The UAE has become home to many, however, with no form of permanent residency avail­able to foreign nationals, it can be a challenge to reside in the country without employment. Sammy Dallal / The National
The UAE has become home to many, however, with no form of permanent residency avail­able to foreign nationals, it can be a challenge to reside in the country without employment. Sammy Dallal / The National
The UAE has become home to many, however, with no form of permanent residency avail­able to foreign nationals, it can be a challenge to reside in the country without employment. Sammy Dallal / The National
The UAE has become home to many, however, with no form of permanent residency avail­able to foreign nationals, it can be a challenge to reside in the country without employment. Sammy Dallal / The Nat

Retiring in the UAE: A guide on how to live and work here past the retirement age


  • English
  • Arabic

For the estimated 8.34 million expatriates currently living and working in the UAE, a growing number are approaching retirement age and are curi­ous about the options open to them if they decide to stay in the Emirates.

The UAE has become home to many, however, with no form of permanent residency avail­able to foreign nationals, it can be a challenge to reside in the country without employment. Under current regulations, the age of retirement for expatriate workers is 65 with some jurisdictions imposing restrictions on visa applicants as early as 60.

The good news is that measures can be taken to allow legal residency for retirees who are keen to continue working beyond retirement or for those who are looking to lead a more leisurely lifestyle. These include:

Business investment visas

A foreign national is eligible for an investor visa in the UAE if they incorporate their own business or invest in one; this allows retirees to either relax in their golden years or continue working during retirement. This visa involves varying levels of financial commitment, which depend on the location of the business and the minimum investment threshold required. In the UAE’s free zones, for instance, investors have a vast choice of company set-ups, including “flexi-desks” where individual units can be leased rather than an entire office space.

A retiree can also choose to incorporate a company in the mainland which would give them full access to the local market and flexibility to do business across the UAE. Depending on the structure of the company, however, they may be required to have a local sponsor or a service agent involved.

Regardless of the jurisdiction chosen, the controlling authority will issue a business licence which reflects the type of activity the company will be involved in, eg a professional licence will be given to craftsmen, artisans and the like.

With a valid business licence, foreign investors can then apply for a work and residency visa. The application process depends on the selected jurisdiction and will result either in a sponsorship by the governing authority, or through a self-sponsorship mechanism.

The visas are valid for three years in most free zones, and two years in other jurisdictions, and unlike many other visa types, a continuous stay outside of the UAE for six months or more will not invalidate the visa.

Property-based investment visa

If a retiree owns property that has an initial purchase price of Dh1 million or above, they are eligible for either a two-year investor permit in Dubai or a six-month renewable investor visa in other emirates. They can also be eligible for a visa or permit by owning multiple properties with a cumulative purchase price of at least Dh1m, depending on the location of the homes.

Remember, the property must be ready to inhabit, owned by the applicant and – if applicable – large enough to accommodate all members of the family.

A property can be mortgaged, however, to be eligible for the visa at least 50 per cent of the mortgage must be paid. Applicants must provide proof of income either from within or outside the Emirates.

Dependency visa

Retirees with an adult child working in the UAE can live here on a residence permit for dependents. While regulations for this visa type are not clearly defined and often considered on a case-by-case basis, the essential principals are a monthly salary of approximately Dh20,000 earned by the sponsor and a sufficient living space documented through an attested tenancy contract. A refundable security deposit is required from the sponsor and the visa is valid for up to one year. Both parents must be sponsored at the same time unless one is deceased or a divorce can be proven with appropriate documentation.

Additional considerations

Under UAE law, all residents must hold a valid health insurance policy. If you decide to call the UAE home after retirement, remember no national benefits are provided to expat retirees, making it crucial to have a sustainable source of income to cover your living expenses.

Nofisatu Mojidi is the relationship manager, worldwide private client practice at Fragoment UAE. With inputs from Marcin Kubarek, knowledge and content manager at Fragomen UAE

business@thenational.ae

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The specs

Engine: 2.0-litre 4cyl turbo

Power: 261hp at 5,500rpm

Torque: 405Nm at 1,750-3,500rpm

Transmission: 9-speed auto

Fuel consumption: 6.9L/100km

On sale: Now

Price: From Dh117,059

Your rights as an employee

The government has taken an increasingly tough line against companies that fail to pay employees on time. Three years ago, the Cabinet passed a decree allowing the government to halt the granting of work permits to companies with wage backlogs.

The new measures passed by the Cabinet in 2016 were an update to the Wage Protection System, which is in place to track whether a company pays its employees on time or not.

If wages are 10 days late, the new measures kick in and the company is alerted it is in breach of labour rules. If wages remain unpaid for a total of 16 days, the authorities can cancel work permits, effectively shutting off operations. Fines of up to Dh5,000 per unpaid employee follow after 60 days.

Despite those measures, late payments remain an issue, particularly in the construction sector. Smaller contractors, such as electrical, plumbing and fit-out businesses, often blame the bigger companies that hire them for wages being late.

The authorities have urged employees to report their companies at the labour ministry or Tawafuq service centres — there are 15 in Abu Dhabi.

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%3Cp%3EEncourage%20innovation%20in%20the%20metaverse%20field%20and%20boost%20economic%20contribution%3C%2Fp%3E%0A%3Cp%3EDevelop%20outstanding%20talents%20through%20education%20and%20training%3C%2Fp%3E%0A%3Cp%3EDevelop%20applications%20and%20the%20way%20they%20are%20used%20in%20Dubai's%20government%20institutions%3C%2Fp%3E%0A%3Cp%3EAdopt%2C%20expand%20and%20promote%20secure%20platforms%20globally%3C%2Fp%3E%0A%3Cp%3EDevelop%20the%20infrastructure%20and%20regulations%3C%2Fp%3E%0A
Mica

Director: Ismael Ferroukhi

Stars: Zakaria Inan, Sabrina Ouazani

3 stars

Panipat

Director Ashutosh Gowariker

Produced Ashutosh Gowariker, Rohit Shelatkar, Reliance Entertainment

Cast Arjun Kapoor, Sanjay Dutt, Kriti Sanon, Mohnish Behl, Padmini Kolhapure, Zeenat Aman

Rating 3 /stars

The specs: 2017 Porsche 718 Cayman

Price, base / as tested Dh222,500 / Dh296,870

Engine 2.0L, flat four-cylinder

Transmission Seven-speed PDK

Power 300hp @ 6,500rpm

Torque 380hp @ 1,950rpm

Fuel economy, combined 6.9L / 100km

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Key facilities
  • Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
  • Premier League-standard football pitch
  • 400m Olympic running track
  • NBA-spec basketball court with auditorium
  • 600-seat auditorium
  • Spaces for historical and cultural exploration
  • An elevated football field that doubles as a helipad
  • Specialist robotics and science laboratories
  • AR and VR-enabled learning centres
  • Disruption Lab and Research Centre for developing entrepreneurial skills
GROUPS AND FIXTURES

Group A
UAE, Italy, Japan, Spain

Group B
Egypt, Iran, Mexico, Russia

Tuesday
4.15pm
: Italy v Japan
5.30pm: Spain v UAE
6.45pm: Egypt v Russia
8pm: Iran v Mexico

WOMAN AND CHILD

Director: Saeed Roustaee

Starring: Parinaz Izadyar, Payman Maadi

Rating: 4/5

Ferrari 12Cilindri specs

Engine: naturally aspirated 6.5-liter V12

Power: 819hp

Torque: 678Nm at 7,250rpm

Price: From Dh1,700,000

Available: Now

The candidates

Dr Ayham Ammora, scientist and business executive

Ali Azeem, business leader

Tony Booth, professor of education

Lord Browne, former BP chief executive

Dr Mohamed El-Erian, economist

Professor Wyn Evans, astrophysicist

Dr Mark Mann, scientist

Gina MIller, anti-Brexit campaigner

Lord Smith, former Cabinet minister

Sandi Toksvig, broadcaster

 

Sole survivors
  • Cecelia Crocker was on board Northwest Airlines Flight 255 in 1987 when it crashed in Detroit, killing 154 people, including her parents and brother. The plane had hit a light pole on take off
  • George Lamson Jr, from Minnesota, was on a Galaxy Airlines flight that crashed in Reno in 1985, killing 68 people. His entire seat was launched out of the plane
  • Bahia Bakari, then 12, survived when a Yemenia Airways flight crashed near the Comoros in 2009, killing 152. She was found clinging to wreckage after floating in the ocean for 13 hours.
  • Jim Polehinke was the co-pilot and sole survivor of a 2006 Comair flight that crashed in Lexington, Kentucky, killing 49.
RESULTS

6pm: Al Maktoum Challenge Round-2 – Group 1 (PA) $55,000 (Dirt) 1,900m
Winner: Rajeh, Antonio Fresu (jockey), Musabah Al Muhairi (trainer)

6.35pm: Oud Metha Stakes – Rated Conditions (TB) $60,000 (D) 1,200m
Winner: Get Back Goldie, William Buick, Doug O’Neill

7.10pm: Jumeirah Classic – Listed (TB) $150,000 (Turf) 1,600m
Winner: Sovereign Prince, James Doyle, Charlie Appleby

7.45pm: Firebreak Stakes – Group 3 (TB) $150,000 (D) 1,600m
Winner: Hypothetical, Mickael Barzalona, Salem bin Ghadayer

8.20pm: Al Maktoum Challenge Round-2 – Group 2 (TB) $350,000 (D) 1,900m
Winner: Hot Rod Charlie, William Buick, Doug O’Neill

8.55pm: Al Bastakiya Trial – Conditions (TB) $60,000 (D) 1,900m
Winner: Withering, Adrie de Vries, Fawzi Nass

9.30pm: Balanchine – Group 2 (TB) $180,000 (T) 1,800m
Winner: Creative Flair, William Buick, Charlie Appleby

UAE currency: the story behind the money in your pockets
FIXTURES

Saturday
5.30pm: Shabab Al Ahli v Al Wahda
5.30pm: Khorfakkan v Baniyas
8.15pm: Hatta v Ajman
8.15pm: Sharjah v Al Ain
Sunday
5.30pm: Kalba v Al Jazira
5.30pm: Fujairah v Al Dhafra
8.15pm: Al Nasr v Al Wasl

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%3Cp%3E%3Cstrong%3EDirector%3A%20%3C%2Fstrong%3ERobert%20Lorenz%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%3C%2Fstrong%3E%20Liam%20Neeson%2C%20Kerry%20Condon%2C%20Jack%20Gleeson%2C%20Ciaran%20Hinds%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E2%2F5%3C%2Fp%3E%0A
The Bio

Name: Lynn Davison

Profession: History teacher at Al Yasmina Academy, Abu Dhabi

Children: She has one son, Casey, 28

Hometown: Pontefract, West Yorkshire in the UK

Favourite book: The Alchemist by Paulo Coelho

Favourite Author: CJ Sansom

Favourite holiday destination: Bali

Favourite food: A Sunday roast

Libya's Gold

UN Panel of Experts found regime secretly sold a fifth of the country's gold reserves. 

The panel’s 2017 report followed a trail to West Africa where large sums of cash and gold were hidden by Abdullah Al Senussi, Qaddafi’s former intelligence chief, in 2011.

Cases filled with cash that was said to amount to $560m in 100 dollar notes, that was kept by a group of Libyans in Ouagadougou, Burkina Faso.

A second stash was said to have been held in Accra, Ghana, inside boxes at the local offices of an international human rights organisation based in France.

Company Profile
Company name: OneOrder

Started: October 2021

Founders: Tamer Amer and Karim Maurice

Based: Cairo, Egypt

Industry: technology, logistics

Investors: A15 and self-funded 

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MOST%20POLLUTED%20COUNTRIES%20IN%20THE%20WORLD
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Analysis

Members of Syria's Alawite minority community face threat in their heartland after one of the deadliest days in country’s recent history. Read more

F1 The Movie

Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem

Director: Joseph Kosinski

Rating: 4/5

The specs: 2017 Dodge Ram 1500 Laramie Longhorn

Price, base / as tested: Dhxxx
Engine: 5.7L V8
Transmission: Eight-speed automatic
Power: 395hp @ 5,600rpm
Torque: 556Nm @ 3,950rpm
Fuel economy, combined: 12.7L / 100km

EU Russia

The EU imports 90 per cent  of the natural gas used to generate electricity, heat homes and supply industry, with Russia supplying almost 40 per cent of EU gas and a quarter of its oil. 

How to get exposure to gold

Although you can buy gold easily on the Dubai markets, the problem with buying physical bars, coins or jewellery is that you then have storage, security and insurance issues.

A far easier option is to invest in a low-cost exchange traded fund (ETF) that invests in the precious metal instead, for example, ETFS Physical Gold (PHAU) and iShares Physical Gold (SGLN) both track physical gold. The VanEck Vectors Gold Miners ETF invests directly in mining companies.

Alternatively, BlackRock Gold & General seeks to achieve long-term capital growth primarily through an actively managed portfolio of gold mining, commodity and precious-metal related shares. Its largest portfolio holdings include gold miners Newcrest Mining, Barrick Gold Corp, Agnico Eagle Mines and the NewMont Goldcorp.

Brave investors could take on the added risk of buying individual gold mining stocks, many of which have performed wonderfully well lately.

London-listed Centamin is up more than 70 per cent in just three months, although in a sign of its volatility, it is down 5 per cent on two years ago. Trans-Siberian Gold, listed on London's alternative investment market (AIM) for small stocks, has seen its share price almost quadruple from 34p to 124p over the same period, but do not assume this kind of runaway growth can continue for long

However, buying individual equities like these is highly risky, as their share prices can crash just as quickly, which isn't what what you want from a supposedly safe haven.

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