New UAE Residence Visa for Retiring Expats
Dubai has always been an ideal choice for foreign residents to invest in, who have made a significant contribution to their economy and way of life for a long time. Exciting times are approaching as the UAE Government aims to establish a 5-year residence visa scheme to help open a world of opportunities for the country’s expat populace. The new pension visa offers them the chance to stay in any emirates and receive the same government perks and incentives as citizens of the United Arab Emirates.
The new 5-year pension visa will make it easier for them to remain on once the contracts are finished. More than 55 people worldwide can also move and invest in the UAE according to a five-year visa renewal scheme for individuals who fulfill specified financial circumstances. Other ideas include visas for specialists and students and local education investments.
Who has the right to a new 5-year pension visa?
Applicants shall have or invest in at least one of the following to qualify for the retirement visa:
- Dubai Dh2 million property ($542,000)
- Minimum savings worth $1 million ($271,000)
- Active monthly income of at least Dh20000 ($5,417).
As long as these standards are met, visas are renewed automatically.
What are the advantages?
This is fantastic news for the workers who have made Dubai their home. Some have a closer relationship with their adopted communities than those they have left behind and find it challenging to give up the local way of life.
An effortless lifestyle with plenty of recreational facilities, world-class shopping, golf courses, and endless beaches attracts those interested in moving and investing here. Sunshine is also a significant element throughout the year, as are more practical issues such as outstanding health and the convenience of living near an airport connecting thousands of locations worldwide.
Where are investors to look?
Dubai Properties offers a range of quality properties for sale in numerous popular locations and can advise future buyers on their unique needs and interests.
JBR (Jumeirah Beach Residence) is a 47 story beach tower with a beautiful glass façade, offering views of Palm Jumeirah, Dubai Eye Ferris, and the sea from every apartment. The building has been constructed with the utmost elegance and comfort, from its 60-foot-high atrium to its infinity pool, and includes a state-of-the-art gym, boutiques, restaurants and cafes, and exclusive beach access.
In the waterfront village of Jaddaf, real estate opportunities share the same attention to detail and beauty and reflect the historic and modern blending of the Dubai Creek. Nearby attractions include the Ras al Khor Wildlife Sanctuary, home to over 170 bird species. The 210-meter Dubai Wharf Green Wall, a quiet vertical garden, will also be appreciated by nature enthusiasts.
More green areas may be found in DUBAILAND’s destinations, with many possibilities for enthusiastic golfers or riders. Dubai Properties features a range of investment choices, including the Serena neighborhood inspired by the Mediterranean. Two, three, and four-bedroom townhouses have classic Spanish and Portuguese design characteristics and offer various leisure facilities.
To learn more about Fajar Realty’s numerous real estate investment choices or talk to one of our specialists about buying a retirement property, please immediately contact us.