United Arab Emirates based expats are to be allowed to stay for longer after retirement, Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, announced on Sunday 16 September.
Expat retirees over the age of 55 will be eligible to apply for the visa if they meet certain conditions:
- They should have investment in a property worth Dh2 million (around £410,000), or,
- They have savings of no less than Dh1 million (around £205,000), or,
- They have an active income not less than Dh20,000 per month (£4,100)
"We launched today an initiative to support the industry sector and to affirm UAE's position on the global map as an attractive investment destination that provides an integrated environment for growth and sustainability," Sheikh Mohammed said.
|RATE THIS ARTICLE|
THIS WEEK'S TOP STORIES
PAM (Private Asset Managers) and its sister website PAMonline combine to provide "...the best guide available to the leading firms in private client fund management" (FINANCIAL TIMES). PAM compares managers on a level playing field by key data such as fees and charges, minimum investment thresholds and so on.