Why should you retire in Dubai?

Why should you retire in Dubai?

It’s no surprise that ex-pat retirees want to make Dubai their permanent home, given the city’s safe environment, excellent infrastructure, and high quality of life. Following the implementation of the new retirement visa scheme, ex-pat residents now have several options for post-retirement living in Dubai. We take a closer look at the various ways that expats can consider retiring in Dubai, as well as the eligibility requirements.

Retiring in Dubai: A Guide

If you want to enjoy life in the UAE in your golden years, here are some options for how to retire in Dubai.

Register for the Retire in Dubai Program

With the recently launched “Retire in Dubai” program, expat retirees can enjoy a high standard of living in Dubai. This retirement visa scheme, launched in collaboration with Dubai Tourism and the General Director of Residency and Foreign Affairs (GDRFA), provides eligible expats with a five-year residency visa.

This Dubai retirement visa for the age of 55 is available to expat residents, as well as their spouses and dependents, who meet one of the following criteria:

  • AED 20,000 per month from pensions or a previous employer
  • AED 1 million in savings in a three-year fixed deposit in the UAE; AED 2 million in property investment (property must be located in Dubai, not mortgaged, and fully ready);
  • AED 2 million in savings and property investment

You can apply for this Dubai retirement visa on the official website of Dubai Tourism. If your application meets the requirements, it will be processed by the GDRFA or the Dubai Land Department (DLD). This five-year retirement visa in Dubai is renewable as long as you meet the financial requirements. Please keep in mind that retirees must have medical insurance, either local or international.

So, why should you spend your golden years in Dubai?

This follows the UAE government’s announcement of a new initiative that allows foreigners over the age of 55 to settle in the country.

Residents on this visa must obtain their health insurance and meet at least one of the following financial criteria:

  • Maintain a minimum cash balance of AED 1 million in a UAE bank account as a three-year fixed deposit.
  • Own a property in the UAE worth at least AED 1 million.

This new visa will allow retirees to stay in the country for five years, which will be automatically extended.

Why should you retire in Dubai? It’s a beautiful city with so much to offer. Here are our top reasons for spending your golden years here:

Take advantage of the sun all year!

It is always sunny in Dubai, making it a great place to visit all year. Residents here can plan a barbeque or a trip to the beach without worrying about the weather because there are 342 days of sun each year. Who wants to live somewhere that is cold and rainy when you can spend every day relaxing by the pool or soaking up the sun? Spend your golden years soaking up the rays!

Strong economy

The UAE has the strongest economy in the Middle East, with consistent GDP growth. The Emirati currency is linked to the US dollar, so it has remained stable. Another fantastic feature of Dubai is that all income is tax-free, giving residents much more financial freedom while living here. This, combined with the country’s economic stability, makes Dubai an excellent place to retire.

Amazing lifestyle

Skiing, golf, and camel rides in the desert are just a few of the activities available in Dubai. You will never be bored if you decide to retire here. Even in the summer, when it can be too hot to be outside for long, the shopping malls here are vast, and some are almost like mini-cities in their own right, with cinemas, ice skating rinks, and even mini theme parks! Dubai is full of glitz and glam, with some of the world’s best restaurants and numerous fine dining establishments spread throughout the city.

Culturally diverse

With the majority of residents in Dubai being foreign-born expats, the city truly is a melting pot of cultures. The country welcomes visitors of all nationalities and celebrates many of the major festivals and cultural events that take place throughout the year.

Safety

Dubai has been named one of the world’s safest cities, with an extremely low crime rate. This makes Dubai’s streets extremely safe, allowing residents to walk around the city at any time of day or night. This is due, in part, to strictly enforced laws and a well-regarded police force.

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