New Visa Scheme For Retired Expats Approved By The UAE

The UAE has approved a new visa scheme for retired ex-pats under which they can now stay in the UAE after retirement. This new visa scheme was approved on Tuesday by the Cabinet. The meeting was chaired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, it was held at the Expo 2020 Dubai. The attendees were Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai and Deputy Prime Minister and Minister of Finance, Lt. General Sheikh Saif bin Zayed Al Nahyan, Deputy Prime Minister and Minister of the Interior; and cabinet members.

The eligibility criteria for the same is:

Owning more than one property or a single property worth AED 1 million.
Or a bank deposit of not less than AED 1 million.
Or an active income of not less than AED 180,000 per year.

Other things that were discussed at the meeting were:

The Cabinet also approved a temporary license that will be used to test self-driving vehicles. This will be the next step in the technological advancement of the UAE. The UAE is the first country in the Middle East and the second globally to test self driving vehicles.

The issuance of a pilot license was also approved by the Cabinet, this license will be for the fractional bonds project. This step aims to be supporting the financial sector with advanced technologies.

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