A one-of-a-kind retirement visa programme has just been launched by the Dubai Tourism and the General Directorate of Residency and Foreigners Affairs (GDRFA) as per directives issued by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai.
UAE residents or any foreigners above the age of 55 years can apply for the five year visa via www.retireindubai.com. But before you apply, here’s all that you need to know about Dubai’s newly launched visa programme.
Who can apply for the retirement visa?
The applicant can be a UAE resident or a foreigner of at least 55 years of age.
The applicant must have a valid medical insurance cover in the UAE.
What about my family’s visa?
So the visa is renewable every five years and is available for you, your spouse and your children.
Are there any financial requirements?
Yes, there are a few terms and conditions to have access to this retirement visa, such as:
You must own a property in the UAE that is worth at least AED 2 million and not mortgaged.
You must have savings of at least AED 1 million in your bank account OR you must be able to provide a proof of a monthly income of AED 20,000.
OR you must own a property in the UAE and have savings in your bank account, both of their total worth should be no less than AED 2 million.