Dubai is offering retirement visa and here’s the application criteria

Dubai is one such destination that keeps rolling out interesting plans for travellers. But can it get more interesting than this? You decide after you read the news! The sun-kissed gorgeous city in the UAE has just introduced a retirement visa for people who are looking for retirement escapes. This is the place where one can indulge in life’s finest things and relish the retiree life.

The city has announced its “retirement programme” wherein foreigners and expatriates can live in the City of Gold for five years after their retirement. Let’s find out more:
Eligibility criteria to apply for the visa

1) Only a person above 55 years can apply.
2) The person must hold a valid UAE health insurance.

Financial eligibility:

Any one of the following financial criteria must be fulfilled by the applicant:
1) AED 20,000 (INR 4.1 lakh) monthly income,
2) AED 1 million (INR 2.5 crore) savings,
3) AED 2 million (INR 5 crore) property in Dubai, or
4) A combination of options 2 and 3 valued at least AED 2 million (INR 5 crore)

The prime terms one must know about:

1) In the first phase of the retirement visa programme, only Dubai expats and their spouses can apply. The programme will be made available to foreigners thereafter.

2) The validity of the visa is five years

3) The visa can be renewed automatically online (if you continue to meet the eligibility criteria)
4) Retirees can work as independent workers. They can work as advisors, or board members, to name a few.

5) It is mandatory to apply for health insurance.

6) The application process takes around15 days.

7) One can also sponsor their children to study in Dubai on the visa. (Boys under the age of 18, and girls until the age of 21).