United Arab Emirates
The United Arab Emirates (UAE) is a federation comprising seven emirates, situated on the eastern coast of the Arabian Peninsula. Home to over10 million residents, the UAE serves as a central hub for trade, finance, and tourism.
Among the Gulf Cooperation Council (GCC) nations, the UAE boasts the most diversified economy. Its advanced infrastructure features a modern transportation system and world-class airports, while both public and private hospitals offer high-quality healthcare, complemented by exceptional universities.
Requirements
To qualify for a UAE Retirement Visa, you need to be at least 55 years old and retired. There three primary investment options available. If you fulfill the criteria, you will be granted a renewable five-year visa.
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Demonstrate a Sustainable Income - You will need to show evidence of earnings of at least AED180,000 (around US$49,000) a year or AED15,000 (roughly. US$4,100) a month via bank statements.
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Proof of Savings - You will need to verify possession of AED1 million (approximately US$275,000) savings in a three-year fixed deposit account.
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Invest a minimum of AED1 million (around US$275,000) in UAE real estate.
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Qualifying Dependents
You can include your dependents on your application. This can be extended to include the sponsorship of spouses, children, parents and dependent siblings.
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There is no limit on the number of children that may be sponsored by the Golden Visa holder and the previous rule of 18 has recently been increased to 25, with no age limit for unmarried daughters.
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Taxation
Golden Visa holders in the UAE enjoy significant tax benefits, including exceptions from income tax, corporate tax and Capital Gains tax.
The UAE does not tax any income of any kind. By obtaining UAE tax residency you will benefit from these huge tax benefits.
Process Overview
The process is quick and effective. Initially, you will be notified that your application has been successfully completed.
If the authorities determine that you meet the requirements, you can expect to receive your UAE Retirement Residence Visa within 15 days.
Benefits
You can live and work in the UAE
Your family can join you, including your spouse,
sons up to the age of 18, and daughters no more than 21
You and your family can access high-quality healthcare
Your dependants can enrol in excellent UAE schools and universities
You can renew the visa after five years if you still meet the eligibility criteria
Summary
The UAE has unrivaled tax benefits and it is the go to choice for those looking to save on their tax liabilities.
In addition, the recent changes to the qualifying criteria for families has seen a huge increase in enquiries due to the increased flexibility.
With a very low cost entry point and excellent investment options, this programme remains a very unique offering with unparalleled benefits.