Planning to Retire in Dubai - Here’s All you must Know

Little more than a decade or two ago, it would have been unusual to hear about foreign nationals moving to the Gulf States in the Middle East. But over the last few years, the foreign population in the region has soared. Reason? Modern reforms in the UAE make it ideal for anyone to invest and retire in the country potentially.

 

However, this also includes knowing all the options that are made available to you for you to attain a citizen's status while thinking of spending your retirement years in the Emirates. So, if you are interested in relocating to Dubai, you may have already started thinking about the financial possibilities. 

With recent positive changes to retirement visas, there are more reasons than ever to make a move and invest your money in your retirement.

Retire in Dubai 

Retire in Dubai is a programme that allows senior citizens to peacefully retire in this exciting destination. This programme allows applicants on or above the age of 55 to obtain a retirement visa. With this visa in hand, you will be treated as a UAE resident who can freely travel around and enter the country conveniently. Apart from this there are many other benefits also. 

 

Retire in Dubai with Tax Residency

It is not as expensive to live in Dubai as perceived by many. The Emirate provides visas to foreign nationals who invest a minimum of $272,000 in the property. The Emirates does not grant permanent residency to expatriates but only multi-entry residency visas. Under tax residency, reform here are a few things you must know -

• For real estate investments lesser than Dh1 million, you are granted a 6-month multi-entry residency visa. It is much like having a tourist visa, but with the capacity to make multiple entries over six months.

• The three-year property investor visa is granted for those who invest Dh1 million and more. Those who invest in property worth over Dh5 million are qualified for a five-year residency visa.

• Apart from that, there are also three- and five-year multiple entry Dubai property visas at a higher investment cost.

• A golden visa is available to those who give a minimum investment of Dh10 million, but only 40 per cent of that can be in real estate.

 

How to get a Dubai Retirement Visa?

Applying for retirement in Dubai is simple and straightforward. You can submit your form on the official website of Visit Dubai, or you can also call our consultants, and they can assist you with the procedure.

Provide your details

After submitting name, phone number, and email, you will receive an email with further details and instructions on the required documents.

Submit your Documents

The applicant will then need to submit the needed documents via email to the officials. The officials will then confirm the status of the application within three working days.

Documents Required for Dubai Retirement Visa

The documents required are -

The applicant must provide the supporting documents to prove they qualify for one of the options above.

• Option 1 asks the applicant to show a bank statement for the last 6 months as evidence of income.

• Option 2 asks for a bank letter stating that the account has a sufficient amount.

• Option 3 asks for a copy of the property title deed.

• Option 4 asks for both a bank letter showing the amount deposited and a copy of the property title deed.

All applicants must also provide the following documents and information:

• Copy of passport of the applicant, spouse and children, if needed

• Marriage certificate copy, if sponsoring the spouse

• A current copy of the visa, if the applicant is a resident of the UAE

• Copy of a valid Health insurance policy covering Emirates, including policies for spouse and children if applicable

• Copy of Emirates IDs of the applicant, if the applicant is a current resident of UAE

• Email address and mobile number on which which applicants can be contacted

• Eligibility evidence copy (as explained above)

• Current home address

How can we assist you?

Our visa services point at rendering a UAE visa quickly and without any hassle. We have streamlined our regional knowledge and experience cooperating with government agencies to bring you comfortable and efficient visa processing services. We provide a wide array of expert support services interacting with government ministries to procure the essential approvals, licenses, and permits – so that you can sail through your business setup in Dubai without a hiccup.

We at Commitbiz have our team of experts to help business persons with visas for their employees in Dubai and the UAE. Should you decide to start a business here, contact us, even if it's just for friendly advice.