If you are a long-term resident of the United Arab Emirates (UAE) planning to stay in the country after retirement, or a visitor seeking to establish a new home in the UAE for your golden years
A retirement visa is a type of residency permit that allows you to spend your golden years in a different nation. To be eligible for this kind of visa, you must be of retirement age and have sufficient funds to sustain yourself.
UAE – Residence Visa for Retirement
Introduced in November 2021, this visa scheme allows retired foreigners to settle in the UAE. To be eligible for the five-year residence visa, there are specific criteria that you must meet. Firstly, you must be 55 years old or above, demonstrating that you are at a stage of life where retirement is a natural progression.
Additionally, a minimum of 15 years of work experience is required before retirement, showcasing your dedication and contribution to the workforce.
This article will provide you with all the valuable information you must be required to apply for a five-year residence visa;
Eligibility for the Five-Year Residence Visa
To be eligible for the five-year residence visa, individuals must meet the following criteria:
- Age Requirement: Applicants must be 55 years old or above.
- Work Experience: A minimum of 15 years of prior work experience is required before retirement.
Criteria for Eligibility
Once you meet the age and work experience requirements, you need to fulfil one of the following criteria to be eligible for the five-year residence visa:
1. Property Investment: Possess a property investment worth one million Dirhams (Rs 2,24,91,695). The property must not be mortgaged, providing stability and security in your financial position.
2. Financial Savings: Demonstrate financial savings of one million Dirhams or have a three-year fixed deposit with a value of one million Dirhams. This showcases your ability to support yourself financially during your retirement years.
3. Active Income: Maintain an active income of at least 180,000 Dirhams (Rs 40,47,990) per annum or 15,000 Dirhams (Rs 3,37,332) per month. This requirement ensures that you have a steady source of income to sustain your lifestyle in the UAE.
4. Combination of Income, Savings, and Property: Possess a combination of monthly income, fixed deposit, and property, with a cumulative worth of at least 500,000 Dirhams (Rs 1,12,44,418). This criterion offers flexibility, allowing you to meet the financial requirements through a combination of different assets.
Essential Supporting Documents
To ensure a smooth and successful retirement visa application, it is crucial to submit the correct supporting documentation. The following documents are required:
- Passport Copies: Copies of the applicant’s passport, as well as those of their spouse and children.
- Marriage Certificate Copy: If sponsoring a spouse, a copy of the marriage certificate is necessary.
- Current Visa Copy: For UAE residents, a copy of the current visa is required for the applicant and all dependents.
- Emirates IDs: Copies of the Emirates IDs of the applicant and dependents are necessary for UAE residents.
- End of Service Letter: An end-of-service letter from the applicant’s previous employer.
- Additional Documents:
- Proof of income.
- Six-month bank statement.
- Proof of retirement letter.
- Proof of savings letter.
- Copy of the title deed.
- Savings and Property:
- Copy of the title deed.
- Proof of savings letter.
- Health Insurance:
- While medical insurance is not initially required for the retirement visa application, applicants will need to undergo a medical fitness test upon approval.
Application Steps for the Retire in Dubai Visa
Choose Your Visa Route
Your application process will depend on the Retire in Dubai pathway you qualify for and the corresponding authorizing entity that will approve your visa. There are two options:
- Savings Applications: These are processed by the General Directorate of Residency and Foreigners Affairs (GDRFA).
- Property Applications: These are handled by the Dubai Land Department (DLD).
Submit Your Application
For GDRFA Applications:
- Visit the website: Go to https://smart.gdrfad.gov.ae.
- Login as an Individual: Select the ‘Individuals’ login option.
- Register and Log In: Create an account and log in to your dashboard to begin a new application.
- Complete the Form: Follow the prompts and provide the required information to complete the online form.
- Submit the Application: Once you have filled in all the necessary details, submit the form electronically.
For DLD Applications:
- Visit the Office: Personally visit the office of the real estate regulating agency to proceed with your property application.
If your application is approved by the GDRFA or DLD, there will be a visa cost that needs to be paid. The total amount is AED3,714.75 (approximately US$1,011) per applicant.
This fee covers various visa-related expenses, including the;
- Entry Permit
- Visa Status Adjustment
- Residency Stamping
- Emirates ID Issuance
- Medical Examination, and
- Management Fees.
Applying for a five-year residence visa in the UAE for retirement requires meeting specific eligibility criteria and providing the necessary supporting documentation. By following the guidelines outlined in this article, individuals can navigate the application process with ease. Remember to ensure that all documents are complete and accurate to increase the chances of approval.