Indubitably, the UAE has become one of the most in-demand locations for visitors from all over the world. This is not merely by virtue of its thriving business scene; in fact, the top-notch living standards and appealing retirement possibilities are also associated with it. The UAE government offers numerous benefits to business owners, digital norms, and those seeking a gold visa; however, the retirement visa in Dubai ranks high on the list.
Moreover, if you’re an expatriate resident and have concerns about your status after ending your professional career, especially if you’re over 55 years old, there’s good news. Recent amendments in UAE law now allow for a retirement visa in Dubai, providing an option for workers who’ve spent significant time in the country.
Therefore, you don’t need to pack up and return to your home country; instead, you can apply for a retirement visa to stay here for an additional 5 years. Follow the articles to know the complete details about the requirements and cost of the application process.
Requirement for Dubai Retirement Visa
3 years ago, in November 2021, the UAE government introduced a few amendments to the law and announced the Dubai Retirement Visa for expat residents. Here are the following requirements that you must fulfill to secure this visa for 5 years more duration.
Importantly, you should’ve spent 15 years in the UAE while working and be over 55 years old at the time of retirement. Moreover, you should fulfill the one financial condition from the provided options below;
- Your monthly income should be AED 15K or dirham 180,000 yearly.
- You should have AED 1 million in savings in a 3 year fixed deposit.
- You must own a property worth AED 2,000,000.
How Much does the Dubai Retirement Visa Cost?
You need a total of AED 3,714.75 cost to secure this retirement visa. This amount included all visa-related expenses, including entry permits, visa status, Emirates ID, medical examination, and residency stamping. So, merely after spending Dirham 3,714.75, you don’t need to worry about the other expenses because all others are included in this cost. Following that, you can get professional guidance and process your application from the most trusted firm, Alriyady Corporate Services, for a smooth and hassle-free process.
How to apply for a UAE retirement visa?
There are 2 options available because it depends on your choice to pursue this. You can opt for the General Directorate of Residency and Foreigners Affairs (GDRFA), or the authority is the Dubai Land Department (DLD). If you’re applying on an income or saving base, then your application will come under the GDRFA. On the other hand, if you’re interested in sending your application on a property basis, then you’ll be dealing with the DLD.
- For both provided options, the application process is pretty simple; while choosing GDRFA, visit the website https://smart.gdrfad.gov.ae and then register yourself and via login, you can place your application anytime by filling out an online form.
- In contrast, to place your application with DLD, you must visit the real estate agency’s office in order to process this smoothly, which takes time and effort due to the numerous applications received; therefore, hiring a professional for this is a better idea than processing this individually. So, you can schedule your initial appointment with the Alriyady Corporate Services provider and get started on your application for your retirement visa in Dubai.
Documents Required for Retirement Visa in Dubai
While applying for a retirement visa in Dubai, the following documents are needed;
- A passport copy of an applicant, as well as your dependents. Moreover, you should provide a marriage certificate if you’re sponsoring your spouse as well.
- If you’re a UAE resident, then applicants should submit a current visa and a Copy of your Emirates ID along with the application form. Apart from that, here are some following additional documents that come under the different above mentioned requirement options; .
- As mentioned earlier, your monthly income should be AED15K or AED180,000 yearly. Therefore, you need to show proof of income from your previous employment and 6 months’ bank statements that show a minimum deposit of AED 15,000 monthly from a Dubai-based bank with a stamp.
- Furthermore, if you’re going to apply for your savings, then you should show proof of retirement, which can be a letter from your last company indicating you’re a retired person. Additionally, you must show the evidence of saving AED million in a 3 year fixed deposit.
- Moreover, if you’re applying on your property, then you need to submit a copy of the title deed with a minimum worth of AED million in the name of the applicant, not your spouse.
Benefits of Securing a Retirement Visa in Dubai
Besides living in the vibrant lifestyle of Dubai, you can enjoy a lot of privileges after obtaining a retirement visa. So, let’s take a bird’s eye view of some advantages:
- You can sponsor your spouse, and there is no limit on the number of children. However, ensure that boys are above 18 years old and girls are around 21 years old. Although sponsored children are allowed to study in Dubai, if they do not meet the age criteria, you will not be able to get this sponsorship.
- Impressively, retirement visa holders can easily enter and leave the UAE at their convenience. This permit is valid for 5 years without any restrictions that are often imposed on other visa categories.
How much does a UAE retirement visa cost?
After the approval of your application from GDRFA or DLD, you need to pay a total of AED 3,714.75 for a single application. This amount includes all visa-related expenses, similar to the digital nomad visa, such as Emirates ID, medical examination, and management fees.
Is the UAE good for retirement?
Well, it depends on personal choice; however, if you’re looking for an affordable place with sunny weather after retirement, then it’s the best place to retire and enjoy the remaining years of life.
On average, how long is the Dubai Retirement Visa application process?
After receiving the application completion email, the entire process usually takes up to 15 business days for the final announcement.
In a nutshell, if you’re an expat resident wondering about what happens once your professional career ends, you no longer need to worry. Because you can apply for a retirement visa in Dubai, allowing you to stay an additional 5 years in your dream country. Just make sure you fulfill the above-mentioned conditions.