This Dubai has announced a new 5-year visa aimed at those 55 and older, around the globe, to travel to Dubai and begin a new life in the sun. This opportunity is unlike anything before it in the region and aims to allow residents to have a unique retirement lifestyle.
The scheme has been developed in collaboration with the Department of Tourism and the General Directorate of Residency and Foreigners Affairs and has worked with multiple partners to help create attractive plans for retirees, including healthcare, insurance, banking, and real estate.
The initiative aims to further develop Dubai as an attractive city, by easing accessibility and by providing a hassle-free retirement for both current residents and to those overseas. In return for retiring in Dubai, retirees are offered a life of reasonable luxury, the opportunity to meet people from all walks of life, and the convenience of being able to travel to over 240 destinations at their doorstep.
To be eligible for the visa, the retiree must meet the visa criteria, which includes meeting one of the three financial requirements. The retiree must have either a monthly income of 20,000AED, 1 millionAED in cash savings, or 2 millionAED in property located in Dubai. Alongside this, the retiree must also have valid UAE health insurance.
With several sponsors and partners, the retirement program will help to boost Dubai's tourism economy, with the hope of increased and reoccurring visits from both friends and families of the retirees. It hopes to strengthen the Emirate's position as a favored tourism and lifestyle spot and continue to help grow and improve its international reputation as both a business and investment center.
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