For the first time, Dubai announces retirement-visa programme

Dubai's ruler launches new initiative for retirees worldwide; holders of the visa are allowed to work

  
Image used for illustrative purpose. UAE entry stamp on passport.

Image used for illustrative purpose. UAE entry stamp on passport.

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Any resident or retiree outside the UAE and over the age of 55 can now apply for a retirement visa in Dubai.

Sheikh Mohammed Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai on Wednesday launched 'Retirment in Dubai', a programme under which applicants can apply for a retirement visa via http://www.retireindubai.com.

Dubai Tourism and the General Administration of Residency and Foreigners Affairs will drive the initiative.

In order to qualify to apply for the visa, a retiree must have a monthly income of 20,000 UAE dirhams ($5,446), which the person can earn from investments or pension or should have a balance of one million dirhams or a real estate asset in Dubai worth 2 million UAE dirhams.

"As a holder of the retirement visa, you are regarded as a resident of the UAE and therefore are able to leave and enter the UAE at your convenience during the period of 5 years," the Retirement in Dubai website stated.

Holders of this visa are allowed to work as independent workers, advisors, board members, consultants, etc. Once the application is submitted the approval could take 15 working days, the website stated.

“At present, third-party submissions will not be accepted. You may submit your application only for yourself and your spouse/children,” it said.

(Writing by Seban Scaria; editing by Daniel Luiz)

(seban.scaria@refinitiv.com)

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© ZAWYA 2020

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