In a major policy change, for the first time, the U.A.E. offers long-term residency to expats after retirement
The UAE Cabinet approves a law to provide special residency-visa privileges for expat retirees over the age of 55 years for a period of 5 years, with the possibility of renewal. This major policy announcement, means retired expats can permanently live in UAE after retirement.
Retired expats aged over 55 can avail of the new visa once they fulfill one of three criteria:
- own a real estate investment of AED 2 million, or
- has financial savings of not less than AED 1 million, or
- has proof of income above AED 20,000 per month.
The law, which will be in effect as of 2019.
The #UAE Cabinet approved a law to provide special residency-visa privileges for expats retirees over the age of fifty-five years for a period of five years, with the possibility of renewal, according to specific conditions.
— Dubai Media Office (@DXBMediaOffice) September 16, 2018
Foreigners in UAE make upto 80% of the population, contributing significantly to UAE in retail, real estate and job sector.
Expats in the U.A.E. currently expected to retire at 60 with an option to work until 65 with special approval from the authorities.
