Do you love Dubai so much that you want to make it your forever home? Well, now you can!
This comes after an announcement made by the UAE government, who has launched a new initiative that allows foreigners over the age of 55 to settle within the country.
Residents under this visa will have to obtain their own health insurance policy, as well as meet at least one of the following financial criteria:
- Earn a minimum monthly income of AED 15,000
- Hold a minimum of AED 1 million in cash savings in a UAE bank account in a three-year fixed deposit
- Own a property worth at least AED 1 million within the UAE
This new visa will allow retirees to live in the country for 5 years, which will automatically be extended.
So why should you retire to Dubai?
Dubai is a beautiful city, with so much to offer, who wouldn’t want to retire here? Here are our top reasons as to why you should spend your golden years here.
Enjoy the sun all year round!
It is always sunny in P̶h̶i̶l̶a̶d̶e̶l̶p̶h̶i̶a̶̶ Dubai, making it a great place to be year-round, With 342 days of sun each year, residents here can plan a barbeque or a trip to the beach without having to worry about the weather. Who wants to be somewhere that is cold and rainy when you can live in a place where you can spend everyday relaxing by the pool or soaking up the sun. Spend your golden years catching some golden rays!
The UAE has the strongest economy in the Middle East and has seen steady growth in GDP, The Emirati currency is linked to the US dollar, which has meant it has remained stable. Another great aspect of Dubai is that all income is tax-free, meaning residents have much greater financial freedom whilst living here. This, combined with economic stability, makes Dubai a great place to retire to.
Dubai has pretty much every single activity available, from skiing to golf, to camel riding in the desert. If you decide to retire out here, you will never be bored. Even in the summer months where it can be a bit too hot to be outside for too long, the shopping malls here are vast, and are almost like mini-cities themselves, with cinemas, ice skating rinks, and some even have mini theme parks! Dubai is full of glitz and glam, with it being home to some of the world’s best restaurants, with numerous fine dining establishments across the city.
With the majority of people living in Dubai being foreign-born expats, the city really is a multi-cultural melting pot. The country is welcoming to people of all nationalities and celebrates many of the major festivals and cultural celebrations that occur throughout the year.
Dubai has been named as one of the safest countries in the world, with an extremely low crime rate. This makes the streets of Dubai very safe, with residents being able to walk around the city day or night worry-free. This is in part due to the strictly enforced laws and the well-respected police force.
You can see, there are many amazing reasons why you should retire to Dubai. It is a bustling city with so much to offer, from the countless activities, its cultural diversity, its safety, and of course, the year-round sunshine.