Dubai is one of the most ideal destinations for retirees from all over the world. It is filled with attractions and activities for every person and personality, whether you are an outdoorsy person with a thirst for adventure or a socialite looking for an electric nightlife.
Its warm and inviting climate all year round, combined with its world-class amenities, means you’ll never run out of things to enjoy in the fastest-growing city in the Middle East. And now, with the Dubai Retirement Visa, eligible retirees can stay, live, and work in Dubai for as long as they like.
Interested in knowing how you can get a Dubai Retirement Visa of your own? Read on below!
Eligibility: Do You Qualify for a Dubai Retirement Visa?
There are two ways an applicant may be deemed eligible for a Dubai Retirement Visa: 1.) the applicant has worked for not less than 15 years inside or outside the UAE; or 2.) the applicant is 55 years old or older at the time of retirement.
If the applicant fulfils either of the above criteria, they can be considered for the Dubai Retirement Visa.
Financial Qualifications You Need to Meet
Additionally, an applicant can be considered a viable candidate if they qualify under any of the following financial classifications:
1.) They own a piece of property or properties with a cumulative value of no less than AED 1 million
2.) They have financial savings of no less than AED 1 million
3.) They have a steady monthly income amounting to at least AED 20,000 (AED 15,000 monthly for Dubai), backed by bank statements spanning the last six months.
If the applicant meets the qualifications for Eligibility and Financial Capability, they can then apply for a Retirement Visa in Dubai.
Important: While the visa is issued only to the applicant, the applicant’s spouse and dependent children (as long as they are under 21 years of age) can also be included on the visa.
Validity of the Visa
A Retirement Visa in Dubai is valid for five years, with the option to be renewed for an additional five, granted that the applicant still meets the criteria for eligibility.
Benefits of a Retirement Visa in Dubai
Holders of the Retirement Visa are entitled to several benefits, including the following:
1.) The ability to freely work and stay in Dubai
2.) Multi-year residency with the option to renew, leading to stability, security, and lasting peace of mind
3.) The opportunity to enjoy financial growth from local investments in property and other assets
4.) Freedom from taxes on income obtained through investments and pensions
5.) Access to benefits available to UAE residents, including free education and healthcare
6.) Close proximity and access to world-class attractions and amenities in and around the city
7.) The geographic centrality of Dubai, in combination with its world-class airports and aviation lines, allow for convenient international travel to anywhere in the world
With its blossoming urban development and cultural diversity, Dubai is turning into one of the most retirement-friendly locations in the region – if not the world. So whether you simply want to retire in warmer climates or stay long-term in some place that is in the midst of an exciting evolution, Dubai is the perfect place for you.