The United Arab Emirates (UAE) has introduced a transformative initiative for expatriates aged 55 and above, offering them a renewable five-year residency visa. The Federal Authority for Identity, Citizenship, Customs, and Port Security (ICP) introduced the new residency and ID card regulations for retirees, who meet the specified requirements.
This move aims to enhance the country’s appeal as a retirement destination, ensuring financial stability and providing a seamless application process for retirees.
Under the new guidelines announced by the Federal Authority for Identity, Citizenship, Customs, and Port Security (ICP), retirees meeting specific criteria can enjoy extended stays in the UAE, adding a new chapter to the country’s efforts to create a welcoming environment for all.
Qualification for this visa requires the applicant to have worked for at least 15 years, either inside or outside the UAE.
Key Requirements for the 5-Year Retirement Visa
To qualify for this extended residency option, applicants must satisfy these essential criteria:
- Professional Experience: A minimum of 15 years of work experience, which can be accumulated either within the UAE or internationally, establishing the applicant’s career credentials.
- Financial Requirements: Candidates must demonstrate financial stability through one of these options:
- Property ownership valued at Dh1 million or above
- Savings of at least Dh1 million
- Monthly income reaching Dh20,000 (Dh15,000 for Dubai residents)
- Age Requirement: Applicants must be 55 years or older to be eligible
- Documentation: Recent bank statements covering the previous six months are mandatory
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How to Apply: Step-by-Step Process
The ICP has streamlined the application process through their digital platforms:
- Access the official ICP website or UAEICP smart application
- Sign in with your UAE Pass credentials
- Choose UAE ID and residency services
- Verify and update your information
- Complete the fee payment
- Receive your ID card via authorized delivery services
Dubai’s Enhanced Retirement Programme
Dubai offers an additional pathway for retirees with its specialized programme. This initiative extends to foreign nationals, their spouses, and dependents through a renewable 5-year visa scheme.
Financial Criteria for Dubai Retirement Visa
Applicants must meet one of these financial benchmarks:
- Regular Income Option: Yearly earnings of Dh180,000 (monthly Dh15,000)
- Savings Route: Dh1 million maintained in a fixed deposit for 3 years
- Property Investment: Ownership of unmortgaged property worth Dh1 million
- Combined Approach: Total investment of Dh1 million split between:
- Dh500,000 in a three-year fixed deposit
- Dh500,000 in property
Renewal and Long-term Prospects
The visa maintains its validity for five years, with renewal options available for those who continue to satisfy the requirements. This framework provides stability for retirees planning their long-term stay in the UAE.