Retirement residence visa created

15 Nov 21

UNITED ARAB EMIRATES

IMPACT – MEDIUM

The Emirati government has created a new residence visa for foreign nationals wanting to retire in the United Arab Emirates.

Key Points:

  • Foreign nationals are eligible for retirement residence visa if they do one of the following:
    • Invest in property worth more than one million UAE Dirham.
    • Show proof of at least one million UAE Dirham in a bank account.
    • Have an active income of at least 180,000 UAE Dirham per year.

BAL Analysis: The retiree visa scheme will allow qualifying foreign nationals who have worked in the UAE to stay in the country after retirement. Authorities hope the new program will boost foreign investment in the country. BAL will continue to monitor retirement visa developments and will provide more information as it becomes available.

This alert has been provided by the BAL Global Practice group. For additional information, please contact berryapplemanleiden@bal.com.

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