The UAE cabinet on Sunday approved a new five-year visa for expat retirees aged over 55 years.
Retired expats aged over 55 can avail of the new visa once they fulfil one of three criteria: own a real estate investment of AED 2 million, or have financial savings of not less than AED1 million, or proof of income above AED20,000 per month.
The cabinet adopted the plan to introduce the new visa from next year.
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