UAE retirement visa: Residents thrilled, say they have been waiting for new scheme.
14 November 2021, 12:00 AM
30 November 2021, 12:00 AM
The UAE Cabinet recently announced amendments to make it easier for expats to retire in the country, and long-term residents are all for it.
As per the amendments, residents will be eligible for the retirement residency if they fulfil one of the following criteria: A single property or more than one property worth Dh1 million (evaluation to be carried out by the related entity in each emirate), or a bank deposit of no less than Dh1 million, or an active income of no less than Dh180,000 per annum.
Mukhtar Khalid, a Pakistani expat who has been staying in Dubai for the past 12 years, said he has been impressed by the lifestyle and environment.
"This law amendment is something I have been waiting for,” he said.
Khalid works as a manager at an aviation firm in Jafza. What sticks out to him about the UAE is that it is a friendly country with a high tolerance rate.
"I did not find anything intolerant in this country and wasn’t discriminated with anything,” he said.
Shaheenoor Shah, director of E-First Global, a business set-up and residency processing organization, said the latest announcement will provide clarity to those planning to retire in the UAE.
"It will also help us to advise them,” she said. "This reflects the UAE Government’s vision to have a diverse mix of residents in the UAE,”