Abu Dhabi Publishes Amount Foreigners Must Earn Yearly to Qualify for its Retirement Visa
- The Abu Dhabi Residents Office published the income and investment thresholds foreigners must meet to obtain a five-year retirement visa in the UAE
- Applicants must show at least AED 240,000 in annual income, or hold qualifying investments in real estate or fixed deposits worth AED 1,000,000
- The office listed specific documents required under each qualifying route, including bank statements, property certificates, and real estate search records
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The Abu Dhabi Residents Office has published the financial requirements foreigners must meet to qualify for the UAE's retirement residence visa, with a minimum annual income of AED 240,000 (roughly ₦106.6 million) serving as one of the key thresholds under the scheme.
According to the official guidance published by the Abu Dhabi Residents Office, the retirement visa is valid for five years and is open to foreign nationals who can satisfy at least one of three financial conditions.
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The first route requires an applicant to hold an investment worth at least AED 1,000,000, or to own one or more properties in the UAE with a purchase or market value of no less than AED 1,000,000, as assessed by the competent authority in the relevant emirate.
For mortgaged properties, a property deed is acceptable, provided the amount already paid towards clearing the mortgage is not less than AED 1,000,000 at the point of application.
The second route allows applicants to qualify through a fixed deposit of no less than AED 1,000,000, held in a financial institution inside or outside the UAE.
However, where the deposit is held abroad, it must be transferred into a UAE-based financial institution within 60 days of the residence permit being issued, unless the funds are already invested within the country.
The third route, and the one drawing the most attention, requires proof of a fixed annual income of at least AED 240,000 (roughly ₦106.6 million) or its equivalent in a foreign currency. The income source may be from inside or outside the UAE.
Abu Dhabi retirement visa: Documents required to apply
The office also outlined the specific paperwork applicants must submit depending on which route they are using.
Those applying based on a fixed deposit must provide a statement from a licensed bank confirming the deposit amount is at least AED 1,000,000 and that the funds will remain in place for a minimum of two years.
Real estate applicants need a property value certificate from the Department of Municipalities and Transport (DMT) or another authority responsible for real estate registration in the UAE. A search certificate from the same body, confirming the property is free from judicial seizure and worth at least AED 1,000,000, is also required.
For the income-based route, a bank statement showing annual earnings of no less than AED 240,000 (roughly ₦106.6 million), or the equivalent in another currency, is the primary document required.
In a related story, Legit.ng reported that Abu Dhabi had released the GPA foreign graduates need to be eligible for its 10-year Golden Visa.
Relatives eligible for Abu Dhabi residence visa
Meanwhile, Legit.ng previously reported that Abu Dhabi had named two relatives that foreigners can bring over with a residence visa.
The Green Visa is a self-sponsored long-term residence permit designed for international talents who do not need an employer to live in the UAE.
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Source: Legit.ng
