A sun-kissed city, Dubai provides high living standards, making it a haven for retirees. Dubai is a perfect place to buy apartments in the UAE to receive the retirement visa.
Why Dubai?
The city is known for its hospitable, international population and a full range of services to simplify people’s life. It is one of the safest and most rapidly growing cities in the world.
Healthcare system in Dubai
Another crucial factor in healthcare. For older people, this is one of the central reasons, particularly amid the pandemic. Fortunately, Dubai has one of the world’s most advanced healthcare systems.
However, healthcare services depend on insurance. For example, tourists are provided with basic medical care in a public hospital. Meanwhile, the minimum annual price for the insurance enough to apply for the retirement visa is AED 4,500 ($1,225). It depends on age and health status. Without question, these costs will pay off.
Eligibility criteria
To apply for the retirement visa, foreigners must be at least 55 years of age and receive the status of a retiree in their country of residence.
At least one of the following four criteria must be satisfied:
- Monthly income of AED 20,000 ($5,500) from pension or previous employer
- Savings in the total amount of AED 1 million ($275,000) in a three-year fixed term deposit
- A mortgage-free property worth AED 2 million ($550,000) and over
- Savings and property combinedly worth at least AED 2 million ($550,000)
Applicants may sponsor their children and spouse. The number of children to sponsor is unlimited. All members of the family must have valid medical insurance coverage in the territory of the UAE.
Job opportunities for retirees
Many retirees do not lead an idle life. For these people, Dubai offers plenty of career possibilities. The elderly can work or do business if they like. However, it is noteworthy that the retirement age for private-sector workers in the UAE is 65 years. Still, the age restriction may be further extended, depending on the activity type, the person’s qualification, and competence, whichever is essential for the employer.
Dubai is a safe place
The UAE is considered one of the safest countries across the globe. According to Global Finance, it is the second safest country out of 134 countries in the rating. The rating is based on three factors – personal safety, natural catastrophes, as well as terrorism and war. It also factors in risks attributable to the pandemic. To overcome Covid-19, the UAE took stringent preventive measures to protect its people. In addition, it has become the world’s most vaccinated country with its advanced healthcare system.
Are there any drawbacks?
The major disadvantage of living in Dubai is high living costs. For this reason, the emirate invites mainly wealthy foreigners who are ready to pay for comfort and safety.
The second thing you may not like is the weather. Dubai is one of the hottest cities in the world. However, sometimes, this desert climate type is what some retirees need for medical reasons.
And the other thing to keep in mind is the difference in mentality. Islam is the ruling religion in the country. Therefore, there are restrictions on the purchase and consumption of alcohol, on public expressions of feelings and on revealing clothes. Before visiting it, it is reasonable to learn the local rules.
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