Unlock High ROI's on property
Invest Smart, Invest with Provident
Discover a World of Opportunities to Maximize ROI.
Planning to retire overseas? Look no further than the magical 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.
4 Reasons to Retire in Dubai
Can foreigners retire in Dubai? Yes! Through the fantastic scheme of the UAE retiree visa, you can enjoy a stress-free life in the Emirates after retirement. Here is why you should choose the UAE for your post-work life:
- You will be considered a resident if you get a UAE retirement visa. Holding this multiple-entry visa means you can travel in and out of the country whenever you like.
- With sandy beaches, stunning golf courses, and mountain escapades, you have many options to stay active and maintain a healthy lifestyle.
- The UAE is one of the safest countries, attributed to its effective police and surveillance systems. This makes it an ideal place for retirees seeking a secure and protected living environment.
- You can enhance your financial security while living in Dubai by either starting your own business or investing in off-plan projects. One of the major benefits of property investment is the rental income, which allows you to enjoy a lavish lifestyle in the city.
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.
FAQs About Retirement Visa in Dubai
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.
For more information, get in touch with us at Provident