Dubai’s government has announced the launch of the “Retire in Dubai” programme that will enable resident expatriates and foreigners aged 55 and above to apply for a retirement visa in its bid to turn the emirate into a retirement destination.
The announcement was made under the order of Dubai Ruler Shaikh Mohammed bin Rashid Al Maktoum.
The scheme, believed to be the first of its kind in the region, will be spearheaded by Dubai’s Department of Tourism and Commerce Marketing (Dubai Tourism) in collaboration with the General Directorate of Residency and Foreigners Affairs.
According to details made available, eligible applicants will be provided a retirement visa, renewable every five years.
The retiree can choose between one of three financial requirements for eligibility: earning a monthly income of 20,000 dirhams, savings of one million dirhams or owning a property in Dubai worth 2m dirhams.
In the initial phase, the retirement scheme will focus on UAE residents working in Dubai who have reached retirement age.
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