Dubai launches Global Retirement Programme: Three different requirements & seven advantages await!

The Dubai government has launched a Global Retirement Programme (known as ‘Retire in Dubai’) on September 2nd 2020, which offers expatriates and foreigners aged 55 and above an enjoyable and unique lifestyle in the UAE. 

The first such scheme in the region, Retire in Dubai, is spearheaded by the Department of Tourism and Commerce Marketing (Dubai Tourism), in collaboration with the General Directorate of Residency and Foreigners Affairs (GDRFA-Dubai). This new initiative will promote Dubai as the world’s most preferred retirement destination. 

To ensure competitive services, Dubai Tourism has worked with various partners to create customized packages for the retiree, including healthcare, medical, real estate, insurance and banking. The official website provides details on the information needed to apply for this programme, and how the retiree can live a fulfilling retirement life in the UAE. 

Eligible applicants will be issued a renewable retirement visa every five years. 

The retiree can choose between one of the three financial requirements: 

a) Monthly income of AED20,000 (approx. USD5,500), and the source of income shall be from investment or pension; 

b) A saving of AED1,000,000 (approx. USD272,000); 

c) or owning a property in Dubai worth AED2,000,000 (approx. USD540,000). 

Compared to the Dubai Investor Visa, the age requirement for this visa is higher (55 years old and above) but is more relaxed in terms of the amount of investment. 

To obtain a retirement visa, senior citizens only need to meet one of these requirements: savings, income or property. At the same time, the Dubai Investor Visa has only one option: to purchase a property. 

In its early stages, the program focuses on UAE residents working in Dubai who have reached the retirement age, providing an easy and hassle-free retirement option for those who have familiarized themselves with Dubai. 

The head of Dubai tourism, Helal Saeed Almarri, made the following remarks when announcing the programme: “This Global Retirement Programme will elevate Dubai’s position as an iconic global city and make it the most sought-after destination.” This strategy allows foreigners and international retirees to take advantage of the city’s open-door policy, tolerance and incredible quality of life and living in one of the world’s fastest-growing and multicultural cities. 

The head of the General Directorate of Residency and Foreigners Affairs (GDRFA), Mohammed Ahmed Al Marri, pointed out that Dubai ranked 11 among the top 20 most popular destinations for venture capital investment in 2020, and first in the Middle East and North Africa region. It proves the strength of Dubai’s investment environment and its success in creating a whole new opportunity for itself despite the challenges caused by the pandemic. 

Seven critical benefits of retiring in Dubai

  1. Unique lifestyle

Dubai is home to more than 200 nationalities. It’s a cosmopolitan destination where cultures, beliefs and values are united under a banner of tolerance and diversity. Although Arabic is the official language, Dubai is a multilingual city where English is the most wildly spoken language. 

Dubai Tourism works with its real estate partners Dubai Holding, Meraas, Emmar and Emirates NBD, introducing retirees to banking solutions that can help them own a property that fits their lifestyle. This option is only available to the retirement visa holder. 

  1. Convenience

Dubai provides its residents with a comfortable and hassle-free lifestyle, from home service to food delivery. It’s a luxurious but affordable city where retirees can choose the quality of life they desire. 

  1. Recreation and entertainment

Dubai is one of the most popular destinations when it comes to leisure and shopping. Living in Dubai, all your needs will be covered, regardless of recreation or entertainment. 

As the capital of gastronomy, Dubai has so much to offer; catering to all appetites, cultures and budgets. The residents can choose from thousands of cafes, food trucks and restaurants that reflect the taste of 200 nationalities – served by a Michelin-star chef or a street food vendor. 

Aside from that, Dubai offers various leisure destinations, including a world-class spa, beaches, cities and desert resorts. As for fans of art and culture, Dubai provides many ways of rediscovering its history and legacy, making it a vibrant community for artists. They too have the opportunity to participate in various festivals and activities in the city.

  1. Active and healthy community

Retirees have access to a variety of healthy lifestyle options. Be it a slow jog along the beaches, chilling at the exquisite garden or hiking in Hatta, the active citywide movement driven by the Dubai Fitness Challenge reflects the collective spirit in Dubai and a strong sense of community. 

  1. Great location and connectivity

Its ideal geographical location between the West and the East, Dubai’s highly-connected infrastructure, both technological and physical, makes it easier for retirees to connect and visit their families from all around the world. 

Dubai International Airport (DXB) is one of the busiest airports in the world, connecting more than 240 destinations via 140 airlines. As the second airport, Dubai World Central (DWC) is opening, connectivity becomes one of the most attractive advantages.

With two homegrown airlines, Emirates, flydubai, and more than 100 regular and low-cost airlines to choose from, Dubai is ranked as one of the world’s top cities for airline connectivity. 

A gateway to the world, you can reach anywhere in Europe, Asia and Africa within 8 hours. 

  1. World-class healthcare

Dubai offers the highest quality of healthcare in all specialties. Following the global pandemic outbreak, Dubai’s robust healthcare system strengthened under the highest international benchmarks and best practices. This city remains one of the world’s safest travel destinations. 

Besides that, Dubai Tourism partnered with leading companies from various industries to develop competitively-priced insurance packages for retirees. 

  1. Legacy Management

To ensure the retirees have their life planned and protected, the DIFC Wills Service Centre has upgraded its will drafting, registering and probate service at an exclusive competitive rate. These services help to ensure that the retirees’ legacy is secure and will be passed on to their loved ones while enjoying their retirement life in Dubai. 

Want to live an enjoyable and fulfilling life in Dubai? Let our team connect you to a great retirement home in the UAE! Drop your details below and one of our team members will assist you as soon as possible.

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