The UAE is one of the most popular places to live and work in the world for expats, offering a great lifestyle, business opportunities and safety, but what about retirement?
According to a recent survey by National Bonds and conducted by Kantar, a leading data, insights and consulting company, more than one-third of the respondents plan to retire in the UAE. Additionally, a significant number of individuals, particularly expat Arabs, are considering longer-term investment opportunities within the country, as well as 60% of Asians and Westerners respondents, are considering the UAE as an investment destination.
In light of the increasing number of expats wishing to retire in the UAE, National Bonds launched the Golden Pension Plan, a scheme for employees looking for simplicity and a low-risk investment environment to save and grow their money for their golden years.
For any expat planning to retire in the UAE, they cannot do so without a visa, here at Synergy we specialize in long-term visa approvals. A popular choice for expats is the UAE Retirement Visa. The retirement visa is morphing the UAE’s economic landscape from a place where expats came to only work and eventually leave, to where they now have an opportunity to settle and make an indefinite life in the country.
To obtain a retirement visa, the candidate must be over 55 years old and meet one of the following four criteria, in Dubai;
Option 1: A minimum yearly income of AED180,000 (approx. US$49,000) or AED15,000 (approx. US$4,100) per month (This can be a pension payment from a previous employer)
Option 2: AED1 million (approx. US$275,000) savings in a 3-year fixed deposit
Option 3: AED1 million (approx. US$275,000) property
Option 4: A combination of Options 1 and 2, valued at a minimum of AED1 million (approx. US$275,000) in a 3-year fixed deposit and property, worth AED500,000 each
If you would like assistance with applying or assessing your eligibility to obtain a retirement visa, our bespoke service will guide you through the application and issuance of the retirement visa.