The UAE Cabinet chaired led by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President Prime Minister of the UAE and Ruler of Dubai, amended the retirement residency scheme for expats.
The decision inspires hope among long-time expats who set sights on staying in the country for good.
“If the retiree fulfils one of the following criteria, will be eligible for retirement residency. The criteria are: a single property or more than one property worth Dhs1 million (evaluation to be carried out by the related entity in each Emirate), or a bank deposit of no less than Dhs1 million, or an active income of no less than Dhs180,000 per annum,” the report said.
The UAE had previously announced a retirement scheme in 2018 to allow expats to retire in the country, so long as they met certain criteria.
These criteria used to be a monthly income of AED20,000, savings amounting to at least AED1 million, property in Dubai worth AED2 million.
The meeting was held last Tuesday at Expo 2020 Dubai.
Apart from the residency for retired foreigners, UAE officials also approved the standardization of maternal and newborn healthcare services.
كما اعتمدنا اليوم شروط منح الإقامة للأجنبي المتقاعد. حيث يمكن للمتقاعدين إكمال إقامتهم معنا في دولة الإمارات . . نرحب بالجميع في بلدنا.. pic.twitter.com/wVbnqStoSc
— HH Sheikh Mohammed (@HHShkMohd) November 9, 2021
