RESIDENTS WHO FALL IN LOVE WITH THE UAE CAN LOOK FORWARD TO A LIFE IN THE SUN ON NEW RETIREMENT VISA

Plan to allow non-Emiratis to remain once they stop working has been welcomed,

Ziad Salloum may still be more than two decades from retirement, but the father of three worries about what the future might hold for his family.

Despite being born and raised in the UAE, the law prevents him from remaining in the country after he comes to the end of his career.

All that could now change with the announcement of a Cabinet-approved plan to allow non-Emirati retirees to stay in the UAE if they meet specific criteria.

From next year, residents aged 55 or over will be eligible for a five-year retirement visa if they own properties worth at least Dh2 million, have at least Dh1m in savings or have an income of more than Dh20,000 per month.

Yesterday, Mr Salloum, 39, a successful lawyer of French and Lebanese descent, revealed he had spent only eight years living outside the UAE.

He said he lived in Lebanon as a student and spent time in France, but that the Emirates was the only country he considered home.

“I can’t see myself going back and living in Lebanon,” the lawyer at Salloum and Partners in Abu Dhabi said. “I’m French but I never grew up in France.

“I love going to Paris and travelling the countryside but I don’t know where I would go if I didn’t have the option of staying here.”

Being brought up here and living in the UAE for decades has had the same effect on thousands of other non-Emirati residents.

And after the government’s announcement this week, many welcomed the chance to remain here after they retire.

Nikki, 45, who did not want to give her full name, said she had lived in Dubai for nine years and now ran a health and beauty company.

Born in Ireland, she also regards the UAE as her home, and would like to remain here after retiring.

“I had this conversation with a friend only [the other day], before the news came out,” she said. “I messaged her last night to say ‘we can buy the rocking chairs now’.”

The UAE remains a big draw for thousands of residents because of its great weather, tax incentives and lifestyle opportunities.

The sun shines all year round, while the UAE’s fantastic golf courses and beaches are a big draw for those planning to retire.

Despite this, Nikki has concerns about the initiative. She said the public transport system needs to be improved because many retirees no longer drive.

“That infrastructure is not here yet,” she said. “I would be very keen to see how they will do this in 10 years’ time because it would take at least 10 years to instil confidence in people and encourage them to buy property if they’ve not invested already.”

The prospect of the five-year renewable visa also worried her, she said. Relocating to another country could be difficult enough at the start of one’s retirement, and would probably become even more difficult at a greater age, she said.

“My fears are for when you hit 75 or 80 – then what happens?” she said. “At what stage will they stop you?”

The cost of health insurance is also a concern – and was one of the biggest worries shared by residents discussing the plan in a storm of posts on social media yesterday.

“It’s nice to have [the visa] as an option and know you won’t be obliged to leave,” wrote one member of the British Expats Dubai Facebook group. “The cost of medical insurance would play a major factor though.”

Many are also worried about the cost of living in the UAE, which can be substantially higher than in Europe.

“Living costs have ballooned out of control,” one person wrote. “For many it wouldn’t make financial sense to remain here even if they meet the criteria.

“Probably wiser to find somewhere with a great lifestyle and lower costs.”

Questions about the costs of living and health care were critical to consider, Nikki told The National.

“If they can get the infrastructure right and build the right type of property for ‘golden age’ people – who will, of course, contribute hugely to the GDP of the UAE – it could be very successful.

“And I do believe that they will do it. They are very quick in coming up with ideas.”

I can’t see myself going back and living in Lebanon. I’m French but I never grew up in France ZIAD SALLOUM Lawyer