What Is The UAE Residence Visa For Retired Expats?
Sheikh Mohammed bin Rashid Al Maktoum, Prime Minister and Vice President of the United Arab Emirates announced a brand new UAE residence visa scheme for retired expats in the country. Retired expats can now continue to reside in the UAE even after retirement.
The Cabinet gave the green signal for this visa policy during a meeting on November 9, 2021. The session was chaired by Sheikh Mohammed bin Rashid Al Maktoum and attended by Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Lt. General Sheikh Saif bin Zayed Al Nahyan, and the cabinet members.
To be eligible for the visa, you are required to meet one of the following criteria:
- Own one or more properties valued at AED 1 million – the relevant entity in each Emirate will carry out the valuation.
- Have a bank deposit of at least AED 1 million
- Have an active income of at least AED 180,000 per annum
Benefits Of Retiring In The UAE
Numerous expats choose to live and work in the UAE. With the UAE residence visa for retired expats, you can continue to stay in the country well past your retirement. Here are some of the prime benefits of living in the country following your retirement:
Blend Of City And Seaside
The UAE is located on the south-eastern side of the Persian Gulf. The urban areas of Dubai are positioned right between the mountains and the sea.
The stunning beaches of Dubai, along with the ultra-modern architecture, makes the city a breathtaking venue for luxurious living. In your free time, you can hike a mountain, relax on a beach, or make your way to the city center for lunch.
Dubai has grown rapidly in the past 20 years. There are few other cities in the world that can be compared with its success.
Although UAE consists of a large desert landscape and a lack of natural resources, excellent planning, and state-of-the-art technology have enabled the country to turn into the buzzing metropolis that it is today.
As an expat, you are likely to crave your home country’s food from time to time. However, you don’t need to worry about this aspect if you are living in the UAE.
Here, you will find eateries dedicated to almost every country in the world. Not only can you enjoy the flavors of your hometown, but also try food from all over the world.
The cabinet introduced the UAE residence visa to draw in individuals with a high net worth. It is an attempt to allow more flexibility in visa requirements and residency laws. The UAE government is eager to open its borders to welcome more people via favorable visa schemes. Recently, it also approved the entrepreneur and green visas for expats.