HOW TO APPLY FOR A DUBAI RETIREMENT VISA: GUIDE

Name: Creation Business Consultants
Address: Office 2102, Cheddar Cheese Tower, O-14 Tower, Marasi Dr, Business Bay, Dubai, Dubai, 00000, United Arab Emirates
Telephone: +971 4 878 6240
Price range: $$$$

Living in the UAE has many benefits that very few have the privilege of experiencing. From year-round sunshine to extreme safety, family-friendly parks, and entertainment areas and of course, the most luxurious shopping malls and five-star hotels a person can dream of. The main reason, however, that so many decide to immigrate to the UAE every year is for access to a tax-free salary and therefore, a better lifestyle.

One of life’s most significant milestones is retirement. From September 2020, the Government of Dubai announced the new Dubai Retirement Visa, which will now allow those who wish to enjoy their retirement in the UAE, to stay for as long as they want. This is brilliant news and another reason that the UAE is fast becoming the best place in the world to work and live.

To access this exclusive visa, there are a few requirements for those eligible to apply, varying from a minimum bank account deposit, property portfolio and/or monthly cash flow.

A question that may be on the mind of any father, mother, wife, or husband will be whether you can sponsor your family on the new Dubai Retirement Visa, and the answer is: Yes, you can!

As always, our team at Creation Business Consultants are eager to help you make your retirement dream come true! We have gone ahead and answered the most-asked questions so that you too can call the UAE your new retirement home. Here are the costs, minimum requirements and how to apply.

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WHAT DOES IT COST?

The visa itself is AED 889, but before this can be processed, you will need a medical exam which is AED 753. Just like any standard UAE visa, you will also receive an Emirates ID, this will cost you an additional AED 573, and is essential for enjoying a hassle-free life in the UAE.

AM I ELIGIBLE?

Firstly, you must be at least 55 years old. Given that 5.70% of the UAE are 55 and above, there will be plenty of applications happening in the next year or so.

Once the age requirement is ticked off the list, one of the following financial criteria must also be met by the applicant:

• To own a mortgage-free property in the UAE that is worth a minimum of AED 2 million.
• To have a bank deposit in a UAE-based bank of no less than AED 1 million.
• To provide proof of a monthly income of a minimum of AED 20,000 or of the equivalent in another currency.
• To combine points 1 and 2 so that the value of the local bank deposit and market price of the property is at least AED 2 million.

HOW DO I APPLY?

You must have the right documentation for the above, be it a property title deed, a letter from your personal bank and/or a certified bank statement.

once you have all the above in order, this is what you need to apply:

Passport copy of the applicant, spouse and /or children Certified marriage certificate copy (only if you are sponsoring your spouse).
Latest copy of visa (If the applicant is an existing resident of the UAE).
Copy of all the Emirates IDs of the applicants (if applicants are current residents in the UAE).
Eligibility evidence copy (as explained above).
Current details of residential address (Building number, street number, area, city, country).
Email address and phone number on which you wish to be contacted on.

HOW LONG IS THE VISA VALID?

The retirement visa is valid for 5 years. The great news is that you can renew the visa for as long as you want! The only requirement is that you continue to meet the financial requirements set out earlier. If all approved, you will be able to renew your visa every five years: for yourself, your spouse, and your children.

Creation Business Consultant team have combined experience of more than 20 years in the industry, and with a team of highly skilled and experienced executives, it would be our pleasure to support you with your UAE retirement dream so that you too, can continue living life at the highest level. Feel free to contact us for a complimentary, non-obligatory call on +971 4 878 6240 or email [email protected] to find out more about our services.