29.2 C
Dubai
Friday, November 22, 2024
spot_img

Dubai Retirement Visa: Eligibility, Expenses, and Key Information

Retirement Visa In November 2021, the UAE government introduced amendments to the law, granting expatriate residents the opportunity to stay in the country post-retirement. Here’s an in-depth guide on the retirement visa:

Eligibility Criteria:

To qualify for the retirement visa, residents must meet the following criteria:

  1. Worked for a minimum of 15 years inside or outside the UAE or be 55 years old or older at retirement.
  2. Fulfill one of the following options:
    • Minimum yearly income of Dh180,000 or Dh15,000 monthly income.
    • Dh1 million in savings in a 3-year fixed deposit.
    • Dh1 million in property.
    • A combination of Options 1 and 2, totaling at least Dh1 million in a 3-year fixed deposit and Dh500,000 in property.

Application Process: Retirement Visa

  1. Choose Your Option:
    • For savings-based applications, deal with the General Directorate of Residency and Foreigners Affairs (GDRFA).
    • For property-based applications, contact the Dubai Land Department (DLD).
  2. Online Application (GDRFA):
    • Visit https://smart.gdrfad.gov.ae, select ‘Individuals’ login, and register for a new application.
    • Follow the on-screen prompts and submit the online form.
  3. In-Person Application (DLD):
    • Visit the DLD office in person to proceed with the application.

Required Documents (Common for All Options):

  1. Passport copy of the applicant and dependents (spouse and children).
  2. Marriage certificate copy (if sponsoring a spouse).
  3. Copy of the current visa of the applicant and dependents (for UAE residents).
  4. Copy of Emirates IDs of the applicant and dependents (for UAE residents).

Additional Documents (Dependent on Chosen Option):

For Proof of Income:

  • Document indicating the beneficiary’s name and date of commencement.
  • Letter from the relevant entity providing the source of income or a letter from the previous employer.
  • 6-month bank statement from a Dubai-based bank showing a minimum deposit of Dh15,000 monthly or Dh180,000 yearly, stamped by the bank.

For Proof of Retirement:

  • End-of-service letter from the last employer or a letter from a social service entity confirming retirement.

For Proof of Savings:

  • Stamped bank letter in Arabic from a UAE-based bank indicating Dh1 million in savings in a 3-year fixed deposit, addressed to GDRFA.

For Property Option:

  • Copy of the title deed showing property in Dubai valued at Dh1 million.
  • 100% ownership of the company if the property is owned by a company.

For Savings and Property Combination:

  • Additional documents for both options.

Visa Fees:

If the application is approved, each applicant must pay Dh3,714.75 covering visa-related expenses, including entry permit, visa status adjustment, residency stamping, Emirates ID, medical examination, and management fees.

This comprehensive guide ensures a smooth understanding of the retirement visa application process, empowering expatriates seeking to make the UAE their post-retirement home.

Also Read

Abu Dhabi’s Artificial Wave Holds Its Own Among the World’s Best, According to Renowned Surfer

“Immerse Yourself in an Unforgettable Race Weekend Getaway at W Abu Dhabi – Yas Island”

Related Articles

UAE Operation ‘Chivalrous Knight 3’: Over 121 Aid Shipments Delivered to Gaza Amid Humanitarian Efforts

UAE has reinforced its dedication to humanitarian relief through the ongoing effort known as Operation ‘Chivalrous Knight 3.’   This initiative has seen the UAE dispatch...

Gusteau Foods Transforming the Food Industry with Passion and Innovation

In a world where the demand for convenience and quality often seem at odds, Gusteau Foods Pvt Ltd, led by the visionary entrepreneur Karthick...

With an eye towards its IPO on Nasdaq and Euronext, AAD Invest Group finalizes a EUR 75 million funding agreement with Global Emerging Markets...

AAD Invest Group finalizes a EUR 75 million funding agreement with Global Emerging Markets (GEM) About AAD Invest Group – Nov 2024 Founded in January 2024...

UAE Strengthens Global Ties: President Welcomes Qatari Prime Minister, While Crown Prince Leads at G20 in Brazil

UAE is making significant strides in strengthening its international relations, with recent diplomatic activities highlighting the country's growing influence on the global stage. In a...

Abu Dhabi Crown Prince Leads Strategic Talks at G20: Strengthening UAE-Brazil Relations for a Prosperous Future

Abu Dhabi’s Crown Prince, H.H. Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, is currently in Brazil to participate in the G20 Summit, a...

Latest Articles