Wanting to settle with your old buddies or travel with them post retirement Dubai is offering a special visa for those looking for retirement escapes.
Under the programme, anyone above the age of 55, foreigners and expatriates, can live in Dubai for five years. To be eligible for application you will also have to covered by a valid UAE health insurance.
Dubai being Dubai, certain obvious financial criteria have to be fulfilled if you want to 'retire' here for five years. You've got to have deep pockets. You must have a minimum of AED 20,000 or INR 4.1 lakh income per month, or a minimum of AED 1 million or INR 2.5 crore savings, or AED 2 million or INR 5 crore worth of property in Dubai. Or a combination of the second and third criteria have to be met which should be valued at a minimum of AED 2 million.
The application process, which takes around 15 days, will be made available only for Dubai expats. Later, it would be open for others as well. After a period of five years, the visa can be renewed online if all the criteria continue to be met.
Once you are there, you can work independently, or as an advisor or board member to various companies.