The Cabinet, chaired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, has granted visa privileges to persons over the age of 55, which allow long-term residency in the state.
The new facilities are aimed at providing long-term residency options and the right environment for retirees wishing to reside in the state for prosperity and investment through a stable and high-quality financial and healthy system.
The Law stipulates special residency privileges for 5 years automatically renewed for the retired ex-pats of the age of fifty-five and above according to specific conditions, including that the retiree must have an investment in a property worth two million dirhams, the financial savings be not less than the one million dirhams or proof of income not less than 20 thousand dirhams per month, to be implemented at the beginning of 2019
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