Retirement Visa

Criteria

You are eligible if you fulfil the following criteria:

• Hold an investment worth AED 1,000,000.

• Own one or more real estate properties in the UAE, where the purchasing or market value is not less than AED 1,000,000 provided that the evaluation is performed by the competent authority in the concerned Emirate. For mortgaged property, a property deed shall be accepted, provided that the value paid for releasing the mortgage from the total value is not less than AED 1,000,000 at the time of submitting the application for obtaining residency.

  Or

• Have a financial deposit of no less than AED 1,000,000 inside or outside the UAE, provided that it shall be transferred and deposited in any financial institution in the UAE within sixty (60) days from the date of issuing the residence permit, except in the case where the deposit is invested in the UAE.

• Have a fixed annual income that is no less than AED 240,000 or its equivalent in foreign currencies, whether the source of income is from inside or outside the UAE.

Requirements

To apply for the Retirement Residence visa, you will need to provide:

For Fixed Deposits:

• A statement issued by a bank licensed to operate in or out of the UAE showing a deposit of at least AED 1,000,000 or its equivalent in foreign currencies and that the deposit will remain for a period of not less than two (2) years.

For Real Estate:

• A real estate unit value certificate issued by the Department of Municipalities and Transport (DMT) or any other competent authority in charge of real estate registration in the UAE.

• A search certificate issued by the Department of Municipalities and Transport (DMT) or any other competent authority in charge of real estate registration in the UAE proving that the property is not subject to seizure by any judicial authority and has a value of at least AED 1,000,000.

For Annual Income:

• A bank statement proving an annual income of no less than AED 240,000 or its equivalent in other currencies.

How to Apply

Non-Work Visa applications can be submitted as per the rules and regulations of the Federal Authority for Identity, Citizenship, Customs & Port Security on their website: https://icp.gov.ae/