It is now possible to retire in Dubai, following the government’s announcement on Wednesday that both foreign residents and people living abroad over the age of 55 can apply for the new retirement visa.
Previously expatriates who lived and worked in Dubai would be forced to retire abroad once they ceased working and their work visa expired.
But with the launch of the Retire in Dubai program – believed to be the first of its kind in the Arabian Gulf – eligible applicants can now apply to retire in the country, with their visa subject for renewal every five years.
Here are the rules for retiring in Dubai, including who is eligible and how to apply for retirement.
#Dubai Tourism and DNRD launch region’s first global retirement programme, ‘Retire in Dubai’, for 55 year-old and above international expats that fulfil certain financial criteria and hold valid UAE health insurance. Apply here: https://t.co/DCc4D3VIvQ #Retirement @GDRFADUBAI pic.twitter.com/LfMVbotA52— dubaitourism (@dubaitourism) September 3, 2020
Requirements to retire in Dubai
Anyone seeking to retire in Dubai must be aged 55 or older.
The applicant must have valid health insurance that is covered in the United Arab Emirates. The insurance must be purchased before the visa application is submitted.
They must also fulfill one of the following three financial requirements.
Option 1: Have a monthly income of 20,000 dirhams (approximately $5,000).
Option 2: Have cash savings of 1 million dirhams (approximately $275,000).
Option 3: Own property in Dubai, valuing at least 2 million dirhams (approximately $550,000).
Option 4: Have a combination of options 2 and 3 (cash savings and property) valued at least 2 million dirhams (approximately $550,000).
How do I apply to Retire in Dubai?
Apply to retire in Dubai via the official website: https://www.visitdubai.com/en/sc7/retire-in-dubai/apply-now
After submitting a name, email, and phone number, Retire in Dubai will send the applicant an email with further information and instructions on which documents are required.
The applicant will then need to submit the required documents via email to RetireInDubai@dubaitourism.ae
Retire in Dubai will then confirm the status of the application within three working days.
Which proof or documents do I need to provide?
The applicant must be able to provide the supporting documents to prove they qualify for one of the options above.
Option 1 requires the applicant to show a bank statement for the past six months as evidence of income.
Option 2 requires a bank letter stating that the account has the sufficient amount.
Option 3 requires a copy of the property title deed.
Option 4 requires both a bank letter showing the amount deposited and a copy of the property title deed.
All applicants must also provide the following documents and information:
• Passport copy of applicant, spouse and children, if applicable
• Marriage certificate copy, if sponsoring the spouse
• Current copy of visa, if the applicant is a resident of UAE
• Copy of Emirates IDs of applicant, if the applicant is a current resident in UAE
• Eligibility evidence copy (as explained above)
• Copy of a valid Health insurance policy covering UAE, including policies for spouse and children if applicable
• Current home address
• Mobile number and email address on which at which applicants can be contacted
Who does the Retire in Dubai visa cover?
The Retire in Dubai visa covers the eligible applicant, their spouse, and their children, meaning the immediate family can retire in the emirate.
How long does the Retire in Dubai visa last?
The Retire in Dubai visa lasts for five years, when it is then subject to renewal.
What's not to love about our city? It's got everything you'd look for in a holiday; breathtaking attractions, memorable experiences and wonderful people! What's your favourite thing about Dubai? Ready when you are... #VisitDubai— Visit Dubai UK (@VisitDubai_UK) September 3, 2020
📷 by /loganstrongarms pic.twitter.com/1uCWQIpaxL
Which health insurance is valid for the Retire in Dubai visa?
Dubai Tourism offers a summary of the valid health insurance packages on its website, accessible here.
The list includes packages by Alliance Insurance, Abu Dhabi National Insurance Company (ADNIC), Cigna Corporation, and Integra Global in partnership with Dubai Insurance.
This guide was compiled using information from the official Retire in Dubai website and emails.