ABU DHABI: In a recent development, the UAE has introduced new regulations for issuing residency and identification cards to retired residents, including a 5-year residency visa for expatriates aged 55 and above.
For the purposes of this program, expatriate retirees must meet certain criteria, which include having worked to the most for a minimum of 15 years either in UAE or overseas, others are financial obligations-a property worth AED 1 million, savings valued at AED 1 million or a monthly income of AED 20,000, with AED 15,000 in Dubai-being fulfilled also. Besides, they need to submit for this proposal a valid six-month bank account statement.
If the applicant meets those criteria, he or she may renew for an additional 5-period. The Federal Authority for Identity, Citizenship, Customs & Port Security issued instructions on how applicants may apply for the residency visa and UAE ID card online or through the UAEICP smart application.
Login via UAE Pass and select “UAE ID and Residency Services.” Review and update the retrieved data, pay the applicable fees, and get an ID card through approved delivery services.
In addition to the above federal criteria, Dubai has a separate programme aimed at attracting retirees, allowing the retiree, his or her spouse and dependents to apply for renewable 5-year residency visas.
To qualify for the Retiree Programme in Dubai, applicants must be above 55 years of age and meet at least one of the following financial criteria: have an annual income of AED 180,000 or a monthly income of AED 15,000; etc.
The list includes an investment in properties valued over AED 1 million not encumbered by existing mortgages, an equivalent amount in investment panorama fixed deposit for three years, or any seder of other options.
The new rules reflect the liberalization of retiree settlement in the Arab state and have an attractive option for echelon expatriates wishing to retire in a peaceful and friendly environment in the UAE.
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