of Residency and Foreign Affairs (DDRFA- Dubai).
- This program helps to depict Dubai as the world’s desired retirement destination.
- The eligibility criteria:
- First and foremost, the age of the applicant must be 55 years or above.
- Secondly, the applicant must have valid health insurance in UAE before applying.
- In addition, the applicant must fulfill any one of the following:
- monthly income of at least AED 20,000
- financial strength minimum of AED 1 million
- real estate ownership in Dubai of at least AED 2 million
- The applicant can also have at least AED 2 million as financial strength and real estate ownership combined.
- The application procedure takes 15 days to complete.
- The applicant can sponsor his/her spouse, children, and later the immediate family.
- If the boy’s age exceeds 18 years and the girl’s age exceeds 21 years, then they cannot be sponsored by the applicant. They will have to apply for a student visa.
- Each sponsored member must have valid health insurance in the UAE.
- The self-employed visa holders can continue work.
Dubai offers a unique lifestyle, convenience, and various opportunities. Moreover, people can indulge in various recreational activities and sports. They have the opportunity to enjoy life after retirement in Dubai. Thus, the retirement visa program by the UAE government gets thumbs up from all around and is widely acknowledged.