All you need to know about the retirement visa in Dubai
As a long-term Dubai resident, have you ever wished that you could stay in the UAE after retirement? Well, that option is open thanks to the retirement visa in Dubai.
The ‘Retire in Dubai’ scheme allows those aged 55 years and above to stay in the emirate on a retirement visa. It is open to interested parties across the world, including long-term Dubai residents. The retirement visa in Dubai is the first-of-its-kind scheme in the region and can be availed by fulfilling a set of criteria.
ALL ABOUT THE RETIREMENT VISA IN DUBAI
The Dubai retirement visa scheme is a project by the Dubai Tourism and General Directorate for Residency and Foreigner Affairs (GDRFA). Following the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, the scheme was introduced to help expats and foreigners enjoy the unique benefits of living in the UAE after retirement.
Over the last few decades, Dubai has become a preferred destination for young professionals. But after reaching retirement age, most expats generally move back to their home country.
The five-year Dubai retirement visa changes that, allowing expats to make Dubai their forever home. Having said that, this scheme is only for those who meet some specific retirements for Dubai expats.
In the initial phase, the retirement visa scheme will focus on the current residents of Dubai who have worked in the emirate for more than a decade. This scheme will be a hassle-free retirement option for long-term residents. The scheme aims to boost the city’s economy. This would be partly enabled by the retired expats’ friends and family visiting them in the UAE, increasing tourist numbers and revenue.
CRITERIA FOR RETIREMENT VISA IN DUBAI
Here’s a look at the criteria for a Dubai retirement visa:
- The applicant has to be 55 years of age or older or have at least 15 years or more in the country.
- The applicant must have AED 15,000 monthly income, or AED 1 million in savings in a three-year fixed deposit, or at least AED 1 million worth of property in Dubai.
- A combination of income and saving valued at least AED1 million in a 3-year fixed deposit and a property worth AED 500,000.
The retirement visa in Dubai is valid for five years. International applicants must get their bank letters attested.
Documents Required
You will have to submit these documents regardless of whether you are a local or foreign applicant, specifically copies of the following:
- Latest visa: For UAE residents and their dependents.
- Marriage certificate: For spousal sponsorship.
- Emirates ID for dependents and applicants: For UAE residents.
- Passport dependents and applicants: Children and spouse.
Those seeking a retirement visa in Dubai must note that additional documents are required for all available options. This could include bank statements, proof of saving letter from the bank, proof of retirement letter and more.
A complete list of these is available on the Visit Dubai website.
Where to Apply?
You can apply for the Dubai retirement visa via any of two options, depending on your financial route:
- For savings applications: Dubai Land Department or DLDA
- For property-based applications: GDRFA or General Directorate of Residency and Foreign Affairs.
As a part of the application process, candidates must undergo a medical exam. Here is the process for the Dubai medical report for visa check online. Once your application is approved, you can buy a medical plan that suits your needs.
International applicants can use their existing insurance plan, provided it has coverage in the UAE, with a letter from the company.
RETIRE IN DUBAI VISA FEES
The applicant must pay a total of AED 3,714.75 or USD 1,011 after approval by the DLD or GDRFA. This fee includes:
- Entry permit
- Residency stamping
- Emirates ID
- Management fee
- Medical exam
- Visa adjustment
RETIREMENT VISA RENEWAL
As per the retirement visa scheme, the visa would be renewed automatically if the applicant continues to meet the set criteria.
Frequently Asked Questions
What are other available Dubai visas?
Apart from the Dubai visa for retired citizens, you can apply for others in the emirate. Your options for Dubai visas include tourist and student visas.
What are special visas?
The emirate has made it easy for everyone, from international investors to business owners, to apply for entry into the country. You can apply for special visas in Dubai for conditions like event attendance and even for sponsoring parents as a student. Similarly, those interested in purchasing real estate in the country can apply for a Dubai investor visa.
Can I live and work as a freelancer in the emirate?
Those who want to work freelance can apply for a freelancer visa in Dubai. Alternatively, a work visa in Dubai is also a good option.
The retirement visa in Dubai is part of a larger initiative by Dubai Tourism and the General Directorate for Residency and Foreigners Affairs to make this beautiful city a more inclusive emirate. Now people can retire in Dubai and enjoy the privileges that come with living in a multicultural place.
Thinking of applying for a UAE visa? Visit MyBayut to learn about the different types of UAE visas you could opt for.
