The UAE offers several visa options for retirees, each with its own eligibility criteria and duration. One such option is the retiree property investment visa. Retirees can secure a long-term stay in the country through ownership of qualifying real estate options, making it a practical choice for those looking to settle permanently in the UAE.
UAE Visa by Buying Property After Retirement
The cabinet chaired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has granted multiple visa privileges.
The expatriates aged 55 or above can acquire a long-term residency visa to stay in the country. Eligible retirees can obtain a renewable visa valid for five years once they meet the criteria, including ownership of qualifying real estate worth AED 1M or above.
UAE Retirement Visa Eligibility Criteria
There are a few additional requirements for UAE property investor visas for retirees.
- The property must have a purchase price or market value of at least AED 1M as assessed by the relevant authorities.
- Applicants must hold financial deposits of no less than AED 1M within or outside the country, provided the amount is transferred to a UAE-based financial institution within 60 days of visa issuance.
- A minimum monthly income of AED 180k is required, proven by bank statements for the past six months.
How to Apply for the UAE Retiree Visa
The property investment visa after retirement can be obtained through the following channels:
- ICP Smart Services / UAEICP Mobile Application:
- Customer Happiness Centres:
- Step 1: Visit the nearest Customer Happiness Centres
- Step 2: Get a ticket using the queue system
- Step 3: Submit the application along with all the required documents
- Step 4: Pay the service fee (if applicable) and complete the process
- Step 5: Receive visa within 1 working day
- Typing Centers:
- Step 1: Visit the nearest typing centre accredited by the Federal Authority for Identity, Citizenship, Customs & Port Security (ICP)
- Step 2: Submit the application along with all the required documents
- Step 3: Pay the service fee (if applicable) and complete the process
Service Fee for Retiree Visa
The service fees for a retiree visa in the UAE is:
- Request Fee: AED 100
- Issue Fees: AED 100
- E-Service Fees: AED 28
- ICP Fees: AED 22
- Smart Service Fees: AED 100
Documents Required for the Retiree Visa
Retirees must provide the following documents when applying for the property investment visa.
- Coloured photo of the applicant
- Proof of financial deposit
- Passport of the beneficiary of the service (copy)
- Bank account statement for the last six months
- Experience certificate, showing at least 15 years of experience (optional)
- Obligation to transfer the financial deposit or investment for the value of the deposit inside the country (optional)
Besides ICP, Dubai, Abu Dhabi and Ras Al Khaimah (RAK) offer their own retirement visa through property investment, with fees and requirements that may vary slightly. For the Dubai Investment Visa, applicants with a mortgaged property must have at least AED 1M paid off. The service fee for this visa, charged by the Dubai Land Department (DLD), is AED 6,984.75, slightly higher than the fee charged by ICP.
FAQs
Can I get a UAE retirement visa by buying property?
Yes, expatriates aged 55 or above, or those who have completed 10 to 15 years of service and own property valued at no less than AED 1M, qualify for the property investment visa for retirees in the UAE.
What is the minimum property investment required for the UAE retirement visa?
The minimum property investment requirement for a retirement visa is AED 1M.
What documents do I need to apply for a UAE retirement visa through property?
Applicants generally need a passport copy, bank statements, proof of income and any additional documents requested by the emirate’s authority.
Can I buy multiple properties to meet the UAE retirement visa requirement?
Yes, multiple properties can be combined as long as the total value meets or exceeds AED 1M. In fact, applicants also buy off-plan property for an investment visa in Dubai.
Is the UAE retirement visa available in both Dubai and Abu Dhabi?
Yes, both emirates offer a retirement visa through property investment, although requirements, steps and fees may vary slightly.
This is how to get a UAE visa by property investment after retirement. It is a practical route for retirees planning to settle in the country after completing their professional journey. Retirees can choose any property for sale in the UAE valued at AED 1M or above to meet the investment requirement, making it a straightforward option for long-term residency.
Stay connected with dubizzle’s property blog to learn more about property investment visas.
