A recent National Bonds survey shows the UAE is the preferred choice for expat retirement among 37 percent of respondents.
Mohammed Qasim Al Ali, CEO of National Bonds, pointed out that people are choosing to retire in the UAE because of its visa reforms. Among the visa options that allow a longer or more permanent stay include the Golden Visa and retirement visa.
In addition, Al Ali noted, the same percentage of those polled hope to maximize their earnings to secure their future in the UAE.
Other highlights of the survey, the National Bonds Savings Index, include 78 percent of respondents saying they are planning to save and invest in the UAE.
Expat retirement plans
According to the survey, which polled more than 2,000 expats and locals, only eight percent plan to return to their country of origin. Meanwhile, a similar percentage expressed a desire to migrate to a different country. The remainder of the respondents, on the other hand, have yet to decide on their retirement plans.
On another note, the National Bonds Savings Index says 84 percent of expats believe having an emergency fund is important. A majority of this percentage intends to save to set up a business, buy a home, and secure either their own or their children’s education.
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Furthermore, Al Ali revealed that UAE residents are more inclined to save in the post-pandemic period. The sentiment is influenced by a need to prepare for unforeseen circumstances that may arise.
Additionally, the survey found that 64 percent of people are on their way towards establishing a reliable fund.
Al Ali said respondents choose to save or invest more than 20 percent of their income or even pay themselves first; before they start paying bills.
“You should deduct 10 or 20 percent for your retirement,” advised the National Bonds chief executive.
Best place to live
The UAE also ranked highly in another survey among 11,970 expats across 181 countries. The Expat Insider Survey placed the UAE as the sixth-best country for expats to live in 2022, the only nation in the Middle East to make it to the Top 10.
The UAE scored highly in most categories with its expat population appreciating its top-notch leisure facilities and easy travel and transit options. It also received high marks from 80 percent of expats polled, who believe their career prospects have improved in the UAE.
Furthermore, respondents gave the UAE a thumbs up for providing all the necessities an expat needs to transition well to their new home. These include easy visa applications and approvals, access to government services, and the absence of a difficult language barrier.
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