The UAE Cabinet on Tuesday approved amending the conditions for granting residency to retired expatriates. The move would support the UAE’s efforts to “achieving more flexibility in terms of residency laws and visa requirements”.
As per the amendments, retirees fulfilling one of the following criteria will be eligible for retirement residency:
>> Property worth Dh1 million (evaluation to be carried out by the related entity in each Emirate)
>> A bank deposit of no less than Dh1 million
>> An active income of no less than Dh180,000 per annum.
The new amendments were announced by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai.
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