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UAE retirement visa: Residents thrilled, say they have been waiting for new scheme
The UAE is a great place to retire, one expat said.
File photo for illustrative purposes
For many UAE expats, the new retirement visa is a dream come true.
The UAE Cabinet recently announced amendments to make it easier for expats to retire in the country, and long-term residents are all for it.
As per the amendments, residents will be eligible for the retirement residency if they fulfil one of the following criteria: A single property or more than one property worth Dh1 million (evaluation to be carried out by the related entity in each emirate), or a bank deposit of no less than Dh1 million, or an active income of no less than Dh180,000 per annum.
Sariha Delli, an American expat who moved to the UAE in the February this year, said: "I just love it here."
The mix of nationalities and religions are an example of people living in harmony, she added.
“We have left America to retire here. I am a practising Muslim and the country is Islamic with mix of modern beliefs,” she said.
Delli's husband, 65, owns two companies in the US. They haven't started a business here, but are planning to in the near future. Their earnings comes from the two companies back home.
“We have bought an apartment in Sharjah and spent around $10,000 every month,” Delli said.
Meanwhile, Mukhtar Khalid, a Pakistani expat who has been staying in Dubai for the past 12 years, said he has been impressed by the lifestyle and environment.
"This law amendment is something I have been waiting for,” he said.
Khalid works as a manager at an aviation firm in Jafza. What sticks out to him about the UAE is that it is a friendly country with a high tolerance rate.
"I did not find anything intolerant in this country and wasn’t discriminated with anything,” he said.
Khalid, who owns an apartment in The Green Community, said this move will benefit several older people. The only concern is the health insurance.
"I will apply for the retirement visa, considering the offers and schemes, over health insurance,” he said. “There are many people from the West and Australia who would eagerly want to retire here, but the health insurance part concerns us."
Another expat from India, Rema Menon said that this news is a treat to many older residents in the UAE. “This is an excellent option for safety and security for the people considering the UAE’s stand in benefiting residents' life.”
Menon, who moved to Dubai in 1998 and began her career as a counsellor at the Indian High School before starting her own counselling firm, said that the country is secure and residents are comfortable with the rules.
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“This is a great place to retire and the leadership of the country is constantly looking out, making the lives of the residents happy and also boosting the economy,” she said.
Shaheenoor Shah, director of E-First Global, a business set-up and residency processing organization, said the latest announcement will provide clarity to those planning to retire in the UAE.
"It will also help us to advise them,” she said. "This reflects the UAE Government’s vision to have a diverse mix of residents in the UAE,”
ayaz@khaleejtimes.com
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