The ‘Visit Dubai’ announced on their Twitter account of the Dubai Media Office that the Retire in Dubai initiative facilitates “a global retirement program.” It offers foreign retirees of 55 years and above the chance to retire in Dubai and start a new chapter of their life.
It was launched on September 2, 2020.
The Dubai Retirement Visa comes after the September 2018 decision by the UAE Cabinet of a policy granting retired residents of more than 55 years a long-term visa for 5 years. It is renewable if the applicant maintains the eligibility requirements.
According to the official website of Visit Dubai, to qualify for the program, the foreign retiree should meet the requirements for finances and age. The required conditions are:
|Age||55 years and above|
|Financial requirements||Any 1 of the criteria to be fulfilled –|
|Option 1: Monthly income of AED 20,000|
|Option 2: Cash savings of AED 1 million|
|Option 3: Property in Dubai of AED 2 million|
|Option 4: A combination of Options 2 and 3 above, valued at least AED 2 million.|
After submitting the required documents, the application processing for the Retirement Visa for Dubai is approximately 15 days.
People with the Retirement visas are permitted to work as independent workers, advisors, consultants, board members, and the like.
The holders of the visa can also fund their children’s education in Dubai. The boys need to be below 18 years of age, and the age limit for sponsorship for girls is 21 years. Children above the age limit do not qualify as dependents. They are required to apply for their own study visa for Dubai.
Dubai is advertised as the world’s top choice for settling after retirement. The Retire in Dubai program has been formulated by Dubai Tourism and the GDRFA or General Directorate of Residency and Foreigners Affairs.
The recent initiative is the first scheme in the region for retired people. It is aimed at foreign retirees and expatriates.
The government of Dubai announced the launch of the program for global retirement, as per the orders of HH Sheikh Mohammed bin Rashid Al Maktoum.
Dubai Tourism has collaborated with its partners to develop critical propositions for retirees in healthcare, real estate, insurance, and banking to sustain the program.
In the initial phase after its launch, the program focussed on UAE residents working in Dubai who had attained their retirement age.
His Excellency Helal Saeed Almarri, the Director-General of UAE Tourism, has announced that the strategy for Retirement Readiness developed by Dubai will facilitate international retirees and expats to benefit from the open-door policy, tolerance, and excellent quality of life while settling in one of the fast-growing, culturally diverse places in the world.
The program of Retire in Dubai has been developed around seven vital factors making Dubai an ideal destination for retirees. The factors are:
|Unique lifestyle||A cosmopolitan destination, Dubai is home to 200 nationalities. While Arabic is the official language, Dubai is a multi-lingual city where English is widely spoken.|
|Convenience||Dubai offers a hassle-free comfortable lifestyle with a wide range in conveniences.|
|Recreation||The city offers numerous options, for recreation and relaxation.|
|Society that is fit and active||Retirees in Dubai get access to a healthy outdoor lifestyle and various fitness options.|
|Proximity and connectivity||Dubai has a highly-connected infrastructure, both in the physical sense as well as technologically. Dubai International [DXB] airport has connectivity with over 240 destinations worldwide.|
|World-class healthcare system||Dubai has a robust healthcare system, providing the highest quality of healthcare across a wide range of specializations.|
|Legacy management||Enhanced services have been developed for ensuring that retirees enjoy their life in Dubai, with the perfect confidence that they assets are safe and can securely be passed on to their loved ones.|
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