In a groundbreaking move, the UAE is now welcoming international travelers with an irresistible offer – a 5-year residency visa for just Rs. 55,000 (720 dirhams). Let’s delve into the details of this initiative that aims to make the UAE a more accessible and attractive destination for extended stays.
Key Points:
- Age-Exclusive Visa: Designed for individuals aged 55 and above, the visa offers renewal options for a prolonged stay in the Emirates.
- Eligibility Criteria:
- Demonstrated loyalty and a minimum of 15 years of service, either within or outside the country.
- Financial Requirements:
- Property ownership with a combined value of 1,000,000 UAE dirhams.
- A deposit of at least 1,000,000 UAE dirhams transferred to a local financial institution within 60 days of residency issuance.
- Financial Stability for Retirees:
- Retirees require a fixed annual income of no less than 240,000 UAE dirhams, supported by a 6-month bank statement.
- Mortgaged Properties:
- Mortgaged title deed is accepted if the redemption value is not less than 1,000,000 UAE dirhams.
- Fee Structure for the 5-Year Residence Permit:
- Residence permit fee: 200 AED
- Knowledge fee: 10 UAE dirhams
- Innovation fee: 10 UAE dirhams
- In-country fee: 500 UAE dirhams
Conclusion: This initiative not only streamlines the residency process but also positions the UAE as an alluring destination for individuals seeking an extended and enriching experience. Whether for work, investment, or leisure, this affordable and extended residency visa opens new horizons for those looking to immerse themselves in the dynamic and vibrant culture of the UAE.
