Insights September , 2020

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 1AED 20,000 (approx. USD 5,500) Monthly Income OR
  • Option 2AED 1 million (approx. USD 275,000) cash savings OR
  • Option 3AED 2 million (approx. USD 550,000) real estate property value in Dubai OR
  • Option 4A 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).

Disclaimer on Use

The information presented is intended for general information only and is not meant to be a substitute for professional advice or to be used for decision-making.

Professional advice relies on an assessment and understanding of the specific situation for each person and, therefore, the application of changing laws and regulations in the UAE, will vary widely from case to case.

The information contained herein is based on facts available from sources we believe to be credible at the time of publication and is subject to change.