08 Sep 2020

Launch of 5-year retirement visa scheme for UAE residents

Authored by: Rachel Hill and Aisha Khohkar

The UAE government approved a Law to provide retired persons over the age of 55 with a residence visa for a period of 5 years (renewable). 

On 2 September 2020, the new visa scheme was announced and launched.

For retirees to be eligible for a 5 year (renewable) retirement visa, they must meet one of the following criteria:

  •         Real estate investments valued at more than AED 2 million;
  •         Financial savings of at least AED 1 million; or
  •         Minimum monthly income of AED 20,000.

The visa may be renewed for subsequent periods of 5 years assuming that the eligibility criteria continues to be met.

This retirement visa scheme is a welcome initiative and will encourage retired expatriates to remain connected to the UAE for longer periods.