What You Should Know about the Dubai Retirement Visa

Have you ever felt more at home somewhere other than your own home? They say that home is where the heart is, so it's important to follow that feeling if that’s how you think. For long-term residents of Dubai, this is something they can achieve much easier than you thought. 

If you have ever wanted to stay in the UAE after retirement, you're in luck. You might be able to with the announcement of the retirement visa, part of the new “Retire in Dubai” scheme. 

This new scheme will allow anyone 55 years old and above to live in the emirates on a retirement visa. It’s available to people across the world, particularly long-term Dubai residents. 

Here's what you should know about it!

What is the Dubai Retirement Visa?

As part of the new “Retire in Dubai” scheme announced by the Dubai government, long-term Dubai residents can now relocate without the need for a job. It is a government program that allows retirees to enjoy the lifestyle and benefits of the city without the need to work.

What are the Conditions?

Anyone who is 55 years old and above will be eligible for the Dubai Retirement Visa. The person will need to fulfill certain requirements, like a monthly income of at least Dh10,000, which must be equal to or higher than their annual rent. 

They also need to have a minimum of a year left on their visa. Once they have a retirement visa, they can live in the country for as long as they wish.

How to Apply?

Applying for and receiving a retirement visa is straightforward. For example, if you hold a valid work visa, you can also apply for a retirement visa. If you are an investor with a valid registered investment, you can apply for a retirement visa. If you are unemployed and a long-term resident, you can also apply for a retirement visa.

Although not compulsory, it is highly recommended that you take the online retirement visa orientation course before applying. This is a mandatory requirement when you want to be eligible for a retirement visa. The course teaches you about the history of Dubai and the development of the Emirate. You will also learn about the culture, transport, and housing.

The retirement visa costs you AED 500 and can be applied for by filling out an online application form. After that, you have to go to Ajman, where the application office is situated. After that, you will have to visit your bank and obtain a letter from them. 

The bank will have to be an Authorized Signatory Bank with the Dubai Financial Services Authority. The letter must be stating the amount of your monthly income. Once you have their letter, go back to Ajman. Once everything is done, you will get your visa within 24 hours.

Benefits

The main benefit of the Dubai retirement visa is that it allows you to live in the UAE without the need for work. You are eligible for a pension from the home country, and in Dubai, you can live comfortably on that pension.

There are some other benefits too. With this visa, if you require medical treatment, you can get it for free in public hospitals. You will also have access to the Dubai Health Insurance Fund. You can also enroll in subsidized government healthcare and other social benefits.

The Bottom Line

If you are a long-term resident of Dubai and plan to stay in the UAE after retirement, then this is an excellent opportunity for you. With this new scheme, you can enjoy a peaceful life and a healthy lifestyle. All you have to do is fulfill a few conditions, and you are good to go. It’s time you plan for a sound retirement and a great life.

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