After it was announced yesterday by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, that expats in the UAE will be allowed to stay back in the country for an extended period of time, expats are rejoicing at the news. The five-year visa will be provided to expat retirees over the age of 55 years.
The terms and conditions of the visa stipulate that the expats should have at least Dh 2 million invested in property in the country with savings of no less than Dh 1 million. Their active income should additionally not reflect less Dh 20,000 per month.
Expats in the UAE have welcomed the news saying that it demonstrates a positive shift in policy by the authorities. They said this is a blessing for people who have made the country their home for many decades and moreover will also help them in making long-term decisions. Some expats are of the opinion that they feel a sense of belonging in the country and this move will help their families stay together for a longer while. Moreover, it will also reflect positively on the economy and society in general.