UAE Introduces 5-Year Residency Visa For Expatriate Retirees
The United Arab Emirates (UAE) has unveiled a new residency programme that allows expatriate retirees aged 55 and above to apply for a 5-year residency visa, marking a significant step towards accommodating retirees within the country.
The initiative, launched by the Federal Authority for Identity, Citizenship, Customs, and Port Security (ICP), offers retirees the flexibility to continue residing in the UAE after their working years. The visa is renewable if applicants meet the specified criteria.
Eligibility Criteria
To qualify for the 5-year visa, applicants must meet at least one of the following conditions:
- Work Experience: A minimum of 15 years of work experience, either within or outside the UAE.
- Property Ownership: Ownership of property valued at Dh1 million or more.
- Savings: Savings of at least Dh1 million.
- Income: A monthly income of Dh20,000, or Dh15,000 for those applying through the Dubai programme.
Applicants must also provide a bank statement from the last six months to verify their financial status.
Application Process
The ICP outlined a streamlined application process, which includes:
- Logging in via the UAE Pass on the ICP’s official website or the UAEICP smart application.
- Selecting the relevant residency and ID services.
- Reviewing and updating personal information.
- Paying the required fees.
- Receiving the residency card through approved delivery companies.
Dubai-Specific Programme
Dubai offers a tailored programme for retirees, extending eligibility to spouses and dependents. The financial requirements for Dubai include:
- Income: An annual income of Dh180,000 or a monthly income of Dh15,000.
- Savings: Dh1 million in a fixed deposit for three years.
- Property: Investment in unmortgaged property worth Dh1 million.
- Combination: A mix of fixed deposits and property investment totaling Dh1 million, with at least Dh500,000 allocated to each.
Aims of the Programme
The UAE’s introduction of this initiative is part of a broader strategy to attract long-term residents, including retirees, and foster economic growth and community stability.
By creating more inclusive pathways for residency, the UAE seeks to enhance its appeal as a global hub for expatriates and retirees looking to enjoy a high quality of life.
