The United Arab Emirates (UAE) has announced new regulations allowing expatriate retirees aged 55 and above to apply for a 5-year residency visa.
The move is part of the government’s effort to provide greater flexibility for retirees who wish to live in the country after their working years.
According to Gulf News, the Federal Authority for Identity, Citizenship, Customs, and Port Security (ICP) introduced the new residency and ID card regulations for retirees.
The new visa will allow retirees to stay in the UAE for five years and can be renewed if the applicant continues to meet the specified requirements.
Eligibility requirements for the new residency visa
To qualify for the 5-year residency visa, expatriates must meet several criteria. Firstly, applicants must have worked for at least 15 years, either inside or outside the UAE. Additionally, applicants must fulfil one of the following financial conditions:
- Own property worth at least Dh1 million, or
- Have savings of at least Dh1 million, or
- Receive a monthly income of at least Dh20,000 (or Dh15,000 if residing in Dubai).
Furthermore, applicants must provide a bank statement from the last six months to verify their financial status. The residency visa will be valid for five years and is renewable if the individual continues to meet the necessary conditions.
The application process for retired residents
According to reports, the ICP has outlined a clear process for applying for a residency visa and UAE ID card for retirees.
- The application can be completed through the official ICP website or the UAEICP smart application.
- Applicants will need to log in using their UAE Pass, select the appropriate residency and ID services, and then review and update their data.
- After this, the required fees must be paid, and the residency card will be delivered through approved companies.
Special regulations for retirees in Dubai
In addition to the federal regulations, Dubai has introduced its own set of regulations designed specifically to attract retirees.
The Dubai program allows foreign nationals, their spouses, and dependents to apply for a renewable 5-year residency visa, provided certain financial conditions are met. The applicant must be at least 55 years old and meet one of the following financial criteria:
- An annual income of at least Dh180,000 or a monthly income of Dh15,000,
- Financial savings of Dh1 million in a fixed deposit for three years,
- Investment in unmortgaged property worth at least Dh1 million,
- A combination of the second and third options, totalling Dh1 million, with at least Dh500,000 allocated to a fixed deposit for three years and the remaining Dh500,000 in the property.
These options aim to offer retirees flexibility in meeting the financial requirements for long-term residency in Dubai.
Providing security for retirees
Reports inform that the introduction of these residency visas is part of the UAE’s ongoing effort to create a more welcoming environment for expatriates.
- The new initiatives offer retirees the opportunity to settle in the country, enjoying their retirement years with greater financial security and flexibility.
- Further details reveal that the UAE has been focusing on attracting long-term residents, including retirees, through various visa programs designed to support both economic growth and community stability.
- These steps are expected to help retirees feel more secure in their post-retirement life, knowing they can continue to live in a country with a high standard of living and comprehensive healthcare services.
- The move also aligns with the UAE’s broader vision to diversify its economy and attract global talent across various sectors.
