Until recently, Dubai has been considered a city for the younger generation. Tourists, students, expats and remote specialists have taken the leading positions in getting visas to the UAE. The state authorities have created beneficial opportunities to concentrate the intellectual and creative elite on the territory of the country. However, since 2020 Dubai has also become an excellent city for retirees. There are many reasons why foreigners prefer to retire in Dubai, including its excellent healthcare system, beautiful weather, and diverse culture.
In this article, we will discuss what makes Dubai perfect for retiring, how to apply for a residence permit for retirees and what the process of getting a Dubai retirement visa is.
Reasons to retire in Dubai
World-class healthcare system
Dubai is an excellent city for retirees due to its world-class healthcare system. The city has some of the best hospitals and medical facilities in the world, with highly trained doctors and nurses who speak multiple languages. There are also several charitable organisations in Dubai which are non-profitable and can provide cost-free treatments for retirees.
Comfortable weather
Beautiful weather is the next plus for those who relocate to retire to Dubai. The city enjoys sunshine almost all year round, with very little rain. This means that retirees can enjoy outdoor activities such as golfing, swimming, and walking in the parks and gardens that are scattered throughout the city.
High level of safety
Dubai is also a very safe city, with low crime rates and a strong police presence. This means that retirees can feel secure living in the city, whether they choose to live in a gated community or a more traditional neighbourhood. Retirement in Dubai is comfortable due to an excellent public transportation system, which makes it easy for retirees to get around without having to worry about driving or navigating unfamiliar roads.
A blend of cultures
There are many museums, art galleries, and cultural events that take place throughout the year, giving retirees the opportunity to learn about different cultures and meet new people. So, taking retirement in Dubai, in the city where various cultures are blended, will definitely not be boring.
Affordability
Can you retire in Dubai with a tight budget? It will be difficult as you need to meet certain criteria to apply for a retirement visa Dubai. However, there are many discounts available for seniors on public transportation, and many shops and restaurants offer senior discounts as well. Additionally, there are many affordable housing options available for retirees, including apartments and villas in gated communities.
Current Statistics of US seniors retiring in Dubai
According to latest research and surveys, the number of U.S. expats in Dubai has been steadily increasing, and a significant portion of them are retirees. It’s been reported that the expat population in Dubai is approximately 90% of the total population, and around 35% of them are retirees. This percentage also includes U.S. seniors who have chosen Dubai as their preferred retirement destination.
Retirement planning Dubai should include the drawbacks as well. Although retirees may face challenges related to language and cultural barriers, they still consider Dubai to be the preferable location. It is also worth noticing that the retirement visa requirements in Dubai can be strict, and expats may require a substantial amount of savings to qualify for a retirement visa.
Residence visa for the retired
The government of the UAE approved the program «Retire in Dubai» for locals and foreigners. It was initially applied to those who have lived in the emirate for a long time, received residency and reached retirement age. However, today any senior citizen of another country who has never been to the UAE can obtain a permit. The visa is valid for 5 years with the possibility of further extension.
The retirement visa Dubai provides the following opportunities for its holders:
- Travelling around and outside the country
- Crossing the border of the UAE any time you need it
- Leaving the UAE for a non-limited period of time
Conditions for getting retirement visa Dubai
In general, the program is developed with the focus on wealthy foreigners due to the high cost of living. To apply for a Dubai retirement visa, the candidate must comply with one of the following conditions.
- A candidate must be at least 55 years old (obligatory).
- Availability of documentary evidence of retirement status, such as a certificate from the last employer, an official certificate from government agencies indicating the total length of employee tenure (obligatory).
- A candidate must have a minimum monthly income of at least AED 15,000.
- The applicant must have more than AED 1 million in savings in a 3-year fixed deposit in the UAE bank.
- The applicant must own a real estate valued more than AED 2 million which has already been paid. The property may be more expensive and purchased with a mortgage. In this case, AED 2 million of the mortgage must be already paid.
- A combination of mortgage and 3-year fixed deposit which are split.
The obligatory documents to apply for Dubai retirement visa
During retirement planning Dubai, an applicant for a visa has to collect the necessary pack of documents. The documents are to be translated into Arabic, attested by the embassy, and submitted online.
It is obligatory to submit:
- A copy of the passport of the applicant, family members and dependent people if any.
- A copy of the marriage certificate if you want your spouse to retire in Dubai.
- If you are a UAE resident already, you must issue a copy of the visa and Emirates ID. The same is about the people mentioned above.
Submit the above-mentioned documents to DLD if you are a real estate owner, or to GDRFA.
Retire in Dubai – The outcomes
If you ask how can you retire in Dubai, the best solution will be to buy real estate. The real estate agency AX Capital offers affordable housing units for people dreaming about retirement in Dubai.
Dubai seems an ideal destination to retire. It is modern, has all necessary amenities, and provides absolute safety. The new retirement visa Dubai makes it possible to relax and enjoy your retirement in one of the most advanced countries in the world.
