Dubai Launches 5-Year Retirement Visa For Residents And Foreigners

Dubai is launching some good schemes for its citizens. After introducing the landmark paternity leave for private-sector employees, the government has now announced a new first-of-its-kind retirement visa plan for senior citizens. His Highness Sheikh Mohammed Bin Rashid Al Maktoum, the Vice-President and Prime Minister of the UAE and Ruler of Dubai, and Dubai Tourism launched an initiative for retired people around the world to apply for a retirement visa in Dubai.

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Residents And Foreign Citizens Aged Above 55 Can Apply For the Five-Year Retirement visa

People around the globe can apply for the visa in Dubai. Locals or any foreigner aged above 55 years can apply for a five-year retirement visa on http://www.retireindubai.com

However, there are a few requirements that one needs to fulfil before applying for the visa. The person applying for the visa should have a monthly income of AED 20,000 from investments or pensions or AED 1 million in savings or property in Dubai worth AED 2 million.

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Dubai Tourism Partners With Various Companies To Develop Schemes For Retirees

To make the offering viable for everyone, Dubai Tourism has worked with various partners to develop schemes for retirees. The scheme covers healthcare, real estate, insurance and banking.

The Government of Dubai Media Office said,

“In its initial phase, the programme will focus on UAE residents working in Dubai who have reached retirement age. The programme offers long-term residents of the city who know Dubai’s value proposition an easy and hassle-free retirement option. Dubai’s proximity with the native countries of a large majority of residents makes it a convenient retirement destination for them.”

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Dubai Tourism has also arranged banking options that will help people to own a property that fits their lifestyle. And this option applies only to the retirement visa holders.

On this, Helal Saeed Almarri, Director-General of Dubai Tourism, said the emirate’s “retirement readiness strategy” will enable expatriates and international retirees to take advantage of the city’s “open-door policy, tolerance, and outstanding quality of life”. He further added:

“With the continued support of our stakeholders and partners including GDRFA-Dubai, the retirement programme will contribute towards our tourism economy by facilitating frequent visits from families and friends of the retirees and increasing visitation from markets with a high retiree population. It will also have a wider effect of promoting Dubai as a retiree-friendly destination while highlighting the city’s unparalleled lifestyle and diverse destination offerings and experiences.”