Sweeping changes to the residency status of expats in the UAE have led to the possibility of many treating the region as their medium to long term home.

The latest move by the UAE Cabinet this week saw the introduction of a significant new residency visa for those wishing to retire there.

The new residency requirements were:  

  • Have a single property or more than one property worth AED1m (the valuation will be carried out by the relevant entity in each Emirate); or
  • Have a bank deposit of no less than AED1m; or
  • Have an active income of no less than AED180,000pa.

Sheikh Mohammed said in a tweet on 9 November 2021: "We approved the conditions for granting residency to an expat retiree. We welcome everyone to our country."

With an estimated eight million expats in the UAE, what are going to be the retirement planning needs of those retiring in the region and how will it evolve the profile of the UAE as a society?

Find out more about this and other burning issues for advisers and across the financial services industry by registering to attend our International Investment Middle East Forum 2021 virtual event - which will be beamed live to the world next Wednesday November 17, from 9am-12pm (GMT UK time).

The 3rd International Investment Middle East Forum will bring together some of the industry's biggest names with a host of informative sessions from IFGL (RL360, Ardan International and Friends Provident International), Marlborough, Tilney Smith & Williamson, Finance Isle of Man and Fairway Group.

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