Abu Dhabi: If you are a long-term resident of the United Arab Emirates (UAE) planning to stay in the country after retirement, or a visitor looking to establish a new home in the UAE during your golden years, here is how you can apply for a five-year residence visa.
The visa scheme was launched in the UAE in November 2021allowing retired foreigners to settle in the country.
However, residents must meet eligibility criteria before being granted a residence visa. It is also worth noting that the visa is renewable.
Who is eligible to apply for a five-year residence visa?
- Must be 55 years or older
- Must have worked for at least 15 years before retirement
In order for retirees to be eligible for a five-year residence visa, they must meet one of the following conditions:
- Real estate investment worth AED 1 million (Rs. 2,24,91,695) (property cannot be mortgaged)
- Have a financial savings of AED 1 million or a three-year fixed deposit savings of AED 1 million
- Active income of at least AED 180,000 (Rs 40,47,990) or AED 15,000 (Rs 3,37,332) per annum
- Active income of AED 15,000 per month or AED 180,000 per year
- Possess a combination of monthly income, fixed deposit and property worth at least AED 500,000 (Rs 1,12,44,418)
To ensure your retirement visa application is approved, it is essential that you submit your application and the correct supporting documentation.
Here’s everything you need to know about documentation
- Copy of passport of the applicant and dependents – spouse and children
- Copy of marriage certificate – if sponsoring your spouse
- A copy of your current visa – if you are a UAE resident, you and all dependents
- Copy of Emirates ID of the applicant and dependents – if you are a UAE resident
additional documents required
- letter of retirement
savings and property
You can apply for a retirement visa without health insurance, and once your application is approved, you will need to undergo a medical examination.
This post was last modified on June 8, 2023 at 12:53 pm