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September 25, 2020
People from all over the world are coming to establish their own business or get work in the Emirates. Since both are quite easy to do here, many people are bringing families and building long-term plans to stay in the UAE, making it their second home. One of the important things on the way was the visa regime that was not favorable for retirees.
Now, the decision has been made and people can apply for a five-year renewable retirement visa that would allow them to settle in the emirate, providing they meet a range of criteria.
Applicants must be older than 55 and have valid UAE health insurance. They must also either earn a monthly income of Dh20,000; have Dh1 million in cash savings, or own Dh2m worth of property in Dubai.
There are hundreds of thousands of expats who were living in the country for more than 10-15 years. They raised children and brought their grand-parents to the UAE. The new retirement visa will allow them to stay even longer. Making long-term investments or commitments in the UAE is now a possibility without the fear of being repatriated once you reach the retirement age of 55 and above. The five-year residence visa for retirees is definitely shifting the dynamics for expats in the UAE to better and many are excited to turn on the new page in their life in UAE!
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