Dubai: UAE has introduced new 5-year residency visa for retired expats. The Federal Authority for Identity, Citizenship, Customs, and Port Security (ICP) has announced this.
According to the ICP, expatriate retirees who are 55 years or older can now apply for a 5-year residency visa to live in the UAE. To qualify for this visa, applicants must meet the following criteria:
The applicant must have worked for at least 15 years, either inside or outside the UAE.
The individual must 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 in Dubai).
A bank statement from the last six months is also required.
This residency visa is valid for 5 years and can be renewed if the applicant continues to meet the same requirements.
Also Read: India’s forest and tree cover expands by 1,445 square kilometers
The application process includes the following steps
Log in using the UAE Pass.
Select the UAE ID and residency services.
Review and update the retrieved data, and pay the required fees.
Receive the ID card through approved delivery companies.
Dubai has also introduced a special program to attract retirees. This program allows foreign nationals, their spouses, and dependents to apply for a renewable 5-year residency visa if the retiree meets certain criteria. The retiree must be at least 55 years old and fulfil one of the following financial requirements.
Option 1: An annual income of at least Dh180,000 or a monthly income of Dh15,000.
Option 2: Financial savings of Dh1 million in a fixed deposit for 3 years.
Option 3: Investment in an unmortgaged property worth Dh1 million
Option 4: A combination of Options 2 and 3, totalling at least Dh1 million, with Dh500,000 allocated to a fixed deposit for 3 years and Dh500,000 in property.
Post Your Comments