Most people often come to the United Arab Emirates with the intention to stay 1-5 years. But the allure and attraction of the UAE often finds people living here well beyond the 1-5 year time line. In the past, an expat who relocated to the UAE in their 50’s had to think of an exit plan. With the retirement visa in place, UAE can remain your home well beyond retirement.
Retired residents over the age of 55 can get a long-term residence visa for a duration of 5 years. The visa may be renewed if the eligibility criteria is met. Ranked as one of the safest countries in the world, with a variety of investment opportunities, and a good quality of life, UAE is emerging on various lists as a place to consider for retirement.
Visa requirements and eligibility criteria
- You must be at least 55 years old.
- You must fulfil one of the following financial criteria.
A sustainable income of at least AED180 000 a year or AED 15,000 a month.
AED1 million unmortgaged property or mortgaged property for which the payment to date is at least AED1 million.
AED1 million savings in a 3-year fixed deposit.
A combination of 1 and 3, valued for at least AED1 million in a 3-year fixed deposit and property worth AED500, 000 each.
Contact LMG Management Consultants if you would like more information on this visa category and investments in the United Arab Emirates.