New five-year visa for expats to retire in UAE

New five-year visa for retired expats in UAE

  DUBAI - Expatriates will be able to stay in the UAE after retirement with a new five-year visa, according to the Dubai Media Office. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, announced on Sunday that expats will be allowed to stay in the UAE for a “longer period of time” after retirement. According to the Dubai Media Office, those eligible for the five-year visa are expatriates aged 55 and above. The plan to allow expatriates to remain in the UAE will take effect from 2019 after the Cabinet, led by Sheikh Mohammed, approved the plan. Expats who also wish to avail of the five-year visa after retirement need to have properties worth at least Dh2 million, or have at least Dh1 million in savings or an active income of more than Dh20,000 per month. Under the UAE law, the age of retirement is 65, although restrictions may apply on those aged 60. Earlier this year, the UAE made several visa changes to allow investors and employees such as doctors and engineers to have access to long-term visas. There are around eight million expatriates estimated to be living or working in the UAE. GAD/Expat Media

The #UAE Cabinet approved a law to provide special residency-visa privileges for expats retirees over the age of fifty-five years for a period of five years, with the possibility of renewal, according to specific conditions.

— Dubai Media Office (@DXBMediaOffice) September 16, 2018

In effect as of 2019, the law outlines requirements to qualify for the long-term visa such as having an investment in a property worth AED2 million, or financial savings of no less than AED1 million, or having an active income of no less than AED20,000 per month. #UAE

— Dubai Media Office (@DXBMediaOffice) September 16, 2018

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