The safest option for you to retire is in Dubai, and there is a visa that can help: The retirement visa for Dubai. The Emirati government introduced a new visa a couple of years ago that is specifically for seniors, whether they are residents of another nation or have already reached retirement age here.
To make your next progress to Dubai as easy as possible, this post describes the full application process and necessary papers. Learn more about it by reading on.
Is it a Good Idea to Apply for a Retiring Visa in Dubai?
Your preferences and choices will have a significant impact on how you respond to this question. Senior citizens from all over the world regard the UAE as the ideal location for retirement.
Because Dubai offers all comfort and peace one could want, the city is a great destination to retire. For instance, there are a number of good reasons for you to relocate to Dubai. Among other advantages, the nation boasts a diverse milieu of cultures, a good healthcare system, and is safe.
Dubai retirement visa requirements
- Visa Route Choice: Your eligibility for retirement in Dubai will determine which regulatory authority will approve your application for a retirement visa in the UAE.
- Real Estate Applications
- Financial Applications
- Monthly Salary
- Fixed-rate loan
- Cost of a UAE Retirement Visa: You should check whether the DLD or GDRFA would permit your admission before applying for a retirement visa in Dubai. Each candidate must pay a fee of approximately US$1,011 (AED3,714.75). All visa-related expenses, including the entry permission, visa status modification, residence stamping, Emirates ID, medical exam, and administrative fees, are covered by the fee. You will be updated on the status of your application via DLD or GDRFA.
Documents Needed for a Retirement Visa
- Qualification Standards & Visa Requirements:
- To be eligible to apply for a retirement visa in Dubai, applicants must be older than 55.
- Each of the supplementary financial conditions must be satisfied:
- Statements, Paperwork, and Documents for All Options: Here is a list of all the papers, declarations, and documents needed to submit a successful application for a retirement visa in the United Arab Emirates.
- Emirates ID copies for the applicant and any dependents, if they are UAE nationals.
- Copy of the applicant’s and their dependents’ most recent visas.
- For spouse sponsorship, a copy of the marriage license is necessary.
- Proof of passports for the applicant and any dependents (spouse and children).
- Additional Statements, Paperwork, and Documentation for All Options
Option 1: Income Income Proof:
Applicants must provide documentation proving their selected financial path. Specify the beneficiary’s identity and the time of initiation. This might be:
a. A certificate from the applicable body providing the income source such as a pension system
b. A document from your prior job confirming that they are still providing month-to-month income in retirement.
c. Documentation confirming your assertion that you have a steady income
· Six-Month Bank Statement:
GDRFA is now reviewing earnings from retirement funds, social services, or other sources of long-term income.
— A monthly minimum contribution of AED20,000 or AED 240,000 per year from your income sources such as a retirement fund or pension scheme.
— A Dubai-based financial institution.
— Your bank’s certified statement of account for the previous six months.
Option 2: Savings Retirement Letter Evidence:
To demonstrate that you are an eligible pensioner who has previously worked. It might take the form of:
a. A letter of service discontinuation
— A letter of service discontinuation from your previous employer
— It must confirm that you are a senior.
— The length of work service should be specified.
b. A note from social services or a comparable organization
— The documents must state that you have retired.
· Statement of proof of savings:
Certified bank certificate from a financial institution in the Emirates (in Arabic).
— AED 1 million must be deposited in a three-year fixed deposit with a UAE-based bank.
— The bank must write a mail to GDRFA certifying that the assets are safeguarded as described above.
Option 3: Property Title deed copy:
The asset must be in Dubai (not any other country or emirate).
— According to the title document, the property must have a minimum valuation of AED 1 million.
— It must be in the possession of the applicant (not the spouse). If the applicant owns a corporation, the firm must be owned by 100%.
— If there are co-owners, the applicant’s and spouse’s portion of landownership should be at least AED 1 million.
— If unmortgaged, the property dues should be paid fully.
— If mortgaged, the property payment must be at least AED 1 million.
— No deviations from the original plan.
Please keep in mind that several assets with a total value of AED 1m might well be considered if they fit the following conditions. DLD is presently not processing assets having DIFC title documents, however, GDRFA will evaluate them. Contact your consultant for further information on the visa procedure for DIFC-registered assets.
Option 4: Savings & Property Title deed copy:
Check that your property meets the following requirements:
— Issued by DLD and based in Dubai (not any other nation or Emirates).
— According to the property title, the building must have a baseline value of AED 500,000.
— Should be in the claimant’s possession (not the individual’s spouse). If the applicant owns a corporation, the firm must be 100% owned by the retiree.
— If there are co-owners, the spouse’s and applicant’s property ownership portion should be at least AED 500,000.
— No deviations from the original plan.
As long as the foregoing conditions are met, multiple assets having a cumulative value of AED 500,000 may be considered.
Proof of Savings Letter:
Certified bank certificate (in Arabic) from a UAE-based financial institution showing the credit balance – for instance, if the asset is worth AED 500,000, you must show at least AED 500,000 in savings to have a total of AED 1m.
— The money must be deposited in a three-year fixed deposit with a UAE-based bank.
— The financial institution must send a statement to GDRFA certifying that the assets are safeguarded as described above.
- Advice on Health Insurance: Before going to the Emirates, applicants for retirement visas in Dubai should make preparations. Along with other crucial factors, you must take into account how health matters may control and/or influence your stay; as a result, it is critical to be well-prepared with the necessary paperwork to avoid any problem.
- A medical examination will be required of you following the approval of your visa.
- You will then be required to find a health insurance plan that suits your needs.
- Please be aware that you are not obligated to seek coverage from local providers; nonetheless, we strongly recommend doing so to make the most of your entire visit and to simplify any reimbursement procedures.
- You can start registering without first obtaining health insurance.
- As long as you produce documentation from the company confirming that it covers the Emirates (post visa issue), you may use the coverage provided by your foreign corporation.
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