Retirement in Dubai
Dubai, an oasis for retirees? With its security, tax advantages, quality real estate and year-round sunshine, the small emirate has many assets to attract retirees. But is it really that easy to move there when it's time to retire? And what other advantages can Dubai offer our senior citizens? In the rest of this comprehensive guide, we'll tell you everything you need to know about retiring in Dubai!
Understanding the Dubai retirement visa
Financial requirements for obtaining a visa
To obtain a retirement visa for Dubai, a number of conditions must be met, starting with financial requirements. Between investments and regular, stable income, it's best to be sure you're on the right track if you want your retirement project in Dubai to be a success.
Stable monthly pension: a regular source of income
To be eligible for a retirement visa in Dubai, you must be at least 55 years old at the time of application. In addition, you must meet one of the 4 financial criteria set out below:
- Option 1: AED 20,000 (about 4,700 euros) in monthly pension income
- Option 2: AED 1 million (approx. €273,000) savings in a 3-year fixed deposit
- Option 3: AED 2 million (approx. 545,000 euros) in real estate, unmortgaged
- Option 4: AED 2 million (approx. 545,000 euros) in the form of a 3-year fixed deposit and a mortgage-free property.
3-year fixed-term investment: securing your stay
One of the sine qua non conditions for obtaining a retirement visa in Dubai is to deposit part of your savings in a bank account in the United Arab Emirates, for a period of 3 years.
It's a kind of forward investment that will prove to the authorities that you have the necessary funds in your bank account to support yourself. The same type of conditions apply if you wish to move to the United States or the United Kingdom.
The government wants to make sure that you can meet your financial needs and that you won't be a burden on society.
Investing in real estate in Dubai or the Emirates
Another way to secure your retirement in Dubai is to have invested or to invest in real estate. The UAE, and Dubai in particular, require an investment of at least AED 2 million in real estate. These properties must not be mortgaged.
It is possible to accumulate several properties, apartments or villas, to reach 2 million dirhams. It's up to the retiree to decide whether to rent or live in the property.
Investing in property in Dubai offers a number of advantages:
- It is possible to take advantage of payment facilities, with the promoters' interest-free payment plans.
- No tax on capital gains or rents
- Rental demand is up sharply.
- It is possible to make tax-free lifetime gifts to children in Dubai
Merging investments: mixing savings and retirement
A final option is to mix the two: savings and investment. In fact, you can prove that you have 2 million AED, the equivalent of 545,000 euros, part of which is invested in a bank account with a fixed term of 3 years, and the other part in real estate. This allows you to diversify your sources of income!
Why choose Dubai for your retirement?
A dream life within reach
A melting pot of cultures
In Dubai, over 200 nationalities live in perfect harmony. On every street corner, you can come face to face with people from a totally different culture to your own!
Naturally, Muslim culture predominates, whether in the festivals celebrated(Ramadan, Eid), the traditional dress of the local population or even the official language (Arabic and English). But Dubai is a very open city, and people in skirts or jeans and T-shirts can mix with those in traditional dress or suits.
Outdoor activities and adventures: enjoying the sun all year round
One of Dubai's other advantages is its year-round sunshine. Indeed, in the Emirates, the weather is warm and sunny every day. Average temperatures range from 20 degrees in January to over 40 in July, with an average of almost 12 hours of sunshine a day!
As a result, you can take part in a wide range of outdoor activities. Whether it's jet skiing, desert walks, yacht cruises, getting lost on hiking trails or swimming in the sea, you'll have plenty of time to enjoy yourself.
Peace of mind: a secure city
Another essential aspect of a successful retirement is security! Dubai is a very safe city. It's one of the safest cities in the world, no matter which ranking you consult. You can wear designer clothes or jewelry without fear.
In Dubai, there are no physical assaults or snatchings. It's possible to wear jewelry in public with peace of mind. And in the very rare case of theft, the perpetrators are usually caught immediately and the goods returned to their owners.
Medical excellence
Superior care: state-of-the-art hospitals and clinics
One of the top priorities for senior citizens is access to healthcare. In Dubai, there are many state-of-the-art hospitals, with access to the latest medical technology and the best doctors in the world.
Dubai American Hospital,Dubai Hospital,Rashid Hospital, the Medcare network and NMC are just some of the establishments that will be able to welcome you night and day to accompany you in your retirement and help you with your care if the need arises.
These establishments are modern and perfectly equipped, attracting many world-renowned doctors. Ultimately, this helps place the small Emirate at the center of the map of countries with the best healthcare systems in the world.
Whether you need oncology, cardiac or cosmetic surgery, or access to a general practitioner, dentist, chiropodist or other specialist, you'll always find a first-class contact.
Health coverage: navigating the insurance system
The health insurance system in Dubai is managed by the Dubai Health Authority. The first thing you need to know is that health insurance is compulsory! All residents are required to have one, whether you buy through your employer or individually (which is more likely to happen if you're retired).
In terms of price, there are many options available. Prices range from a few dozen euros per month to several hundred euros at most, depending on your medical situation and age.
The least expensive insurance plans provide minimum coverage for basic care. This includes emergency care, medication and other standard consultations. Of course, there are several insurance companies to choose from, so you can take advantage of the competition to find the best cover at the best price!
Once you've been officially insured by a local organization, you'll receive a health insurance card at home. This is similar to the French "carte vitale". You'll need to present it to your GP each time you have a consultation, which will then enable us to issue an invoice and start the reimbursement process!
It's often possible to benefit from third-party payment. In this case, you don't even have to pay in advance, whether for treatment or even medication.
International medical staff: barrier-free communication
As explained in Dubai, nearly 200 nationalities live in harmony. And to be at the top of the global healthcare system, Dubai is constantly recruiting the world's best professionals. As a result, you can be accompanied by doctors from all over the world.
Rest assured, communication is very simple, as everyone is perfectly fluent in English. You can also ask to be seen by a French-speaking doctor. There are many French-speaking doctors in Dubai, particularly of French and Lebanese origin.
Comfort and ease
Modern services and deliveries: everything at your doorstep
We've already mentioned it, but in Dubai, the emphasis is on simplification. Everything is done to simplify your life, and this includes the digitization of services. Whether you're looking to invest in real estate, open a bank account, pay your bills, take public transport or work, everything can be done very easily...
When you're retired, that's a real plus! You can easily be accompanied by dedicated and competent staff, you can quickly get in touch with a doctor or hospital if the need arises, and much more, so you can live your life with peace of mind.
Added to this, ultra-modern delivery services. One order and everything arrives at your door within 24 hours, sometimes even less. It's ideal, because it means you don't have to travel, and you can continue to enjoy your day with family and friends.
Shopping paradise: from traditional souks to shopping malls
Dubai is a shopper's paradise. Here, a mix of traditional souks and shopping malls gives you the chance to stroll through some of the world's biggest and most beautiful spots, before wandering the streets bustling with local market vendors.
There are several traditional souks in Dubai, the first of which is the Gold Souk in Deira. Also in Deira, you'll find the covered souk, where you can buy incense and spices. On the Bur Dubai side, you'll find the textile souk, dedicated exclusively to fabrics and clothing. Finally, why not try the spice souk, known to attract many travellers and chefs from all over the world.
What about shopping malls? The Dubai Mall, next to the Burj Khalifa, is Dubai's largest shopping mall, with almost 1,150 shops, a huge aquarium and an Olympic ice rink. The Mall of the Emirates is also well known, not least because it houses a ski resort.
Other malls include City Walk Mall, Mall Dubai Marina and Dubai Outlet Mall. Several large malls are currently under construction in Dubai, to cope with the growing population which tends to clog up the malls at weekends and during vacation periods.
Accessibility and links
Global air hub: Dubai International Airport
Dubai International Airport (DBX) is a major strategic transportation hub, providing access to virtually any destination... in the world. In fact, it serves more than 260 destinations in over 100 countries! Every year, millions of people travel to or through these destinations. In 2022 alone, 66 million people travelled there.
On site, you'll find every comfort you need. Ultra-modern facilities, world-class services, hotels, clean and tidy lounges, attentive staff...Dubai International Airport is ranked as the 17th best airport in the world in 2023 by the prestigious Skytrax World Airport Awards.
Dozens of flights reach Europe every day. This means that friends, families and grandchildren can easily travel to Dubai to visit their grandparents. They can also make the trip in the opposite direction, enjoying the comfort of one of the world's leading airlines, Emirates.
Strategic crossroads: linking East and West
Dubai's position as a strategic global crossroads means that the small Emirate has every interest in high-quality infrastructure! Dubai is a gateway to the West, the European Union, the United States and Canada, as well as to the East, notably India, China and Japan.
Further down the line, Oceania is also just a short flight away. In short, Dubai is at the center of the world, making it "quick" (all things considered) to reach the world's largest and most beautiful cities, whether for tourism or business.
The potential challenges of living in Dubai
Cost of living analysis
No taxes, but... Balancing expenses
Life in Dubai can be expensive, if you're not careful. But forget the preconceived notion conveyed by social networks that Dubai is only for millionaires. It's true that the city is rich, and many people live well. You'll see plenty of sports cars, sumptuous homes, etc...
But Dubai isn't all bling. On the contrary, although there are no taxes, many people live quite simply. The secret is above all to balance expenses: don't live in the city center, favour public transport, shop in "classic" stores, limit going out and eating out in Michelin-starred restaurants...
On average, expatriates estimate thata salary of around 2,500 euros is enough to live comfortably in Dubai. But again, it all depends on your lifestyle and what you like to do. Finally, if you have children, you'll need to factor in a little more, especially for school fees and ancillary activities.
A demanding climate: managing heat and humidity
In Dubai, the weather is warm and sunny... all year round! From June to September, you can expect average temperatures of around 40 degrees. Nights are warm and unpleasant, with temperatures dropping to around 30 degrees. In winter, from December to February, temperatures average around 25 degrees.
But in addition to the heat, it's also the humidity that can be difficult to manage, especially in summer. Because of the sea, humidity levels can be relatively high, making the atmosphere uncomfortable, almost suffocating. But there's a lot we can do to take the pressure off, starting with air conditioning!
Navigating the cultural landscape: Understanding laws and traditions
Dubai is considered a very safe country. And with good reason: the laws are very strict and the judicial system is rigorous. Penalties are strictly enforced! Many things are forbidden.
Whether in terms of safety, public morality, driving, drugs or alcohol, many aspects of daily life can be turned upside down, especially if you're a retired Western couple. But once you've got over the surprise, it's easy enough to get used to. You can easily familiarize yourself with the local laws.
Accommodation in Dubai during retirement
Accommodation options
Apartments and villas: from luxury to affordability
In Dubai, you'll find a relatively wide range of housing options, from simple studios at just over 100 - 120,000 euros to 4-5 bedroom penthouse apartments at the top of a brand-new tower costing several million. But there are also townhouse and villa-oriented neighborhoods and communities, in which townhouses sit side by side with the Emirate's finest villas.
Naturally, these homes are more expensive, and can cost several hundred thousand euros (or even more than a million). It all depends on the location, the ancillary services offered, the size of the villa, etc. Overall, accommodation in Dubai is relatively inexpensive if you take into account the quality and standing of the services on offer. Indeed, all residences will have a concierge service, swimming pool, gym, etc.
Community living: neighborhoods to suit every lifestyle
One of the many distinctive features of Dubai real estate is the "communal" way of life. Not that you'll be living with other couples and retirees, but each neighborhood seems to be tailored to a particular lifestyle. In Jumeirah Village Circle, Damac Hills, Arjan and other neighborhoods, it's mostly expatriates who settle in.
Families with children, retirees... These districts are particularly attractive for their relaxing atmosphere, far from the hustle and bustle of everyday life in the city center. Other districts are more "luxury" oriented, such as Dubai Islands or Rashid Yachts & Marina. Downtown, on the other hand, is more touristy and also attracts many young working people who don't want to be too far from their place of work.
Amenities and infrastructure: everything you need close at hand
As explained above, everything is done in Dubai to help you live a full life, very simply. Residences and communities offer a wide range of services (swimming pool, garden, children's playground, gym, lounge area, barbecue area, sports field, etc.), while all amenities are often close at hand! You'll find shops, restaurants, schools and even medical centers just a few minutes' walk or drive away, no matter which neighborhood you're in. Perfect for retiring in Dubai!
Conclusion: retirement in Dubai is a good idea!
