Have you fallen head over heels in love with Dubai as a resident? Do you ever consider retiring to Dubai and wonder if it's a possibility? It could be the ideal solution, and it's not that far away.
In this short guide, we've gathered all the information for you:
What Is a Retirement Visa in Dubai?
The Dubai retirement visa is a long-term renewable visa for retired expats, their families, and their children who wish to live in Dubai.
How long will the visa be valid?
In Dubai, it is a 5-year retirement visa with the possibility of renewal if the conditions are met after that period. Renewals can be completed online.
What is the minimum age requirement for applicants?
To be eligible for a retirement visa, applicants must be 55 years old or older.
To be considered, the applicant's children must be under a certain age: Boys must be under the age of 18 and girls must be under the age of 21. They will apply for student visas once they reach this age.
What Are Dubai's Visa Requirements for Retiring?
The following are a few financial conditions for the "Retire in Dubai" scheme; only one of them must be met:
- The retiree must have a monthly fixed income of at least AED 20,000 from a pension or his or her previous employer.
- Alternatively, they should have savings account worth AED 1 million.
- A third choice is to own a Dubai real estate property worth at least AED 2 million that is not mortgaged.
- You should combine the first two points with a total valuation of at least AED 2 million, which includes a three-year fixed deposit and the value of the unmortgaged home.
Is it possible for non-UAE residents to apply for a retirement visa?
Yes, this choice is available to those who are not currently residing in the United Arab Emirates.
What Documents Are Necessary for a Visa to Retire in Dubai?
You will find a list of required documents for the application here:
- Copies of applicants' passports and those of their dependents
- In the case of sponsoring partners, a copy of the marriage certificate is needed.
- In the case of residents, a copy of their new UAE visa for themselves and their dependents.
- In the case of residents, a copy of the applicant's and dependents' Emirates ID.
According to your chosen requirement, the following documents are required:
- If your monthly fixed income is AED 20,000, you'll need to:
- Proof of retirement letter, such as an end-of-service letter or a social welfare letter, is needed to prove your eligibility for a Dubai retirement visa.
- 6-month bank statement from a Dubai-based bank with the beneficiary's name and the date of the pension's commencement.
- If you have AED 1 million in savings, you'll need the following.
- Letter of retirement evidence
- A letter from a UAE-based bank confirming your savings.
- If you buy a property in Dubai worth AED 2 million and don't have a mortgage, you'll need a copy of the title deed, which must be in the applicant's name, completely paid, not off-plan, and in Dubai.
- The following documents are needed if you have AED 2 million in savings and property worth AED 2 million:
- Letter with proof of savings
- A copy of the title deed is available.
In Dubai, how does a candidate apply for a retirement visa?
You don't have to be concerned because the application process for the Dubai retirement visa program is very easy. It's all done online; here's what you need to know:
You submit an email with a completed application and all supporting documentation to [email protected].
You will be expected to pay a non-refundable fee of USD 25 through the connection that will be emailed to you; this is just a processing fee and does not guarantee approval; it is the total cost of a Dubai retirement visa application.
After the payment has been received, the records will be reviewed, and if any are incomplete, contact will be initiated.
Once your application has been accepted internally at Dubai Tourism, it will be forwarded to the appropriate body.
An application for income and savings will be handled by the General Directorate of Residency and Foreigners Affairs (GDRFA).
A property application will be handled by the Dubai Land Department.
Is it necessary to have health insurance to apply for a retirement visa in Dubai?
No, when applying for the visa, you do not need to have medical insurance. However, if you are approved, you will be subjected to a medical examination and will be required to purchase medical insurance.
Applicants with foreign medical benefits will use it if the insurer provides a letter confirming that the UAE is covered by their policy.
If you're over 55, this Dubai retirement visa program is your opportunity to retire in a country where anything is possible, such as the United Arab Emirates.