UAE Retirement Visa

published on 9 November 2020 | reading time approx. 1 minute

In September 2020, the government of the United Arab Emirates (UAE) announced the introduction of a Retirement Visa as part of the Retire in Dubai program. The new visa offers resident expatriates and foreigners over 55 years of age the opportunity to stay in the emirate even after completion of work. The program was originally announced in 2018 and is one of a series of reforms that will expand the opportunities for foreigners to obtain and maintain residence visas in the UAE.

In the first phase of the initiative, only expats who are currently working and living in Dubai are eligible to apply. In the upcoming future, the program will be made available to foreigners as well. The first such program within the region is managed by the Department of Tourism and Commerce Marketing (Dubai Tourism) in cooperation with the General Directorate of Residency and Foreigners Affairs (DDRFA-Dubai). The new initiative presents Dubai as the world's preferred destination for retirement.

Applicants must be at least 55 years old and must keep a valid health insurance that covers the United Arab Emirates. The insurance must be obtained before submitting the visa application.

In addition, the applicant must meet at least one of the following criteria:

• monthly income of AED 20,000 (approx. 4,600€)
• financial means of AED 1 million (approx. 230,000€)
• Ownership of real estate in Dubai with a value of at least AED 2 million (approx. 460,000€)

A combination of options 2 and 3 (financial resources and real estate) for a total of at least AED 2 million (approx. 460,000€) is also possible. The application procedure takes approximately 15 days.

The Retirement Visa is valid for the eligible applicant, his/her spouse and children. Consequently, the entire immediate family can retire in the emirate. However, boys must be less than 18 years and girls less than 21 years old. If they exceed that age, they are not considered to be dependent and must therefore apply for their own (student) visa. Each sponsored family member must also have valid health insurance that covers the UAE.

The Retirement Visa is valid for 5 years. The visa can be renewed online if the aforementioned requirements are still being met. In addition, visa holders can continue to work if they are self-employed.