Muscat: Under the directives of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, the Dubai Government today announced the launch of Retire in Dubai, a global retirement programme that offers resident expatriates and foreigners aged 55 and above the opportunity to enjoy the emirate’s distinctive lifestyle.
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). The new initiative showcases Dubai as the world’s preferred retirement destination.
To ensure a competitive offering, Dubai Tourism has worked with its partners to develop key propositions for retirees covering healthcare, real estate, insurance and banking. Details of the offerings, designed to help retirees enjoy a happy and fulfilling life, and all information necessary to start the application process, are available on www.retireindubai.com.
Eligible applicants will be provided a Retirement Visa, renewable every five years. The retiree can choose between one of three financial requirements for eligibility: earning a monthly income of Dhs20,000 (approx. $5,500); having savings of Dhs1 million (approx. $275,000); or owning a property in Dubai worth Dhs2 million (approx. $550,000).
In its initial phase, the programme will focus on UAE residents working in Dubai who have reached retirement age. The programme offers long-term residents of the city who are familiar with Dubai’s value proposition an easy and hassle-free retirement option. Dubai’s close proximity with the native countries of a large majority of residents makes it a convenient retirement destination for them.