United Arab Emirates Retirement Visa

Introduction

If you have decided and planned completely to retire in UAE. Or you have planning to stay in UAE for a few days after retirement. The UAE government initiated a scheme in the year 2018. The new type of UAE retirement visa was introduced by the UAE government. The retirement visa in UAE is especially for the eligible retiree. Even if the expatriate is not living in the United Arab Emirates and has reached the eligible age. They can also secure a UAE retirement visa if they want to stay inside the country.

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UAE retirement visa Eligibility:

• Only those ex-pats or residents already living in UAE can apply for a UAE retirement visa. If the individual has reached the retirement age this is 55 years according to the UAE government.
• The ex-pat or resident who is planning to retire in UAE should make sure that the other condition is fulfilled. To secure a UAE retirement visa at least one of the conditions required to be completed:

1. Retiring in the United Arab Emirates is possible after securing the visa. To be eligible for the visa process, you can invest in property worth AED 2 million in UAE.
2. OR you can still be eligible if you have financial savings in your bank account of AED 1 million or above.
3. OR even after retirement, you are getting income or pension every month of a minimum of AED 20,000.

UAE retirement visa validity

After the issuance of a retirement visa, the permit stays valid for the next five years. The UAE retirement visa can be renewed. The visa can be renewed if the applicant still fulfills the UAE retirement visa requirements.

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UAE retirement visa requirements for application process;

Without submitting documents for any type of visa application in UAE. The "visa process" can't be completed. Similarly, for a retirement visa along with fulfilling the requirements, certain documents are also needed:

• National and original Passport- If there are dependent like a spouse. Then the dependent passport copy is also required.
• Marriage certificate- If the applicant is applying and sponsoring the spouse visa.
• Current UAE visa (if any)- Only if you are in the United Arab Emirates and you are a resident.
• Emirates ID- If the applicant is a UAE resident, then the Emirates ID of the dependent and the application is required to be submitted.l
• To submit evidence for income or pension of AED 20,000 every month. Applicants can submit financial proof for a pension-like pension scheme. Or the official valid letter from the authority providing income or pension. Evidence or letter from the old employer confirming that you are still getting monthly income. 
• For AED one million saving proof, you can submit a bank statement. The document or bank statement must be UAE-based. The financial savings of AED 1 million must be done in UAE at any bank in a three-year fixed deposit. The financial letter must be sent by your bank for GDRFA Approval.
• For AED two million property in UAE, the evidence of the purchased property.
• Submit the retirement letter.
• Ensure that all the documents must be in Arabic if you are a resident of the UAE. All the Bank documents must be attested properly if you are a foreign national.

Health insurance is not required to be taken by the applicant for UAE 5 years retirement visa. The application process for a retirement visa in UAE can be done without health insurance. After the visa approval, you must pass all the fitness tests and apply for insurance accordingly.

Where to get a UAE retirement visa

• For Expatriates retiring in UAE on a work visa, the retirement visa can be secured from the GDRFA office.
• Foreign nationals have to enter UAE first to apply for a retirement visa. 
• GDRFA is responsible for the processing and issuance of UAE retirement visas.

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Conclusion

Retirement in UAE is a good option if one is eligible for a UAE retirement 5 years visa. UAE has a low crime rate, high healthcare standards, and facilities. The cultural diversity in UAE makes it a suitable living place. 

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