Retirement in Dubai is becoming an increasingly attractive option for those seeking an alternative destination when winding down their working life.
With a tax-free economy, world-class amenities, and stellar infrastructure, the appeal of relocating to Dubai for a golden age is obvious.
From the surrounding beaches, mountains, and deserts that provide unmatched outdoor activities to the city’s many shopping malls and upscale restaurants, there is something for everyone.
With numerous transportation services and an international airport, it’s never been easier to visit friends and family from across the globe.
Retirees can look forward to experiencing the UAE’s unique culture, beautiful landscapes, and luxurious amenities every day.
Retirement Age and Pension for Expats in Dubai
Expats in the UAE must retire at 60, but they can still work without citizenship up to age 65. Unfortunately, they do not have the right to a monthly pension, even at this stage of their life.
Expatriates working in UAE are legally entitled to a one-time severance payment upon the completion of their contract. Federal Law No. 8 of 1980, known as UAE Labor Law, covers this gratuity or severance pay.
End-of-service benefits are awarded to employees upon completing their employment, reflecting their excellent work and loyalty to the company. The gratuity amount paid depends on the length of service they have worked, and it is usually settled instantly after termination.
Employers often have the option to provide benefits as a single, lump-sum payment or in installments – similar to pension payments. This allows employees to manage their finances better and plan for the future.
The employee’s payment when the contract ends depends on different factors, such as the kind of agreement between them (whether indefinite or for a fixed period) and other reasons that could lead to contract termination.
Reasons to Retire in Dubai
1. Dubai Retirement Visa for the convenience of Expats
The UAE government has recently implemented the Dubai Retirement Visa to attract foreign retirees to the country. To qualify for this visa, you must be 55 years or older. Additionally, you must fulfill one of the following criteria:
Invest in a Dubai property valued at, or above, AED 1 million.
You hold a minimum of AED 1 million in that account as financial savings.
You have a reliable source of income of at least AED 20,000 monthly from pension or investments.
The retirement visa in Dubai is a five-year tenure that can be renewed after the same period if you still check off the criteria set forth by the government.
2. For Safety
There is much to consider when deciding where to retire, and Dubai is a veritable paradise for those searching for a peaceful and safe place to spend the latter years of life. It is a city that maintains a number of laws that keep the city safe and peaceful.
As an expat, it is essential to be aware of these regulations to avoid finding yourself inadvertently breaking a rule. Some regulations are in place to discourage criminal activity, like a ban on the public consumption of alcohol or drug use.
This strict legal system that expatriates and foreign visitors need to be aware of keeps the city safe with one of the lowest crime rates in the world.
However, they can often be confusing and cause difficulties for those unfamiliar with the regulations.
3. World-class Health Care Service
Dubai is the ideal destination for retirees for many motives, not least of which is the quality of its health service.
With more than 80 world-class hospitals throughout the city and an impressive variety of private medical facilities, individuals of any age can find comprehensive health care.
Dubai also offers a large selection of pharmacies and other necessary health resources, allowing you to remain independent when it comes to your health needs.
The warm climate further draws retirees looking to escape other regions’ cold winters.
4. Diversity
Dubai is unique in many respects, particularly in its cultural diversity. From the expansive Burj Khalifa skyscraper to the bustling souk markets, Dubai offers a wide range of enticing experiences.
The city is home to individuals from over 200 countries, facilitating the creation of new and diverse cultural experiences. As such, those looking to retire may benefit from being surrounded by such a culturally rich atmosphere.
5. No Language Barrier
The unique position the city of Dubai holds in the world makes it an ideal place for foreigners wanting to retire.
The fact that English is widely spoken and is unofficially the second official language of the United Arab Emirates makes it much easier for those coming from abroad to settle down and enjoy their golden years in a place that is full of amenities, culture, and natural beauty.
6. From Luxury to Budget-Friendly Living Options
With a wide range of options for renting and buying real estate, there is something for everyone who wants to retire in Dubai.
There are numerous high-end residential districts, such as Palm Jumeirah, the Dubai Marina, and Downtown Dubai, which feature luxurious apartments and villas with world-class amenities.
On the other side of the spectrum, you can find budget-friendly areas such as Jumeirah Village and International City, which are ideal for people who want to save money while still enjoying the benefits of living in Dubai.
There are dozens of parks, stunning views, and exciting activities to explore in this bustling city, making it an ideal place for retirees of any background.
The city boasts diverse cultures and endless opportunities, from the dazzling lights of Dubai Marina to the eclectic cuisine of Deira – whatever one’s preference, there is something here for everyone.
Conclusion
Dubai is a great place to retire for any expat looking for a comfortable and convenient lifestyle.
The sunny weather, diverse culture, and luxurious lifestyle that the city offers make it an ideal destination for retirees worldwide.
With its tax-free income, low cost of living, and plenty of entertainment, Dubai is sure to provide a peaceful and enjoyable retirement for those who choose to make it their home..
