Retiring to Dubai – moving to Dubai, pensions, healthcare and other advice

Retiring to Dubai is becoming more and more popular as people realise what the city has to offer them. Buying a Dubai villa to retire to can be your treat to yourself for all those years of hard work and saving. Before taking the plunge, however, you should think carefully about pensions, healthcare and whether moving to Dubai is really for you.

Retiring to Dubai – the benefits

If you do decide on moving to Dubai then the cold and wet weather is unlikely to bother you again. From the comfort of your Dubai villa you are in the ideal position to soak up the sun, enjoy long, leisurely days and see various ailments alleviated.

Retiring to Dubai could also have financial benefits. Your savings and pension might be better off invested in the Emirate for tax purposes and a Dubai villa could prove an excellent investment. A professional tax advisor will be able to advise you on optimising your income after retiring to Dubai.

Some retirees moving to Dubai do so because they have family living there already and want to get closer to them. In addition, there are lots of activities and sights to keep you busy as well as the perfect environment for taking things easy.

Retiring to Dubai – the drawbacks

A number of retired couples find life in the UAE not to be what they expected. The culture is very different to the UK and many couples moving to Dubai fail to fully discuss the implications of retiring to Dubai.

The Arabian climate will not suit everyone and you must remember the UAE is a long way from the UK.

Problems may arise when relatives and close friends are left behind and in some cases the retiree emigrants are overwhelmed by homesickness.

Before taking the plunge and buying your retirement Dubai villa, there are a number of things you should consider before deciding whether retiring to Dubai is for you.

• Rent a Dubai villa or apartment for a few months before committing to buy. This allows you to experience living abroad and see how homesick you are.
• Visit at two different times of year if possible. You will find out what the country is like when colder and quieter and help you decide whether a Dubai villa is for you.
• If either you or your partner suffers from ill-health you will need to consider the availability and proximity of medical services.
• Think about what type of environment you want to live in and whether a thriving city is right for you.

Moving to Dubai – collecting your pensions and other information for those retiring to Dubai

If you have decided on retiring to Dubai here is a guide to some of the steps you should take before jetting off.

You should write to the Pensions Service to tell them you are moving to Dubai and give them your new address.

Personal and company pension schemes can usually be paid anywhere and it may be a good idea to transfer your pension fund abroad. This would eliminate any exchange rate risk although all such international transfers must be approved by the Inland Revenue.

Retiring to Dubai, and the incredibly high standard of living enjoyed by ex-pats there might help you make the most of your golden years. However, moving to Dubai is a big decision and one you should not rush into. Make sure you have thought everything through carefully before committing to buy your retirement Dubai villa.