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Emaduddin Khalil, our reporter
The UAE Digital Government (UAE DGov) is calling on retired expatriates to apply for a 5-year residence visa in the UAE based on the criteria required to obtain such a visa.
The UAE DGov highlighted that residents over the age of 55 can apply for a 5-year residence visa to live in the UAE, noting that such visas are renewable upon fulfilling the same requirements.
To be eligible for this type of visa, a retired expatriate must meet any of the following requirements: he must have served not less than 15 years in or outside the UAE before retirement, he must be not less than 55 years old, he must have For real estate below AED 1 million, he must have financial savings of AED 1 million or must earn a monthly income of AED 20,000 (AED 15,000 in Dubai) and must submit bank statements for the past six months Bill, UAE DGov said.
It added that retiring expats need to log on to https://www.visitdubai.com/ar/retire-in-dubai/plan-your-retirement to find out about Dubai’s plans and how to apply for a visa.
Foreigners, their wives and children are eligible for five-year residency visas, which can be renewed as long as retirees meet eligibility requirements, it said.
Financial options include 1) annual income equal to or greater than AED 180,000 (US$ 49,000) or AED 15,000 (US$ 4,100) per month, 2) three-year fixed deposit savings of AED 1 million (US$ 275,000), 3) investment Non-mortgage real estate of AED 1 million and 4) a combination of options 1 and 3 to invest in a three-year fixed deposit of not less than AED 1 million.