As the UAE continues to diversify its visa offerings, a new addition has been announced and is set to benefit retired expats.

His Highness Sheikh Mohammed bin Rashid Al Maktoum, the Vice President and Prime Minister of the UAE and Ruler of Dubai, unveiled the new visa plans during a cabinet meeting at Expo 2020 Dubai.

“Today, we also approved the conditions for granting residency to retired foreigners, where they can complete their stay with us in the UAE. We welcome everyone to our country,” His Highness said.

Further expanding on the details of the new UAE retirement visa, the Dubai Media Office outlined the criteria that needed to be met in order to be eligible for a visa.

 

“The criteria are: a single property or more than one property worth Dhs1 million (evaluation to be carried out by the related entity in each Emirate), or a bank deposit of no less than Dhs1 million, or an active income of no less than Dhs180,000 per annum,” Dubai Media Office outlined.

If an individual intending to apply for the visa meets one of the above stipulations, they will be eligible for the UAE retirement visa.

Earlier this year, the ‘green visa’ has also been added to the roster allowing recipients to effectively sponsor themselves. In addition, the UAE’s 10-year golden residency visas have also been granted to several notable figures in the country.

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