The UAE Government has recently approved the retiree’s residency visa – a law for expats who plan to stay in the country for 5 years after their retirement. It drew mixed reactions for OFWs who are either planning to stay or planning to go home.
A viable option
Staying in the UAE for 7 years and counting, Cres Sagun Edaño, a Senior Bid and Estimation Engineer explains that while the Philippines is his ideal place, the new residency visa for retirees opens up more options for him in the future: “I take it more than just a visa issuance – it is more of a motivation for each and every expatriate to live a more enriching, meaningful, balanced and sound life in here. UAE is too attractive and too beautiful not to be considered as a place to stay for a lifetime aside from the presence of a very dynamic Filipino diaspora.”
Jay-mar Ismael, a Business Development and Recruitment Manager and UAE resident for around 9 years now said that he’s looking forward to retiring in the UAE if the opportunity allows for him to do as such. “This is good news for all those who have businesses in the country as well as for high income earners. With this initiative of the government, expats will now have the opportunity to stay longer in the country which they consider as their 2nd home.”
No place like home
Celeste Infante, an Electrical Engineer who’s been in the UAE for 6 years says that while she doesn’t really plan on retiring here in the UAE, it’s a great move from the UAE government allowing expats to extend their stay. “The retirees can enjoy UAE as it has many beautiful places to visit. But then again, as a Filipino, there is no other place more beautiful to retire than our home country. Even after so many years of living abroad, you will always go back to your home.”
Other OFWs said that the qualifications are too high to meet:
The new law states that those who have retired and are beyond the age of 55 can stay, provided they meet the following requirements:
– have an investment in a property worth AED2 million (Php29,463,436); or
– have financial savings of no less than AED1 million (Php14,731,718); or
– have an active income of no less than AED20,000 (Php294,634) per month.
