Retirement Visa
The individual must be at least 55 years old and meet one of the following financial requirements in order to qualify for a 5-year retirement visa.
For a retiree to be eligible for the retirement visa, he/she must:
- Must be or be 55 years of age or older at the time of retirement, or have worked for not less than 15 years inside or outside the UAE.
- Must possess a house or other properties worth at least AED 1 million, have financial savings worth of AED 1 million or earn at least 20,000 AED per month (15,000 a month for Dubai). They should also provide a valid bank statement of the last six months.
If the individual satisfies all the mentioned requirements, the validity of the visa can be extended up to 5 years.
- Income: Must have a sustainable income of AED 180,000 per year.
- Savings: Must have AED 1 million saved on a 3-year fixed deposit.
- Property: Must have AED 1 million on a property (not mortgaged) or payment to the date of AED 1 million for a mortgaged property.
- Savings & Property: Must have a 3-year fixed deposit of AED 500,000 and a property worth of AED 500,000.
The documents required are listed below (for all 4 financial criteria):
- A valid passport copy of the applicant.
- A copy of UAE Visa (if you are a UAE resident).
- Copy of Emirates ID (if you are a UAE resident).
- Marriage certificate copy (if sponsoring your spouse).
The individual must submit the following additional documents based on their financial criteria:
- Income: Proof of income and a 6-month bank statement.
- Savings: Proof of savings letter and proof of retirement letter.
- Property: Copy of title deed.
- Savings & Property: Copy of title deed and proof of savings letter.
