Dreaming of Retiring in Dubai? Here’s How to Secure Your Dubai Long-Term Visa
Dubai has forever been the playground of the rich, and that’s not all. The city is fast emerging as a haven for retirees who can spend their post-retirement life in style with world-class facilities, superlative architecture, and pulsating culture, offering just the right blend between comfort and adventure. If you are considering retiring in this glittering city, here comes a complete guide to getting your long-term visa.
Financial Requirements for the Retirement Visa in Dubai
With a retirement visa, there are specific financial requirements to be met. There are several ways through which you can get your retirement visa depending on the individual’s financial status. You will be able to apply for the income-based route, meaning:
Retirees will be able to qualify by demonstrating that they have a sustainable annual income of at least AED 180,000, which is equivalent to about USD 49,000. This comes to approximately AED 15,000 a month, which is roughly equivalent to USD 4,100, ensuring that one has a steady flow of funds to support their lifestyle in the UAE.
Savings-Based Option:
Another way is to keep AED 1 million in a 3-year fixed deposit account, which comes to approximately USD 275,000. This savings route portrays an individual as being not only financially stable but also self-sufficient during his or her stay here.
Property-Based Route:
This financially supporting requirement can be fulfilled by investing in property worth at least AED 1 million (about USD 275,000). The property should either be fully paid for or mortgaged (with an overall amount already paid of not less than AED 1 million).
Savings and Real Estate Combination
A mix of both is also an option. You can add your savings and property for the financial requirement to be satisfied. For example, AED 500,000 kept in a fixed deposit and AED 500,000 in property would account for AED 1 million.
How to Apply for a Visa
The process of obtaining a long-term visa in Dubai differs accordingly as to which type of financial route you opt for to follow out of the ones mentioned above:
For Savings Applications:
The applications are governed by the General Directorate of Residency and Foreign Affairs [GDRFA]. You can submit an online application by visiting GDRFA’s Smart Services, then select the ‘Individuals’ login option where you can create an account, log in, and then submit your application through your dashboard.
For Property Applications:
You must visit the Dubai Land Department’s office to continue your application. This is because it is the agency that regulates the real estate sector and handles property-related applications.
Visa costs and fees
This will involve a total payment of AED 3,714.75 (approximately USD 1,011) to be paid by each applicant upon approval of their application by the GDRFA or DLD. This includes all visa-associated costs that one is liable to pay, among them entry permits, adjustment of visa status in case of entry permit, residency stamping, Emirates ID, medical examination, and management fees.
Why Retire in Dubai?
Dubai offers outstandingly good contemporary apartments and luxurious villas within vibrant residential communities.These are apartments, all of which provide comfort and convenience to the retirees looking for a high standard of living. From a quiet beachfront apartment to a villa in the middle of a roaring neighborhood, Dubai has everything.
Conclusion:
While others dream of retiring in Dubai, what it takes is some proper financial planning and awareness about obtaining the process of getting a visa. Considering the luxurious living, world-class health facilities, and safety that Dubai has to offer, definitely it’s one of the best cities available at this age. So, are you ready for this fantastic voyage? Just follow these easy steps to get your long-term visa, and a new life in this vibrant city can be yours.
