The 5-year retirement visa offered by UAE has been a unique idea put into practice. It opens up a path for retired people around the world to enjoy the charms of Dubai. It’s different from a Dubai visitor visa as it has more duration and different features. The good news is that getting a Dubai retirement visa is easier now!
If you are a retiree interested in getting this visa, Visit Dubai, Dubai’s official tourism board, has allowed you to start with the application process for the visa without having purchased a medical insurance plan.
An international medical insurance plan applicable in Dubai has been one of the requirements for getting a retirement visa. Now, a medical test will be conducted during the application process. At this point, you will get a choice to complete the purchase of a medical insurance plan that fits you. But the application must have been approved first.
The Retirement visa in Dubai was introduced on September 2, 2020, by the ruler of Dubai, His Highness Mohammed Bin Rashid Al Maktoum. He is also the Prime Minister and Vice President of the UAE.
The cost breakup for the cost of a retirement visa is as follows:
Cost of Retirement visa: Dh 888.75
Medical Examination charges: Dh 753.00
Emirates ID charges: Dh 572.50
The total cost incurred: Dh 2,214.25
Apart from this new facility, all the eligibility criteria stipulated for the Dubai retirement visa are the same. These are:
- Your age must be at least 55 years
- You must have medical insurance that covers the UAE
- Your financial capacity should be:
- You must own a property in the UAE that’s worth at least Dh 2 million and not under a mortgage, or
- You must have a bank deposit in the UAE that amounts to a minimum of Dh 1 million, or
- You must have proof to establish that you have a monthly income of minimum Dh 20,000 or an equivalent in another currency, or
- You have a combined wealth from properties and bank deposits valued at no less than Dh 2 million.
With the Retirement visa made more easily accessible, you now have a chance to enjoy your retirement years in one of the world’s most desired destinations, Dubai. This would be a better deal than a Dubai tourist visa if you can afford it.
If you are looking to Study, Work, Visit, Invest or Migrate to Dubai, talk to Y-Axis, the World’s No.1 Immigration & Visa Company.
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