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Sunday, May 19, 2024

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.

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