São Paulo – The government of Dubai, United Arab Emirates announced on Wednesday (2) a program designed to get foreign retirees to move to the emirate. Retire in Dubai is targeted at people aged 55 or older, the Dubai Media Office said. Requirements include valid health insurance.
Additionally, would-be residents must meet one of three requirements in order to get a five-year residence visa: a monthly income of AED 20,000 (USD 5.4 at the current exchange rate), AED 1 million in savings (USD 272,200) or owning AED 2 million (USD 544,400) worth of property in Dubai. Visas are renewable as long as one criterion keeps being met.
The program is primarily geared towards expatriates who have been living in Dubai for over ten years. “Dubai’s close proximity with the native countries of a large majority of residents makes it a convenient retirement destination for them,” a press release read.
The director-general of the General Directorate of Residency and Foreigners Affairs (GDRFA) in Dubai, Helal Al Marri, said the program will contribute to the tourism economy by “facilitating frequent visits from families and friends of the retirees” as well as increase consumption. The project is led by Dubai Tourism in coordination with GDRFA-Dubai.
The program aims to create the preferred retirement destination in the world, and to enable retirees in the emirate to lead happy, rewarding lives, a press release read. GDRFA director-general Mohammed Ahmed Al Marri said the program will “enhance the emirate’s position as a prominent destination on the global investment map.”
For additional information and registration please refer to the Visit Dubai website.
Translated by Gabriel Pomerancblum
