Dubai has announced age and financial eligibility requirements for foreign nationals seeking retirement visa.
As per rules, the applicants for the Dubai retirement visa should be at least 55 years old and they must fulfill at least one of three financial conditions.
The financial conditions include owning property in Dubai, receiving a qualifying regular income or maintaining sufficient savings to cover their living expenses.
The retirement visa is designed for foreigners who want to settle in Dubai after completing their professional careers.
The scheme offers eligible residents an opportunity to enjoy the emirate’s lifestyle, leisure activities and travel options while benefiting from access to healthcare services.
Financial eligibility is a key part of the application process, as candidates must demonstrate that they have adequate resources to support themselves throughout their retirement.
Financial Requirements
Income-Based Eligibility: Applicants must demonstrate a reliable and documented yearly income of no less than AED 240,000 (approximately US$65,000), equivalent to around AED 20,000 monthly. Eligible income sources include pensions and investment returns.
Savings-Based Eligibility: Applicants must maintain financial reserves of at least AED 1 million (roughly US$275,000), either in a cash deposit or a fixed-term deposit with a maturity period of three years.
Property Ownership: Applicants must own real estate in Dubai valued at AED 1 million or more. The property must be free of a mortgage, or the owner must have repaid at least AED 1 million of the mortgage principal.
Dubai’s government presents the initiative as an opportunity for older foreign residents to enjoy a comfortable lifestyle, explore new interests and travel while living in the emirate.
For individuals considering retirement in Dubai, understanding the age limit and financial requirements is an important first step before submitting an application.
Prospective applicants should assess whether their property ownership, regular income or savings meet the applicable criteria before pursuing the visa.