UAE to allow expats to retire under new five-year visa

Workers aged over 55 years can apply for the permit

UAE to allow expats to retire under new five-year visa

A new five-year visa will allow expats to retire in the UAE, the government has announced.

Workers aged over 55 years can apply for the permit as long as they met one of three criteria.

The requirements include owning a real estate investment of at least Dhs2 million or having savings of Dhs1 million.

Alternatively, applicants will need to show proof of an income of more than Dhs20,000 per month.

The announcement is significant because under current rules, expats need to leave the country within 30 days of their employment visas being cancelled.

The new visa will be launched in 2019 and will be subject to renewal.

The changes were revealed on Sunday (September 16) following a meeting of the cabinet, which is chaired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai.

Other major announcements include a reduction in electricity charges for factories in a bid to boost the industrial sector.

A "one-day court" system will also be launched to speed up rulings for minor criminal offences.

Meanwhile, hospitals will now be subject to unified national standards covering everything from medicines to patient rights.

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