You can apply for a five-year Dubai Retirement Visa regardless of whether you are a long-term resident of Dubai hoping to settle in the UAE after retirement or a visitor seeking to make Dubai your new home for your golden years.
The UAE created this visa programme in November 2021 to allow expatriates to retire and live in the nation. The General Directorate of Residency and Foreigners Affairs (GDRFA), the Emirate’s immigration department, is responsible for issuing this visa in Dubai.
The appropriate supporting documentation must be submitted with your retirement visa application in order for it to be accepted. The information you need to know about the necessary paperwork, health insurance requirements, and regulations for sponsoring your family on a visa is provided here.
Who is eligible to apply for the Dubai Retirement Visa?
You must be at least 55 years old and fulfill one of the following financial requirements in order to apply for the visa:
- Earn a sustainable income of at least Dh180,000 a year or Dh15,000 a month.
- Possess a Dh1 million three-year fixed deposit.
- Possess real estate worth Dh1 million that is not mortgaged. If the property is financed, the total payment made thus far must be at least Dh1 million.
- A mixture of the first two choices, with a minimum value of Dh1 million in property and Dh500,000 in three-year fixed deposits.
What are the documents one needs?
One of the most crucial steps in the retirement visa application is having the appropriate papers to establish your financial holdings. The records that each applicant must submit are as follows:
- Passport copy of applicant and dependents – spouse and children.
- Marriage certificate copy, if you are sponsoring your spouse.
- Copy of current visa, if you are a UAE resident for you and all dependents.
- Copy of Emirates IDs of applicant and dependents, if you are a UAE resident.
- End of service letter: A letter from the last employer, which will verify that you are a retiree. The letter must also state the number of years of service.
Depending on the eligibility requirements you are applying under, you may additionally need to submit extra supporting documents:
Applying for the retirement visa through income
- Proof of income:
- A letter from the relevant entity which provides the source of income OR
- A letter from your previous employer if they are continuing to provide monthly retirement income OR
- Supporting documents to display you have a sustainable income
- Six-month bank statement:
A bank statement showing that you have a minimum deposit of Dh15,000 per month or Dh180,000 per year from your source of income is required.
This must be from a bank with a branch in Dubai, and the bank must have stamped the monthly statement.
Retirement visa through savings
Proof of retirement:
- A letter of termination from your previous employer attesting to your retirement and listing your years of service.
Proof of savings letter:
- Stamped bank letter from a UAE-based bank (in Arabic).
- The savings amount of Dh1 million must be placed in a three-year fixed deposit in a bank located in UAE.
- The bank must issue a letter addressed to GDRFA, stating that the funds are secured as required.
Retirement visa through Property
- A copy of the title deed: The property must be in Dubai and not another Emirate or country.
- A title deed value of at least Dh1 million.
- The applicant must own the property, not the applicant’s spouse. If owned by a corporation, the applicant must own the corporation completely.
- If there are joint owners, the applicant’s (and spouse’s) share of the property must be worth at least AED 1 million.
- It must be fully paid.
- It cannot be off-plan.
Multiple properties: Multiple properties with a combined value of Dh1m may be used, as long as they meet the above criteria.
Retirement visa through savings and property
- Title deed copy: issued by the Dubai Land Department, located in Dubai.
– A title deed value of at least Dh500,000.
– Must be in the applicant’s name alone, not that of their spouse. If owned by a corporation, the applicant must own the corporation completely.
– If there are joint owners, the applicant’s part of the property ownership (together with their spouse’s share combined) must be at least Dh500,00.
– It cannot be off-plan.
A total of Dh500,000 worth of properties may be used.
- Letter proving savings:
– A bank letter with a stamp from a bank in the United Arab Emirates detailing the account’s balance.
– The savings must be deposited in a UAE bank as a three-year fixed deposit.
– The bank must send GDRFA a letter confirming that the funds are properly secured.
It’s vital to keep in mind that if the GDRFA requests it, you may need to get your documents translated into Arabic or attested throughout the retirement visa application process.
Despite the fact that you don’t need health insurance to qualify for a retirement visa after your application is accepted you will need to do a medical fitness test, according to visitdubai.com. You will be forced to buy a medical insurance plan after the medical examination.
Additionally, according to the Visit Dubai website, applicants must enroll for and renew health insurance coverage for a minimum of one year. You must get a health insurance plan for your spouse and children if you are supporting your family as well. Whether it is a local business or an international organization, as long as they have a branch or office in the UAE, the health insurance plan must be from an insurance provider based in the UAE.
Sponsoring family members in the UAE
There is no restriction on the number of children who can be sponsored by retirees who want to bring their families to the UAE. The Dubai retirement visa holder may also apply for a one-year renewable visa on behalf of their parents. All family members who are sponsored by the retiree must also be covered by a valid health insurance policy.