Thursday 3 September 2020
The Dubai Government has launched 'Retire in Dubai', a global retirement program that offers resident expatriates and foreigners aged 55 and above the opportunity to enjoy the city's distinctive lifestyle.
The first such scheme in the region, Retire in Dubai is spearheaded by the Department of Tourism and Commerce Marketing (Dubai Tourism) in collaboration with the General Directorate of Residency and Foreigners Affairs (GDRFA-Dubai). The initiative showcases Dubai as the world’s preferred retirement destination.
Dubai Tourism has worked with its partners to develop key propositions for retirees covering healthcare, real estate, insurance, and banking. These are designed to help retirees enjoy a happy and fulfilling life. All information necessary to start the application process is available on www.retireindubai.com.
Eligible applicants will be provided a Retirement Visa, renewable every five years. The retiree can choose between one of three financial requirements for eligibility: earning a monthly income of AED 20,000 (USD 5,500); having savings of AED 1 million (USD 275,000); or owning a property in Dubai worth AED 2 million (USD 550,000).
In its initial phase, the program will focus on UAE residents working in Dubai who have reached retirement age. The program offers long-term residents of the city who are familiar with Dubai’s value proposition an easy and hassle-free retirement option. Dubai’s close proximity with the native countries of a large majority of residents makes it a convenient retirement destination for them.
The Retire in Dubai program revolves around seven key factors that make Dubai the ideal destination for retirees: