Five-year retirement visa in UAE - Full Guide
- Author- Rose Mary
- Publish Date-
Some people are planning to stay in UAE after their retirement, there are many options a person can use. As UAE is considered the best place for retirement and it is the safest place for the people who wish to live there. There is a recent announcement for the people who want to live in Dubai after their retirement.
There is a new scheme under which there are people who want to live in Dubai after their retirement, it is called the “Retire in Dubai”. Under this scheme people who are eligible for living in Dubai is that they must be the age of 55 years old. This is the age which is required for the scheme of the “Retire in Dubai”.
Under this scheme people who want to retire in Dubai, they can apply for a retirement visa for Dubai. They just have to be eligible for the retirement visa Dubai, all the people who want to apply for the retirement visa. This is the first-of-kind visa, that is made possible for people to come to UAE after retirement.
This is the visa that a person can take the visa who fulfills the visa requirements, they are eligible for visa. they just need to fulfill the criteria for the 'retirement visa Uae'. certain requirements are needed to be fulfilled by the person traveling.
About the Retirement visa for Dubai
The “retirement in Dubai” scheme is made by the Dubai Tourism and General Directorate For Residency and Foreigner Affairs(GDRFA). Under this scheme, people can go for a retirement visa in Dubai if they can fulfill the criteria for the visa. This was made possible by his highness“ Sheikh Mohammed bin Rashid Al Maktoum” for the people who want to retire in Dubai.
This is a great initiative made by the government of Dubai for the people who want to live in Dubai after Retirement. There is a great opportunity for the youngsters for a job, so many people are shifting there especially the younger generation. Even if the locals of Dubai move out of the country for work, they tend to come back to Dubai after their retirement. The reason is they provide the best lifestyle for the people after retirement.
In the earlier phase, this retirement scheme was only for the people who are locals of Emirates or the people who are residents of Emirates. The infrastructure of Dubai has been made so good that people want to stay there more often, due to this reason many people want to shift to Dubai after their retirement. The scheme for Dubai retirement or “retirement in Dubai” will boost the economy of Dubai, this will help their city to grow more. When people shift to Dubai after their retirement, their friends or family will visit them after their retirement so that will also increase their economy and this will also help them to increase their tourism.
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The criteria for the Retirement Visa in Dubai
There are certain criteria for the retirement of Dubai, that needed to be fulfilled by the person who wants the retirement visa in Dubai.
The person who is applying for the retirement visa in Dubai must be of 55 years or older.
This is the main factor for the retirement visa in Dubai, that they will not sit in Dubai ideal after their retirement.
- The monthly income of the person applying for the Retirement visa in Dubai must be AED 20,000, or
- They must be having savings of AED 1 million, or
- They must be having AED 2 million property in Dubai, or
- They must be having the combination of AED 2 million at least.
These are the conditions that must be fulfilled by the person for the retirement visa of Dubai. There was a condition before for the retirement visa of Dubai that they have to buy medical insurance, but now under the new guidelines, they don’t have to buy the medical insurance.
The person who wants the retirement visa, they have to undergo medical insurance. It is up to the person who wants the retirement visa, what suits him or her for the medical test, they can book accordingly.
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Fees for a retirement visa in Dubai
There are the fees that have been announced by the government of Dubai, here is the breakdown of the fees:
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Renewal of the retirement visa of Dubai
There are no set criteria for the renewal, if the person is meeting the criteria for the visa then there is no need for the person to renew it. This is the scheme which was made under the travel scheme to increase travel in Dubai. This has been made growth in increasing the economy of the city and the also the tourism sector of the city.