Expats retiring over the age of 55 years may be granted a 5-year visa provided they meet specific criteria. This announcement will allow UAE expats to live in UAE for a longer period of time. The criteria specified to obtain the 5-year visa by expat retirees are as follow:
- The expat should have investment in a property worth AED two (2) Million.
- The expat should have savings of not less than AED one (1) Million.
- The expat has an active income of not less than AED 20,000 (Twenty Thousand) per month.
The usual practice in the UAE for expats retiring is that the age limit may be increased on case to case basis, considering the individuals’ nature of work, credentials, expertise. In such cases, the employer shall bear a charge of AED 5,000 and get a yearly visa. Alternatively, such an individual may be sponsored by family members and may take a special approval from the Ministry of Human Resources & Emiratisation to continue his/her employment.