UAE will issue visas to retirees
December 21, 2021
3 minutes read
Ruler of Dubai and Vice President of the United Arab Emirates, Sheikh Mohammed bin Rashid Al Maktoum, announced in his tweet that the government has approved the issuance of long-term visas for retirees. Individuals, who own real estate in the UAE worth 270,000 USD will be able to take part in the new program. Also, pensioners who have a deposit of 270,000 USD or annual income of 49,000 USD and more are eligible to apply.
The 5-year visa was first issued to retirees in 2018. Previously, the residence permit in the UAE was only available to those, who had already lived in the Emirates before retirement.
The UAE government also announced that a 5-year resident visa will be issued to foreign employees of multinational corporations. According to the vice-president of the Emirates, this initiative will contribute to the growth of professionals and talented people around the world. In addition, a special website has been created for companies to apply for visas for their employees.
More opportunities for foreigners
Like other Gulf states, the United Arab Emirates is ready to welcome wealthy foreigners to the country. The UAE didn't provide citizenship or even free business opportunities in the past. In January 2021, the state government adopted amendments to the citizenship law, allowing certain categories of foreigners to obtain a UAE passport. In September, the Green Visa was launched, allowing investors and talented foreigners to stay in the country under their own funding. The conditions for obtaining the Golden visa have also changed- doctors, programmers and other professionals can now apply for it.
In November, Saudi Arabia announced that it would grant citizenship to talented and highly qualified foreigners, which has caused a stir. In June, Oman launched a residence by investment program that allows foreigners to reside in the state for 10 years. Since 2020, Qatar has also been providing the right of long-term residence to foreigners, investing in the country from 200,000 USD.
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