In September 2020, the Government of Dubai launched the global pension program “Retire in Dubai”, which aims to attract foreign retirees as well as expats living and working in the emirate aged 55 years and over.
Thanks to this initiative, the older generation, including senior couples, are now able to obtain a permanent residence permit in Dubai, namely a retirement visa, which will be automatically renewed every 5 years. In order to obtain such retirement visa, at least one of the following conditions in regard to personal income or savings must be met:
- Monthly income of at least AED 20,000 (US$ 5,500)
- Own property in Dubai worth at least AED 2 million (approximately US$ 550,000)
- Savings of AED 1 million or more (US$ 275,000)
Why choose Dubai?
- The blue clear sea with cleanest and soft sandy beaches.
- Sunshine and warm weather all year round, except during the summer months when temperatures exceed 40°C.
- An unprecedentedly high level of safety. The country has an extremely diverse and peaceful population and the lowest level of crime in worldwide comparison.
- Knowledge of local language (Arabic) is not required. There are over 200 different nationalities living in the country, so English is a common lingua franca.
- Excellent healthcare system. There is a highly developed network of health institutions, hospitals and medical centres equipped with the latest technology. Health insurance is mandatory in Dubai; the most basic annual package can be purchased for as little as AED 917 (US$ 250).
- Well-developed and diversified education system. In the UAE, both primary and secondary education is free and compulsory. There are over 100 providers of higher education, including branches of top international universities.
- High level and top quality of services in any area of life.
- Entertainment, leisure & recreational activities to satisfy the most demanding tastes. Various concerts, exhibitions, gallery openings, workshops, sporting events, championships, etc. are held on any day of the week.
- Excellent shopping. You’ll find any global brand in the city, but there are also a lot of local, less known fashion boutiques and shops. While Dubai Shopping Festival is the most-awaited shopping event in Dubai, there are numerous other sales events and mega shopping deals throughout the year.
- Ease of doing business. The most favourable conditions have been created for setting up and running a business. Besides, there are practically no taxes in the country (5% VAT is the only exception).
- Strategic geographical location. Travelling anywhere in the world is convenient and easy.
The process of obtaining a retirement visa is extremely simple and fast compared to other countries and takes no longer than 10 days.
Thinking about moving to Dubai? Get in touch and ask for a free consultation!