Dubai has long been a place for ambitious, younger people seeking exciting job opportunities. Now, it is also set to become the place for older people seeking the good life as well. The government of the emirate has introduced a new type of visa, allowing expats to retire in there for the first time.
To qualify for the retiree visa, you must be over the age of 55, and also meet the financial requirements. This includes having a monthly income in excess of 20,000 dirhams ($5,400) and have 1 million dirhams in cash savings ($275,000). You are also required to purchase a property in Dubai worth more than 2 million dirhams ($545,000).
Dubai is a popular location because of its warm climate, excellent internal and international transport links, good food options, and recreational activities.
The program will reward expats who have lived and worked in Dubai, but faced having to return to their home countries as they reach retirement age.
It will also attract people seeking to retire from colder climates like the United Kingdom, where Brexit has made the dream of moving to Mediterranean countries like Spain, Portugal, France and Italy, a little more complicated.
Retirees are required to take out health insurance as a precondition for moving. Dubai’s tourist board argues that the emirate has one of the best health systems in the world.
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