It is not surprising that expat pensioners are eager to permanently make the city their home, thanks to Dubai’s safe facility, outstanding infrastructure, and a decent quality of life! You might not want to leave Dubai once you move to Bulgari Residences Dubai.
Expat residents have several choices for living in Dubai post-retirement after the emergence of the new retirement visa scheme.
We give a view on the various ways in which expats in Dubai can take into account retiring and the eligibility criteria.
Things to do if you want to retire in Dubai
We have made a list of all the approaches that you can follow in order to live a good life in the UAE.
Opt for the Retire in Dubai Programme
The government of Dubai has recently launched Retire in Dubai Programme, this can help you in living a beautiful and safe life in Dubai. It is a cooperation of Dubai Tourism and the General Director of Residency and Foreign Affairs (GDRFA). This retirement scheme enables the applicant expats to spend five years in Dubai.
The expats belonging to the age bracket of 55 or above can apply for the Retire in Dubai programme, along with the spouses and dependents. They need to fulfil the following criteria:
- Monthly profits of AED 20,000 from pensions or retired employees
- AED 1,000,000 savings on a 3-year fixed deposit in the UAE
- A land investment worth AED 2M
- A mixture of savings and spending on land worth AED 2M.
You can take help from Dubai Tourism’s official website in order to apply for retirement.
If your application satisfies the requirements, either the GDRFA or the Dubai Land Department will process it (DLD). Retirees must be provided with medical care from a provincial or foreign province.
Opt for the UAE Golden Visa
If you want to retire in Dubai, you can also opt for the UAE Golden Visa. There are multiple categories for which expat retirees could be considered if they follow the requirements required.
These include a ten-year general investor visa issued to anyone with investment within the UAE of at least AED 10 million. These investments could include deposits in an investment fund, the formation of a business, or the development of a relationship with an established or new company.
You may also apply for a five-year real estate investor visa if you want to live in Dubai. This is given to expats within the UAE with property deposits worth AED 5M. Therefore, the property cannot be mortgaged or loaned and must be held for a term of at least three years to qualify for this visa.
Begin or invest in a business
Another smart approach is to either begin your own business in Dubai or invest in the existing business. This will get you a three-year visa to stay in Dubai. It is granted to the people who are engaged in an operating business in Dubai that is or worth at least AED 72,000. This form of visa allows stability for expat pensioners to resume working after retirement.
If you have received the company license, then you can apply for the Dubai investor visa through Amer centres.
Invest in property in Dubai
The three-year property investor visa provided to residents with property deposits worth AED 1 million and above is another choice for expat pensions in Dubai. Expat retirees can reap the rewards such as opening a bank account, getting a driving licence and receiving an Emirates ID card with this form of visa. It needs to be noted that the people who obtain such a visa cannot sponsor their families.
Ask your children to sponsor you
If you are living in the Emirate, you can also ask your children to sponsor you, this will increase your residency duration. You must make sure that the child sponsoring you must have at least AED 20,000 or AED 19,000 and a two-bedroom house as per the GDRFA policies. The sponsor should also provide evidence that they are their parents’ sole suppliers. Another situation is that it is necessary to sponsor both parents together, except in death and divorce cases.
Once you get to stay, you might want to get your own home, so begin searching for villas for sale in Dubai today!