Monday, March 4, 2024

UAE Announces 5 Year Residency Visa in Just Rs. 55,000

The United Arab Emirates (UAE) has unveiled a pioneering 5-year residence visa priced at 720 dirhams which is around 55,000 in Pakistani Currency, aimed at enhancing accessibility for international travelers seeking extended stays for various purposes like tourism, work, or investment. This initiative is managed by the Federal Authority for Identity, Citizenship, Customs, and Ports Security and is specifically tailored to benefit foreign residents aged 55 and above, recognizing their valuable contributions.

To qualify for this visa, certain criteria must be met. Eligibility hinges on a minimum of 15 years of service, financial prerequisites, and property ownership amounting to at least 1,000,000 UAE dirhams. Retirees eyeing this visa must demonstrate a fixed annual income of 240,000 UAE dirhams.

The fee structure for the visa encompasses several components, including a residence permit fee, knowledge fee, innovation fee, and an in-country fee. This comprehensive approach simplifies the residency process and presents the UAE as an enticing destination for individuals seeking prolonged stays.

This visa program signifies the UAE’s commitment to fostering a welcoming environment for expatriates and retirees, recognizing their contributions and offering an avenue for them to continue their connection with the country over an extended period. By catering to the needs of a specific demographic – those aged 55 and above – the UAE not only acknowledges their significance but also opens its doors wider to individuals seeking extended sojourns.

Moreover, the financial and property ownership prerequisites underline the UAE’s intent to attract individuals who can potentially contribute to the country’s economy and society. The comprehensive fee structure not only streamlines the application process but also ensures that those applying for the visa are invested in the country’s growth and innovation.

Related Articles

Latest Articles