Steps on how to apply for a UAE Retirement Visa
The UAE Retirement Visa is what you need if you live a luxurious life and want to retire large. In this guide, we will show you steps on how to apply for a UAE Retirement Visa.
Over 55-year-old retirees are eligible for a 5-year long-term residency visa. If the qualifying requirements are satisfactory, the visa may be renewed.
The UAE government unveiled a new visa in 2018 that caters to retirees, whether they are residents of the UAE or are already there and have reached retirement age.
What exactly is a UAE retirement visa?
The UAE retirement visa effectively grants retirees from abroad permanent status for five years that is renewable.
According to the UAE, an ex-pat retiree is older than 55 and has a retirement letter from their prior work or firm.
The UAE government’s dedication to allowing everyone to dwell inside its boundaries is visible on the retirement visa.
Eligibility Condition for a UAE Retirement Visa
All retirees who satisfy the conditions, including their spouse and dependents, are eligible for the retirement visa in UAE. One of the prerequisites is that the candidate is at least 55 years old and meets specific financial standards.
Financial Obligations for a UAE Retirement Visa
An applicant stands qualified if they can satisfy ANY ONE of the financial requirements listed below:
- Choice 1. a minimum annual income of AED 180,000 (about $49,000) or a minimum monthly income of AED 15,000 (roughly $4,100).
- Choice 2 Savings of AED 1 million ($275,000) in a 3-year fixed deposit
- Choice 3. Property mortgaged or unmortgaged is worth at least AED 1 million (about US$275,000).
- Choice 4. a minimum of AED 1 million (about US$275,000) in a 3-year fixed deposit, together with two pieces of real estate, each worth AED 500,000.
How to apply for a UAE Retirement Visa
The retirement visa application procedure may vary depending on the course you decide to take regarding your options. There are two possibilities:
- The Residency and Foreigners General Directorate (GDRFA) shall have final decision-making power concerning Options 1 and 2, which are the income and savings applications.
- The Dubai Land Department (DLD) will be the appropriate authority for Options 3 and 4, which deal with property application requests.
For the GDRFA
- Go to the GDRFA website.
- Decide to log in as an “Individual.”
- Start a new application by logging in to your dashboard after registering.
- To finish and submit the online form, follow the instructions.
For DLD:
Go to the real estate regulatory agency’s office in person to continue your property application.
Required Documents
All retirees must acquire medical insurance to complete the application procedure when approved. The following are the standard criteria for the documents:
- For UAE citizens and their dependents, a copy of their most recent visa.
- A passport copy is necessary for the applicant and dependents, such as their spouse or children.
- If the candidate is sponsoring their spouse, a marriage certificate
- Emirates ID copy: Applicants who reside in the UAE must provide copies of their Emirates IDs (together with any dependents’ IDs).
For each option, additional documents are a necessary addition to these:
#Option 1: for the UAE Retirement Visa Application
Letter Demonstrating IncomeÂ
You must present proof of your selected financial path through the paperwork. The beneficiary’s name and the start date should appear on the document. Your options are to:
- a letter from the organization responsible for providing the source of income (such as a pension plan); or
- A letter from your former company, if they are paying your monthly retirement money; or
- A supporting document that attests to your stable income.
Bank Account Statement
The pension scheme/social service has made a minimum monthly deposit of AED 15,000 or 180,000 annually in your account for the last six months (stamped by the bank). You may still submit your paperwork for review if you cannot meet these specific criteria.
#Option 2: for the UAE Retirement Visa Application
Letter Proving Retirement
You must provide evidence of the following to demonstrate that you are a qualified retired person who has worked in the past:
- A letter of termination from your previous company that confirms your status as a retiree and includes information such as your years of service;
- A letter confirming your retirement from social services or a comparable organization.
Letter To Prove Savings
A 3-year fixed deposit in a UAE-based bank for AED 1 million must be established for candidates who apply through the savings method (AED 1 million). In addition, the bank must provide applicants with a stamped letter in that respect, written to GDRFA in Arabic (both Arabic and English).
#Option 3
Please be aware that if an applicant chooses to apply through a property, the property must:
- Have a title deed value of at least AED 1 million.
- The applicant (and spouse) must have a minimum share value of AED 1 million if there are many owners.
- Be in the applicant’s name alone (not the applicant’s spouse’s); if owned by a business, the applicant must hold all of the corporation’s shares.
- if not mortgaged, be fully repaid
- Your current payment total must be at least AED 1 million if you have a mortgage.
- being on schedule
- Located in Dubai.
As long as they satisfy the abovementioned requirements, several properties with a cumulative value of AED 1 million comes in handy. Send a copy of the title deed, please (s).
#Option 4
Title Deed Copy
Your property should meet the following requirements:
- The DLD must give access to the property and be in Dubai.
- According to the title document, the property worth, not the mortgage value, must be at least 500,000 AED.
- The applicant must own the property outright.
- If there are joint owners, an investment of at least AED 500,000 by the applicant and their wives is important.
- Off-plan housing shouldn’t be offered.
Letter To Prove Savings
The AED 1 million must be secured as a 3-year fixed deposit in a bank with operations in the UAE for applicants who want to apply through the savings method (AED 1 million). The bank must provide applicants with a stamped letter in that respect, addressed in Arabic to GDRFA (both Arabic and English on the same letter are acceptable).
Cost of the Retirement Visa
The first non-refundable application fee for a retirement visa is USD 25 for each applicant and dependant. Then, if the GDRFA or DLD approves the application, a total of AED 3,714.75 (about $1,011) per applicant and dependant must be paid.
The total price includes the Emirates ID, medical exam, management fees, admission permission, visa status modification, and residence stamping.
Please note that the required cost of health insurance is not included in this.
Duration of Application
It might take up to 15 working days for your application to be processed after you’ve been informed that it’s finished.
Advantages of RetirementÂ
Holders of the retirement visa may benefit from the following: living in Dubai and using resident rights.
– Sponsor their partner and kids
There is no restriction on the number of children retirees may sponsor, including their spouse and children. However, remember that your children must be under the age of 18 for boys and under the age of 21 for ladies to qualify for sponsorship. They are not eligible for sponsorship if they are older than the cutoff ages and must apply for their visa. Sponsored kids will be able to go to school in Dubai.
– Several Entrances Into The Uae
The UAE fully considers retiree visa holders to be residents. Therefore, so long as the retirement visa is in effect, they have the right to come and go as they choose from the UAE. Furthermore, unlike a typical residency visa, retirees won’t need to stay a certain number of days in the UAE each year.
Frequently Asked Questions
How much is a Dubai retirement visa?
How much does a retirement visa cost? The first non-refundable application fee for a retirement visa is USD 25 for each applicant and dependant. Then, if the GDRFA or DLD approves the application, a total of AED 3,714.75 (about $1,011) per applicant and dependant must be paid.
How do visas for retirement operate?
A retirement visa is a residency permit that enables you to live abroad throughout your retirement years. You must be of retirement age and possess the financial means to sustain yourself to qualify for this visa.
What is needed for retirement in Dubai?
You must be 55 years old and fulfill the requirements below to be eligible for a Dubai Retirement Visa: You buy real estate in Dubai for at least AED 2 million. In addition, you have financial reserves totaling at least 1 million dirhams.
What is the oldest age you can work in the UAE?
If a foreign national above the age of 18 meets the conditions provided by the Ministry of Human Resources and Emiratization, they may work in the UAE (MoHRE). There is no upper age limit for employment in the UAE. Employers must, however, pay more for employees over the age of 65.
Can you work in the UAE beyond 60?
Even though the retirement age for Dubai and the UAE ex-pats is 60 years old, they can work until age 65 as long as their employers can obtain the required permission. Employees over 60 must, however, apply for work permits through MoHRE.
Can you work with a retirement visa?
Of course, you can continue working while you are a country resident on a retirement visa. There is no upper age restriction for employment in the nation. To allow your employer to do this, you only need to give them a self-issued NOC letter.
Conclusion
This step-by-step guide should have opened your eye to the possibilities of a UAE Retirement Visa. Another interesting read would be Steps on how to apply for a UAE Medical Treatment Visa.
