Expats Can Now Retire In The UAE

If they meet the given criteria…
ByPallavi Melwani Wednesday , 19 September 2018
Expats Can Now Retire In The UAE

On Sunday, the UAE Cabinet announced that expats over the age of 55 will be able to secure a five-year visa, provided that they certain requirements.

The meeting was chaired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, the Vice President, Prime Minister and Ruler of Dubai.

The proposal says that non-Emiratis over 55 can only retire in the country if they have an investment property worth at least Dh2 million, or financial savings of Dh1m, or an active monthly income of Dh20,000 or more.

The visa is only valid for five years, however, there is a “possibility” of renewal for those retirees who wish to stay longer and still meet the eligibility criteria.

Paul Kelly, operations director of real estate consultancy Allsopp & Allsopp, is in favour of the decision.

"The UAE property market will benefit greatly as a result, with more expats investing in family homes," he says.

“Most expats have a money-making mindset when they move to the UAE with a short-term plan and goal before moving back to their home country. The Cabinet’s decision to enforce the long-term visa law now allows expats to look at the UAE with more longevity.”

Related Articles