Dubai offers a world of convenience and safety to allowing to its world-class infrastructure and secure environment. No wonder, it is rated one of the top 10 countries in the world for its high quality of life. That has compelled many to dream about residing in Dubai forever. Whether you’re a young professional working in Dubai or about to retire and thinking about a way to make Dubai your permanent home after retirement, then there is a piece of good news for you. Dubai has announced its new visa schemes for ex-pats retiring in Dubai. If you’re an ex-pat about to retire, you’ll need a retirement visa in Dubai.
What is a Retirement Visa?
A retirement visa is a noble thought of the ruler of Dubai – Sheikh Mohammed bin Rashid Al Maktoum that is been implemented by the Dubai Tourism and General Directorate for Residency and Foreigner Affairs (GDRFA). By introducing the retirement visa scheme, Sheikh Mohammed bin Rashid Al Maktoum has given a fine present to the ex-pat retirees who wish to continue living in the UAE even after their retirement. The announcement of the 5-year retirement visa in Dubai has brought a smile to the face of many expat retirees.
The retirement visa scheme has also brought a ray of hope for the young professionals who tame the dream of working and living in Dubai for their lifetime. It will attract more and more young professionals to work in Dubai. However, the visa scheme at present is only for those who meet the retirement criteria for Dubai expats.
The visa scheme has been implemented in two phases. First, it will be offered to those who have worked in the UAE for more than 10 years and are long-term residents of the UAE. Besides attracting more and more professionals from all over the world, the visa scheme will enable the expat retirees to make Dubai their home. Moreover, the retirement scheme will also help in growing the city’s economy through the visits that will be paid for by the friends and relatives of the expats. When the number of footfalls increases, it will directly boost the tourism industry and thus revenue will be generated.
Mr. Al Marri, the Director-General of Dubai Tourism says, “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.”
The second phase of the retirement scheme to invite international applications will be declared at a later stage.
Eligibility Criteria for Expats retiring in Dubai
The eligibility criteria for the retirement visa scheme for ex-pats retiring in Dubai are:
The minimum age is 55 years or above at the time of applying
A monthly salary of AED 20,000 along with a saving of AED 1 million, or owning a property in Dubai worth AED 2 million. The applicant is also eligible for the scheme if he or she is holding a minimum of AED 2 million worth of saving and property in combination.
One good amendment in the visa scheme for expats retiring in Dubai is the exemption of holding medical insurance before applying for the visa scheme. By eliminating the need for medical insurance at the time of application, the Dubai government has provided a great relaxation for expat retirees. However, the applicants must pass a medical test when applying. The applicant is free to buy medical insurance that suits his or her needs after the approval of the application.
How to apply for a Dubai Retirement Visa
If you’re on a Dubai remote work visa, you can approach a branch of the General Directorate of Residency and Foreigners Affairs (GDRFA) in Dubai.
Applying for the Dubai retirement visa is mandatory even for those expats who are eligible for a visa on arrival.
The approval and rejection of the Dubai retirement visa application will solely rest with the General Directorate of Residency and Foreigners Affairs (GDRFA). The GDRFA also owns the right to make any amendments or changes in the eligibility criteria of the Dubai retirement visa scheme without any prior notice or as deemed necessary.
Fees for Dubai Retirement Visa
The applicant must pay for an Emirate ID, medical test, and retirement visa.
Here is the break-up of the fee:
Retirement Visa – AED 888.75
Medical Test – AED 753
Emirates ID – AED 572.50
The total of these three comes to AED 2,214.25.
(Note that: the Fee for the Dubai retirement visa is liable to change as per the will and discretion of the GDRFA).
Criteria for Renewal of the Dubai Visa
The only criteria as of now to renew the retirement visa is to follow and meet the set criteria. If one abides by the rules, there won’t be any problem.
Dubai is a safe city, culturally diverse, and has the best healthcare facilities in the world. Moreover, many Dubai residents can understand and speak English very well. Apply for a Dubai visa online, where you can find everything about all types of UAE visas.