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Your Golden Years Deserve Dubai's Golden Visa
Planning to retire overseas? Why not consider the UAE? With a multicultural population, dining options to rival New York, and an enviable lifestyle, the Emirates has plenty to offer. The retirement visa in Dubai is a golden opportunity to settle in one of the world's fastest-growing countries. It offers a renewable 5-year residency to applicants meeting specific financial criteria. Let’s find out all about this special visa program for retirees.
5 Reasons to Retire in Dubai
Can foreigners retire in Dubai? Yes! Through the fantastic UAE retiree visa, you can enjoy a stress-free life in the emirates after retirement. Here is why you should choose Dubai for your post-work life:
- Residency Privileges: Holding a UAE retirement visa means you'll be officially recognized as a resident. This multiple-entry visa gives you the freedom and flexibility to travel in and out of the country as frequently as you wish, ensuring seamless mobility and ease of access.
- Active and Healthy Lifestyle: Dubai provides an ideal setting to maintain an active and healthy lifestyle. Whether you prefer relaxing on sandy beaches, perfecting your swing on world-class golf courses, or exploring scenic mountain trails, the UAE offers diverse opportunities to stay fit and energized.
- Safety and Security: The UAE consistently ranks among the safest countries globally, thanks to its advanced security measures, effective police force, and comprehensive surveillance systems. Retirees seeking a peaceful and secure living environment will find Dubai especially attractive.
- Financial Security and Investment Opportunities: Dubai offers excellent avenues to enhance your financial security post-retirement. You can either start a business or invest in promising off-plan projects. Property investment in Dubai comes with significant advantages, including rental income that supports a lavish and comfortable lifestyle.
- World-Class Healthcare System: Dubai boasts an exceptional healthcare system with internationally accredited hospitals and highly skilled medical professionals. Retirees have access to state-of-the-art healthcare services, ensuring peace of mind and top-notch medical care throughout their retirement years.
Who is Eligible for the UAE Retirement Visa?
Retirement planning in Dubai involves careful consideration of financial goals and investment strategies to ensure a secure and comfortable life in this dynamic and cosmopolitan city. Retired individuals over 55 can apply for a UAE 5 year retirement visa if they meet one of the following criteria:
- Income: The minimum annual income is AED 180,000 (approximately US$49,000) or AED 15,000 (US$4,100) monthly.
- Savings: A fixed deposit of AED 1 million (approximately US$275,000) held for 3 years.
- Property: Ownership of a property valued at AED 1 million (US$275,000).
- Savings and Property: The minimum value of AED 1 million comprises a three-year fixed deposit and properties valued at AED 500,000 each.
Application Process for Retirement Visa in Dubai
To apply for a retirement visa for UAE residents, follow these steps based on your chosen visa route.
Via GDRFA:
If you meet the savings criteria, you can apply for a retirement visa in the UAE through the General Directorate of Residency and Foreign Affairs. Visit the immigration authority’s official website, register, and log in to initiate and submit the online application.
Via DLD:
Retirees who own a property can apply through the Dubai Land Department. To submit the application, visit the DLD’s office near you.
You must pay a total fee of AED 3,714.75 (approximately US$1,011) as the retirement visa Dubai cost. This covers the entry permit, visa status adjustment, residency stamping, Emirates ID, medical examination, and management fees. Once your application is complete, the process typically takes up to 15 working days.
Documentation Requirements
You need to submit the documents below as part of the Dubai retirement visa requirements:
- Passport, marriage certificate (if applicable), current visa, and Emirates IDs.
- (Income): Proof of income and 6-month bank statement.
- (Savings): a retirement letter and savings letter from a UAE-based bank.
- (Property): Copy of title deed with specified criteria
- (Savings & Property): Copy of title deed and savings letter from a UAE-based bank.
What Should You Know Before Retiring to the UAE?
Cost of Living in Dubai for Retirees
Dubai offers retirees a high standard of living, but it's essential to understand the typical monthly expenses. Housing is the most significant cost, with rentals ranging from AED 40,000 to AED 150,000 annually, depending on the area and property type. Healthcare expenses are manageable, especially when opting for comprehensive insurance plans, averaging around AED 5,000 annually.
Food costs for groceries and dining out typically range between AED 2,000 to AED 5,000 per month. Entertainment and leisure activities, including cultural events and social clubs, may add another AED 1,500 to AED 3,000 monthly.
Additionally, transportation expenses, whether by car or public transport, average around AED 500 to AED 2,000 monthly, making the retirement visa Dubai an attractive choice for retirees seeking comfort and convenience.
Cultural and Social Life for Retirees in Dubai
Dubai boasts a vibrant cultural and social life, perfectly suited for retirees. Various clubs and social groups, such as the Dubai Seniors Social Club, offer numerous opportunities for networking and socializing.
Cultural attractions like the Dubai Opera, art galleries in Alserkal Avenue, and historical sites in Al Fahidi district ensure retirees have plenty to explore and enjoy. Regular events, such as food festivals, international exhibitions, and sports events, keep the social calendar lively. All these enriching experiences make the UAE retirement visa a rewarding option for culturally engaged retirees.
Tax Advantages for Retirees in Dubai
One of the most compelling reasons to retire in Dubai is its tax-free income policy. Retirees benefit significantly from having zero income tax on pensions, investment returns, or rental income. Additionally, there are no capital gains taxes or inheritance taxes, offering further financial incentives to relocate.
This tax-friendly environment significantly enhances financial security, making the retirement visa UAE an excellent financial decision for those looking to maximize their retirement savings.
Healthcare Insurance Options for Retirees
Securing reliable healthcare insurance is straightforward in Dubai, with multiple providers offering comprehensive plans tailored to retirees. Retirees holding a retirement visa must obtain mandatory health insurance, typically costing between AED 2,500 to AED 10,000 annually, depending on coverage levels.
Providers such as Daman, AXA, and Orient Insurance offer extensive networks of healthcare facilities across the UAE. Choosing suitable healthcare coverage ensures retirees can access world-class medical care promptly, adding to the overall attractiveness of the UAE retirement visa.
FAQs About Retirement Visa in Dubai
The cost of obtaining a retirement visa in Dubai varies based on the application route and associated services. According to the Dubai Land Department (DLD), the total fee for a new 5-year retirement visa is AED 6,984.75, which includes medical examination, Emirates ID issuance, residency permit confirmation, DLD fees, and administrative charges.
Alternatively, the General Directorate of Residency and Foreigners Affairs (GDRFA) outlines a fee structure totaling AED 3,595, covering the residence permit fee, knowledge and innovation dirhams, internal processing fees, delivery, golden residency fees, and identity card issuance. Applicants should note that these fees are subject to change and may vary depending on individual circumstances and additional services required.
To qualify for a retirement visa in Dubai, applicants must be at least 55 years old and meet one of these financial criteria: have a monthly income of at least AED 15,000, possess savings of AED 1 million in a three-year fixed deposit, own property valued at AED 1 million, or hold a combination of savings and property worth AED 1 million, with each component valued at a minimum of AED 500,000. Additionally, retirees must have valid UAE health insurance.
You can begin your application without upfront medical insurance. However, after visa approval, you must undergo a medical test and obtain suitable health insurance as soon as possible. International insurance is also acceptable if submitted with a letter confirming coverage in the UAE.
Yes. Retirees can sponsor spouses, children, and parents with valid health insurance covering the UAE.
A retiree can live in Dubai without a visa option if they are sponsored as a dependent by an individual (usually a spouse or child) who already has a resident visa in the UAE.
Yes, you can work in the UAE while on a retirement visa, as long as you self-issue a 'no objection certificate' (NOC) or letter allowing you to pursue lawful employment options.
Expatriate residents in Dubai and the UAE have the option to retire at the age of 60. Nevertheless, they can extend their working years until age 65, provided their employers successfully apply for the necessary permits.
For employees surpassing the UAE visa age limit of 60, the application for work permits must be submitted through MoHRE (Ministry of Human Resources and Emiratisation).
Yes, you can. The UAE government offers Golden visas for investors, entrepreneurs, and highly skilled individuals. This renewable visa, offering 5 to 10 years of residency, is the most stable option for staying longer in the UAE.
As an expatriate, meeting the minimum criteria for a retirement visa is essential. You must fulfil one of the following conditions: An annual income of AED 180,000 from pensions and other sources or maintain savings of AED 1 million in a 3-year fixed deposit account.
Several communities in Dubai are especially appealing to retirees due to their amenities, lifestyle, and community spirit. Arabian Ranches, known for its tranquil villas and lush greenery, offers retirees a serene living environment. Palm Jumeirah, with its luxury beachfront properties, presents an ideal location for those looking to enjoy a lavish retirement.
Dubai Marina and Jumeirah Lakes Towers (JLT) provide vibrant community living with numerous restaurants, cafes, and convenient amenities. These communities are secure, easily accessible, and well-connected, further enhancing the appeal of obtaining a retirement visa.
For more information, get in touch with us at Provident