2020 - Post Covid Retirement Options

[huja]

https://www.economist.com/middle-eas...pLKvOmj_dG_2Ok

[shri]

https://www.economist.com/middle-eas...pLKvOmj_dG_2Ok

In September Dubai announced a new residence visa for over-55s. Only the well-off need apply. Applicants must have a comfortable nest-egg or buy a property worth 2m dirhams ($540,000). The hope is that old folk who might settle in Portugal or Palm Beach will opt for the Persian Gulf instead.

Did they get the year wrong?

In September 2018, the UAE Cabinet approved a law to provide retired residents over the age of 55 a long-term visa for a period of 5 years. The visa may be renewed if the eligibility criteria is met.

For a retiree to be eligible for a 5-year renewable retirement visa, he must fulfill one of the following criteria:

invest in a property worth AED 2 million
have financial savings of no less than AED 1 million
have an active income of no less than AED 20,000 per month.


The visa is valid for 5 years with the possibility of renewing it if they meet the eligibility criteria.

From:

https://u.ae/en/information-and-serv...-uae-residents

[huja]

Have you looked into it, @shri?!

[RobRoy]

Hong Kong I hope, with longer summer periods in Europe

[shri]

Have you looked into it, @shri?!

No, but have a retirement related bookmark folder.

To be fair, I've never heard of Dubai come up in the extended group of friends who are talking about taking a year or two off to figure out where to retire.

i have a feeling it will be some sort of collective decision and completely out of my hands.

(And I think I might have misread the bit from the Economist which was not paywalled - parliament approved the law a couple of years ago and I suspect they're now getting around to implementing it)

[huja]

No, but have a retirement related bookmark folder.

To be fair, I've never heard of Dubai come up in the extended group of friends who are talking about taking a year or two off to figure out where to retire.

i have a feeling it will be some sort of collective decision and completely out of my hands.

(And I think I might have misread the bit from the Economist which was not paywalled - parliament approved the law a couple of years ago and I suspect they're now getting around to implementing it)

I too have a group of friends who are talking about a Retirement Kibbutz! We have a bunch of business people in the group but no one with any practical skills (i.e. doctors, plumbers, carpenters, etc). We were going to have a dinner meeting about the subject right as the quarantine hit.

[shri]

but no one with any practical skills (i.e. doctors, plumbers, carpenters, etc)

If thats a recommended skillset for a support group.. we're screwed.

Hopefully they are people who have people who know people...

[er2]

I too have a group of friends who are talking about a Retirement Kibbutz! We have a bunch of business people in the group but no one with any practical skills (i.e. doctors, plumbers, carpenters, etc). We were going to have a dinner meeting about the subject right as the quarantine hit.

Opening a Kibbutz in Dubai would be and interesting approach to be sure....

Also, this thread is pretty old. No one retired in the meantime?

[huja]

If thats a recommended skillset for a support group.. we're screwed.

Hopefully they are people who have people who know people...

Important to have friends who are doctors, lawyers, know how to fix shit, know how to source shit, who own a truck to haul shit . . .

At present we are a group that knows how to write decks, manage up, and delegate down.

[mrgoodkat]

Important to have friends who are doctors, lawyers, know how to fix shit, know how to source shit, who own a truck to haul shit . . .

At present we are a group that knows how to write decks, manage up, and delegate down.

If all those apocalyptic movies have taught me something, the only useful skills are either military or doctor. Nobody needs a lawyer when the Zombies are coming