Dubai has a very diverse culture, and people from all over the world come here to do jobs. Some people spend more life in Dubai than in their country. So, after retirement from a job, they don’t want to leave Dubai. By keeping this in mind, Dubai’s government introduced a retirement visa in Dubai. It’s a fantastic opportunity for those who don’t want to leave Dubai and want to spend their whole life here.
This blog will discuss the eligibility and procedure to get this retirement visa in Dubai. It’ll be best to have some knowledge before applying for a visa.
Eligibility of Retirement Visa in Dubai
UAE Retirement Visa is for those who have retired from their jobs and are over 55 years old. It doesn’t matter whether you previously did a job in Dubai. If you were doing a job in any other country and now want to live in Dubai after retirement, you’re eligible to apply for this retirement visa.
There’s no doubt that the young generation wants to go to Dubai and live there, but now Dubai’s government wants to build a community of every age in Dubai. Since it’s an excellent opportunity for you if you want to live here in Dubai.
Aside from age, there’re other criteria to apply for a retirement visa in Dubai. You must have worked for 15 years or more in or outside the UAE. And one of the following criteria must be fulfilled.
- Your monthly income should be 15,000 AED or more.
- There should be a minimum of 1M AED savings in 3 years fixed deposit.
- Investment of 2M AED in a property.
If you’re eligible as per these criteria, you can apply for a five-year retirement visa in Dubai.
How do you apply for a retirement visa in Dubai?
In Dubai, GDRFA handles visa-related matters. If you’re already in Dubai, you can visit their office. But if you’re not in Dubai, you must visit Dubai on a visit visa and then apply for a retirement visa by visiting the GDFRA office.
When you apply for a retirement visa, it’s recommended to go with all your documents, especially with a retirement letter from your company.
Benefits of Retirement Visa in Dubai
There are various benefits of a retirement visa in Dubai. After getting this visa, you can enjoy Dubai resident’s rights. Now, if you go outside the UAE, you don’t need visa approval to return to the UAE. Furthermore, there’s no requirement to spend a specific number of years in the UAE like other resident visas.
You can sponsor your spouse and children since you’ve got a retirement visa, and there is no limit to the number of children. But there’s an age limit for children; you can sponsor boys under 18 years old and girls under 21 years old. If you’ve children over this age limit, they can apply for a visa to come to Dubai. But as a sponsored child, you’ve got a right to study in Dubai.
At the age of 55, healthcare facilities are most important. Although, with this retirement visa, you will get healthcare benefits. But we recommend having health insurance as it’ll be easy for you if you face some unhealthy conditions.
As a benefit of a retirement visa, you can open a bank account in Dubai and manage your finances efficiently. You can invest in Dubai wherever you want. It’s more efficient to invest in a stable economy and business-friendly environment.
Challenges in Dubai as a Retiree
We must see the other side of the coin as you may face some challenges in Dubai as a retiree if you’re on a retirement visa. Before getting a visa, the monthly income or investment amount could be a problem for you as a retiree. Furthermore, the cost of living, especially healthcare, could be high for you after you move to Dubai. It’s advisable to plan things according to your budget, or you may ask for help from experts.
Dubai’s weather, especially in summer, could be a problem for some people as there’s so much heat in the summer conditions. You may face issues if you’re allergic to heat or have sensitive skin.
Final Words
In final words, a retirement visa in Dubai at the age of 55 is a fantastic opportunity for all individuals if they want to spend a quality life and like the environment of Dubai. In this blog, we have covered all the relevant aspects of a retirement visa, and still, if you’ve any questions, feel free to contact Alriyady Corporate Services.
Retirement visa in Dubai isn’t only about having the rights of a resident, but with these rights, you can enjoy the multi-cultural city of Dubai and its lifestyle. However, the requirement for eligibility may sound strict to you but the purpose of these requirements is to make sure that you have a comfortable life without any problem.
In the end, it would be best if you checked all the requirements when you applied for a retirement visa in UAE so that you could get the latest information.
