The Cabinet of the UAE has announced a new law on residency visas for retirees. From 2019, foreign nationals looking to retire in the UAE will be able to obtain a renewable five-year residency visa, according to the announcement by the Cabinet. General conditions state that the new visa will be available to applicants over 55 who meet the following eligibility criteria, among other yet unannounced conditions such as investment in a property worth a minimum of two million AED in the UAE; or financial savings of no less than one million AED; or active income of at least 20,000 AED a month. It is expected a list of additional requirements and further visa conditions will be announced closer to the implementation date of the law.