- The Dubai government published the eligibility conditions for its Retirement Visa, available to foreigners aged 55 and above
- Applicants must meet at least one of five financial requirements, including minimum income, savings, or property ownership thresholds
- It is worth noting that the visa targets retirees seeking access to Dubai's healthcare facilities, lifestyle, and travel opportunities
The Dubai government has published the requirements foreigners must satisfy to obtain a Retirement Visa, setting out five separate financial conditions that applicants aged 55 and above must meet to qualify.
According to the official guidance published by Invest in Dubai, the visa is designed to attract retirees seeking access to world-class healthcare, leisure, and travel options in the emirate.
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Who qualifies for Dubai's Retirement Visa?
Applicants must be at least 55 years old and satisfy at least one of the following conditions:
1. A minimum yearly income of approximately US$49,000 (AED 180,000 / ₦75,460,000) annually.
2. A minimum of approximately US$275,000 (AED 1 million / ₦419,250,000) in savings held in a three-year fixed deposit.
3. Ownership of unmortgaged property valued at a minimum of approximately US$275,000 (AED 1 million / ₦419,250,000).
4. A mortgaged property with a minimum of approximately US$275,000 (AED 1 million / ₦419,250,000) already paid off.
5. A combination of three-year fixed deposit savings and property worth a minimum of approximately US$275,000 (AED 1 million / ₦419,250,000) in total, with the property component valued at no less than approximately US$137,500 (AED 500,000 / ₦209,625,000).
What the Dubai Retirement Visa offers retirees
The Dubai government positioned the scheme as an opportunity for qualifying foreigners to enjoy relaxation, self-exploration, and travel, while benefiting from the emirate's healthcare infrastructure.
Applicants who meet any one of the five financial thresholds become eligible, giving prospective retirees multiple routes into the programme depending on their financial circumstances.
In a related story, Legit.ng reported that Dubai had set an age limit for foreigners seeking its retirement visa.
Income requirement for Dubai's Retirement Visa
Meanwhile, Legit.ng previously reported that Dubai had published how much foreigners must earn yearly to qualify for its retirement visa.
The Dubai government's official investment portal confirmed that the retirement visa is open to applicants aged 55 and above who can demonstrate sufficient financial standing.
The scheme targets older foreign nationals looking to relocate to Dubai on a long-term basis.
Source: Legit.ng