How can expats retire in Dubai?
Thanks to Dubai’s secure environment, excellent infrastructure and high quality of life, it’s no surprise that expat retirees are keen to make the city their forever home! After the introduction of the new retirement visa scheme, expat residents have several options for living in Dubai post-retirement. We offer a closer look at the different ways that expats can consider retiring in Dubai, as well as the conditions for eligibility.
Guide to retiring in Dubai
If you are keen to enjoy life in the UAE in your twilight years, here are the different ways on how to retire in Dubai.
Apply to the Retire in Dubai programme
Expat retirees can enjoy a high standard of living in Dubai with the recently-launched Retire in Dubai programme. Introduced in collaboration with Dubai Tourism and the General Director of Residency and Foreign Affairs (GDRFA), this retirement visa scheme grants eligible expats with a five-year residency visa.
This retirement visa in Dubai is open to expat residents above the age of 55 years, as well as their spouses and dependents, provided they meet one of the following criteria:
- Monthly income of AED 20,000 from pensions or previous employer
- Savings of AED 1M in a three-year fixed deposit in the UAE
- Property investment worth AED 2M (must be located in Dubai, not mortgaged and fully ready)
- Combination of savings and property investment worth AED 2M
You can apply for this Dubai retirement visa through Dubai Tourism’s official website. If your application meets the criteria, it will be processed by either the GDRFA or Dubai Land Department (DLD). This five-year retirement visa in Dubai is renewable, provided that you continue to meet the financial requirements. Please note that the retirees must have medical insurance, either from a local or international provider.
For more information on the Retire in Dubai programme, you can read up on our dedicated guide.
Apply for the UAE Golden Visa
Expats who are keen on retiring in Dubai can also choose to apply for one of the UAE’s long-term or golden visas. There are several categories that expat retirees could be eligible for, provided that they meet the necessary criteria.
These include the 10-year visa for general investors, which is granted to those with investments worth at least AED 10M within the UAE. Such investments could include deposits in an investment fund, the establishment of a company, or partnership with an existing or new company.
Another long-term visa in the UAE that expat retirees can apply for, is the five-year real estate investor visa. This is issued to expats with property investments worth AED 5M within the UAE. However, the property cannot be mortgaged or under a loan, and must be retained for at least three years to apply for this visa.
You can find out more about the UAE golden visas as well as the application costs in Dubai on MyBayut. The golden visa is renewable as long as the applicant continues to meet the criteria for the visa. Please note that there may be other requirements for the golden visa, which may differ on a case-to-case basis.
Establish or invest in a business
Aside from the long-term visas, expat retirees can also choose to get a three-year visa if they meet the Dubai investor visa requirements. This visa is issued to expats who have shares worth at least AED 72,000 in an existing company or are establishing one with a capital amount worth the same. This type of visa offers expat retirees the flexibility to continue working post-retirement.
Once the trade or business licence has been issued, then the application for the Dubai investor visa can be made through the Amer centres in the emirate. However, bear in mind that the minimum investment amount mentioned above applies to companies in Dubai’s mainland.
Expats also have the option of setting up a company in Dubai’s free zones, which also offer various options for investors. The minimum share capital, process and cost can vary depending on the free zone you’re interested in.
Invest in property in Dubai
Another option for expat retirement in Dubai is through the three-year property investor visa, which is issued to residents with property investments worth AED 1M and above. With this type of visa, expat retirees can enjoy benefits such as opening a bank account, obtaining a driving licence and acquiring an Emirates ID card. Moreover, holders of this visa will also be able to sponsor their family members.
However, there are several conditions to getting the three-year property investor visa in Dubai. For instance, the property must be fully constructed and inhabitable. The visa is also not granted based on the current market value of the property, but the amount that you paid for it. You can also apply for this visa if you own several properties worth at least AED 1M in total, or if you jointly own the property with your spouse. However, if the property is jointly owned with someone other than your spouse, your share of the property must be at least AED 1M to be eligible for the visa.
You can apply for this visa with a mortgaged property; however, 50% of the mortgage must be paid and you will require an NOC from the bank. You can contact the Dubai Land Department to learn more about this type of visa and its application process.
Get sponsored by your children
Expatriates looking to retire in Dubai can also have their residence visa sponsored by their children, if they live and work in the emirate, too. According to the GDRFA, the individual sponsoring their parents must have a minimum salary of AED 20,000 or AED 19,000 with two-bedroom accommodation. The sponsor must also provide proof that they are the sole providers for their parents. Another condition is that both parents must be sponsored together, unless in cases of death and divorce.
Find out more about the visa for family in the UAE, as well as the application costs and procedure with our complete guide.
Frequently Asked Questions
Here are answers to common questions about retiring in Dubai:
Is Dubai a good place to retire?
Dubai enjoys a year-round sunny climate and benefits from a low crime rate, which makes it an ideal place to retire. The city also has an abundance of recreational activities and offers a convenient and comfortable lifestyle for residents. Thanks to Dubai’s central location, residents can easily visit destinations across the globe.
How do I get a retirement visa in Dubai?
If you specifically want a Dubai retirement visa, you can apply to the ‘Retire in Dubai’ programme launched by Dubai Tourism. You will be able to get a five-year renewable retirement visa, provided that you meet the financial conditions.
Can I live in Dubai permanently?
While the UAE does not offer a permanent visa or residency, expats can apply for the long-term visas, which have a validity of 10 or 5 years. These visas are also renewable, if you continue to meet the eligibility criteria.
That concludes our guide for expats retiring in Dubai! As you can see, there are several ways that retired expats can continue to enjoy life in the emirate. It’s important to note that while most of these options allow you to sponsor family members, only some offer the flexibility to continue working post-retirement. Make sure to carefully research and evaluate the different visa options to choose the best one for you.
Entrepreneurs can also consider the recently-introduced UAE Business Golden Visa, which offers a five-year residence visa to non-nationals interested in setting up a business in the UAE. This is one of the many visa options in Dubai available for residents, tourists, students and more.
You can also get expert insights into Dubai’s new retirement visa scheme in our episode of Bayut Real Estate Bytes, which brings together industry leaders to discuss the latest developments in real estate market.
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