As part of UAE’s ongoing effort to boost the economy, the UAE Cabinet has recently introduced new changes to the UAE immigration system. It approved a law to provide a special residency regime for retired expatriates over the age of fifty-five years old. Such retirement visas will be provided for a period of five years with a possibility of further renewal under the following specific conditions:
- the applicant should have investment in a property worth no less 2 million AED or
- have savings of no less than 1 million AED or
- have an active income of not less than 20,000 AED per month.
It also should be noted that the expats require a valid health insurance to be eligible for this visa.