The United Arab Emirates (UAE) has introduced new regulations granting a 5-year residency visa to individuals aged 55 and above.

The Federal Authority for Identity, Citizenship, Customs, and Port Security (ICP) announced these new guidelines, which come as part of the country’s broader initiative to provide enhanced stability and flexibility for foreign retirees.

Expatriate retirees wishing to settle in the UAE can now apply for a renewable 5-year residency visa, provided they meet specific criteria.

To qualify, applicants must have worked for at least 15 years, whether inside or outside the UAE. Additionally, the applicant must meet one of the following financial conditions:

Own property worth at least 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 in Dubai).

Furthermore, retirees must provide a bank statement covering the last six months as part of their application.

The residency visa, once granted, is valid for five years and can be renewed if the individual continues to meet the criteria. The ICP has outlined a clear and efficient application process, which can be completed through the UAEICP website or the smart application.

Applicants must log in using the UAE Pass, update their data, and pay the necessary fees. Once approved, residents will receive their ID cards through approved delivery companies.

In a bid to make the UAE more attractive to retirees, Dubai has introduced additional measures for foreign nationals.

Under the Dubai-specific program, retirees, along with their spouses and dependents, can apply for a renewable 5-year residency visa if they fulfill certain financial criteria.

To qualify for this Dubai initiative, retirees must meet one of the following conditions:

An annual income of at least AED 180,000 or a monthly income of AED 15,000.
Savings of AED 1 million in a fixed deposit for three years.
Investment in an unmortgaged property worth AED 1 million.
A combination of financial savings and property investment totaling at least AED 1 million.

This program aims to provide greater flexibility for retirees seeking to spend their post-retirement years in the UAE, offering them the security of long-term residency.