DUBAI – Beautiful beaches and record-breaking attractions along with quality healthcare system make the United Arab Emirates (UAE) a perfect living place for those people retiring from their jobs.
Dubai offers a five-year visa to the retired foreign nationals if they are eligible and meet the requirements for it.
- You must be at least 55 years old
- You must fulfill one of the following financial criteria:
Option 1:
A sustainable income of at least AED180,000 (approx. US$49,000) a year or AED15,000 (approx. US$4,100) a month
Option 2:
AED1 million (approx. US$275,000) savings in a 3-year fixed deposit
Option 3:
AED1 million (approx. US$275,000) unmortgaged property or mortgaged property, for which the payment to date is at least AED1 million
Option 4:
A combination of Options 1 and 2, valued for at least AED1 million (approx. US$275,000) in a 3-year fixed deposit and property worth AED500,000 each
If you are a local applicant, please ensure that all letters are translated into Arabic. If you are an international applicant, please ensure that your bank letters are attested.
Documents required for all options
Passport copy of applicant and dependents – spouse and children
Marriage certificate copy – if you are sponsoring your spouse
Copy of current visa – if you are a UAE resident for you and all dependents
Copy of Emirates IDs of applicant and dependents – if you are a UAE resident
Proof of income:
You must supply documents which confirm that your chosen financial route. Please ensure it includes the name of the beneficiary and date of commencement. This can be:
- A letter from the relevant entity which provides the source of income e.g. pension scheme
or
- A letter from your previous employer if they are continuing to provide monthly retirement income
or
- Supporting documents to display you have a sustainable income
6-month bank statement:
At this stage, GDRFA is considering income from pension schemes, social services or other means of sustainable income.
– Minimum deposit of AED15,000 monthly or AED180,000 yearly from your source of income eg. pension scheme / retirement fund
– Dubai-based bank
– Monthly statement for the last 6 months, stamped by your bank
Proof of retirement letter:
To prove that you are a qualified retiree who has worked in the past. It can be in the form of:
- An end of service letter
– End of service letter from your last employer
– It should specify the number of years of service
– It must validate that you are a retiree
or
- A letter from your social services or an equivalent entity
– Must detail that you are retired
Proof of savings letter:
Stamped bank letter from a UAE-based bank (in Arabic)
– The AED 1m must be placed in a 3-year fixed deposit in a bank located in UAE
– The bank must issue a letter addressed to GDRFA, stating that the funds are secured as above
Your application process is determined by which Retire in Dubai pathway you qualify for, and subsequently which authorising entity will approve your visa:
Savings applications – General Directorate of Residency and Foreigners Affairs (GDRFA)
Property applications – Dubai Land Department (DLD
If your application is approved by the GDRFA or DLD, a total of AED3,714.75 (approx. US$1,011) per applicant must be paid. The amount covers all the visa-related expenses, including entry permit, visa status adjustment, residency stamping, Emirates ID, medical examination and management fees.
