Good news for anyone who wants to see out their senior years in the UAE. The country’s Cabinet has approved residency visas for expat retirees.
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, announced on Twitter that the Cabinet has approved a new law allowing residents to stay on in the UAE after the age of 55 – if they own property or have substantial savings.
The #UAE Cabinet approved a law to provide special residency-visa privileges for expats retirees over the age of fifty-five years for a period of five years, with the possibility of renewal, according to specific conditions.
— Dubai Media Office (@DXBMediaOffice) September 16, 2018
The retirement visas will last for five years, “with the possibility of renewal, according to specific conditions.” Those are: having an investment in a property worth AED 2 million, or financial savings of no less than AED 1 million, or an active income of no less than AED 20,000 per month.
This new law comes in effect from 2019 and joins other huge changes to the UAE’s visa system. In May 2018 the UAE Cabinet decided that some key professions could be granted long-term visas.
At the same meeting, the Cabinet also announced that the Federal Electricity & Water Authority is to reduce electricity charges on factories by up to 29 per cent and waive electricity connection fees for new factories.
A “one-day” system for the UAE’s federal courts, to speed up judicial processes will also be introduced and the Cabinet also adopted unified national standards for public and private hospitals.