5 Years UAE Visa announced for Retire Expats

UAE Cabinet just announced the 5 years long-term UAE residence visa option for retire UAE expats which will bring more certainty to life in UAE.

UAE Retirement Law:

His Highness Sheikh Mohammed chaired with UAE Cabinet in which they approved a law that would allow UAE expatriates to stay on in the country long after they retire.

The UAE Retire law will be in effect as of 2019. 

UAE Cabinet and HH Sheikh Mohammed 

5 Years UAE Long-Term Residency Visa for Expatriates after Retirement: 

Expats retirees over the age of 55 years will get 5-year UAE visa, with the possibility of renewal.

UAE 5 Years Visa Requirements:

To qualify for the special UAE long-term residency visa, an expatriate retiree should have an investment in a property worth 2 million AED, or financial savings of no less than 1 million AED or having an active income (salary) of no less than 20,000 AED per month.

Cabinet passed few more decisions which we stated below:

FEWA Industrial Sector Electricity Tariff Reduction:

1: The initiative introduced a reduced tariff for FEWA electricity consumption for the industrial sector, to be in effect as of quarter four (Q4) of 2018.
2: Large factories will be supported by reducing the electricity consumption charges by 29% (per cent), while the small and medium factories will have reduced fees by 10% (per cent) to 22% (per cent), in addition to waiving the service connection fees for new factories.

One Day Court: 

Launching of the "one-day court" system will provide the fastest and most efficient services to UAE community.
The "one-day court" will also contribute to speeding up the ruling of minor criminal offences.

UAE-RUSSIA Visa waiver: 

The Cabinet approved an agreement between UAE and Russian Federation on the mutual exemption of visa requirements for citizens of both countries.

Other Important UAE Cabinet decisions on visas announced early this year:

1: Abolished mandatory bank guarantee for labour recruitment and replace it with a low-cost insurance system.
2: New visa facilitation procedures for visitors, residents, families & people overstaying visas adopted.
3: Approved UAE exemption of transit passengers from all entry fees for first 48 hours approved.

4: Transit visa extension for up to 96 hours for a fee of just 50 AED.   

5: New 6 months visa introduced for job seekers who overstayed their visa but wish to work in United Arab Emirates
6: 10 years visa for special professionals such as doctors, engineers, specialists working in medicine, science, research and technical fields.
7: Approved 5 years visa for UAE students and 10 years visa for "exceptional" graduates.