UAE Introduces Five-Year Residency Visa Everything You Need to Know

The United Arab Emirates (UAE) has rolled out new guidelines allowing individuals aged 55 and above to obtain a renewable 5-year residency visa.

The Federal Authority for Identity, Citizenship, Customs, and Port Security (ICP) introduced these regulations as part of the UAE’s initiative to enhance stability and attract foreign retirees.

Eligible expatriate retirees can now apply for the residency visa if they meet specific conditions:

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Eligibility Criteria:

1. Applicants must have at least 15 years of work experience, either within or outside the UAE.
2. Applicants must satisfy one of the following financial requirements:
   • Own property worth a minimum of AED 1 million.
   • Have savings of at least AED 1 million.
   • Receive a monthly income of at least AED 20,000 (or AED 15,000 for Dubai-based applicants).

Additionally, retirees need to submit a six-month bank statement as part of the application process.

Application Process:

The visa application can be completed via the UAEICP website or its smart app:

1. Log in using the UAE Pass.
2. Update the required information.
3. Pay the applicable fees. Once approved, residency ID cards will be delivered through authorized channels. The visa remains valid for five years and is renewable if the criteria continue to be met.

Dubai’s Tailored Program:

Dubai has introduced additional flexibility for retirees, allowing them and their dependents to apply for a 5-year residency visa by meeting one of the following requirements:

• A minimum annual income of AED 180,000 or a monthly income of AED 15,000.
• AED 1 million in savings deposited for at least three years.
• Ownership of an unmortgaged property valued at AED 1 million.
• A combination of property investment and savings totaling AED 1 million.

This Dubai-specific program is designed to offer greater financial flexibility and security for retirees looking to settle in the city long-term.

The UAE’s efforts to provide long-term residency options reflect its commitment to making the country a prime destination for foreign retirees, ensuring stability and financial security during their post-retirement years.