Dubai Issues “Retire in Sun” Visa Scheme
The Government of Dubai recently announced a new 5-year residency Retirement Visa for foreigners aged 55 years and above looking to retire in a city that offers year-round sunshine.
A retired expatriate and spouse can qualify for the Retirement Visa based on the following eligibility options:
- Option 1: AED 20,000 (approx. USD 5,500) Monthly Income OR
- Option 2: AED 1 million (approx. USD 275,000) cash savings OR
- Option 3: AED 2 million (approx. USD 550,000) real estate property value in Dubai OR
- Option 4: A combination of Options 2 and 3 valued at least AED 2 million (approx. USD 550,000)
The Retirement Visa is valid for five years and can be renewed automatically online provided that the retiree continues to meet the eligibility criteria defined above.
This Retirement Scheme is one of a kind in the Middle East region and will focus on UAE residents working in Dubai who have reached retirement age.
“The Retire in Dubai program is based on the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to further enhance Dubai’s position as an iconic global city and make it the world’s most preferred lifestyle destination. Dubai’s Retirement Readiness strategy will enable expatriates and international retirees to take advantage of the city’s open-door policy, tolerance, and outstanding quality of life and live in one of the world’s fastest growing, culturally diverse cities,” Helal Saeed Almarri, Director General of Dubai Tourism, said in a statement on the Emirates News Agency (WAM).
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