UAE introduces five year residency visa for retired residents over 55
UAE has announced new regulations for issuing residency and ID cards to retired residents
Abu Dhabi: The Federal Authority for Identity, Citizenship, Customs, and Port Security (ICP) has announced new regulations for issuing residency and identification cards to retired residents in the UAE.
This includes the introduction of a 5-year residency visa for expatriates aged 55 and above. According to the ICP, expatriate retirees who are 55 years or older can now apply for a 5-year residency visa to live in the UAE.
To qualify for this visa, applicants must meet the following criteria
The applicant must have worked for at least 15 years, either inside or outside the UAE.
The individual must own property worth at least Dh1 million or, have savings of at least Dh1 million, or receive a monthly income of at least Dh20,000 (or Dh15,000 in Dubai).
A bank statement from the last six months is also required.
This residency visa is valid for 5 years and can be renewed if the applicant continues to meet the same requirements.
Application Process The ICP has outlined the steps to apply for a residency permit and UAE ID card for retired residents through its official website and the UAEICP smart application.
The application process includes the following steps
Log in using the UAE Pass.
Select the UAE ID and residency services.
Review and update the retrieved data, and pay the required fees.
Receive the ID card through approved delivery companies.
Dubai’s special regulations for retirees
In addition to federal regulations, Dubai has introduced a special program to attract retirees. This program allows foreign nationals, their spouses, and dependents to apply for a renewable 5-year residency visa if the retiree meets certain criteria.
Primary conditions
The retiree must be at least 55 years old and fulfil one of the following financial requirements.
Option 1: An annual income of at least Dh180,000 or a monthly income of Dh15,000.
Option 2: Financial savings of Dh1 million in a fixed deposit for 3 years.
Option 3: Investment in an unmortgaged property worth Dh1 million
Option 4: A combination of Options 2 and 3, totalling at least Dh1 million, with Dh500,000 allocated to a fixed deposit for 3 years and Dh500,000 in property.
These initiatives aim to provide greater flexibility and security for retirees wishing to settle in the UAE, ensuring they can enjoy their post-retirement years in the country.