October 2nd, 2023 at 05:02 pm
Obtaining a Retirement Visa For Aruba
For anyone looking to relocate to a tropical paradise, Aruba is an ideal location with its stunning white beaches, turquoise oceans, year-round sunshine, and coral reefs.
Situated in the middle of the Caribbean Sea, Aruba is a part of the Netherlands, a country well-known for its vibrant architecture, unique landscapes, delicious food, and excellent standard of living.
How can I live in Aruba and retire permanently?
Aruba doesn’t offer either a retirement program or a retirement visa. A Dutch residency permit can be obtained in order to relocate to Aruba as an alternative to a retirement visa. Nonetheless, in order to qualify for a residence permit, you have to meet a number of requirements.
What Are the Requirements To Be Eligible For Aruba Retirement?
You have to meet different requirements to be eligible for the Aruba Residence Permit based on whether you plan to retire as an interest-rate earner or as a retiree with guaranteed income.
Guaranteed income status in retirement
In order to be considered “retired individuals with a guaranteed income,” the following requirements must be met:
- First of all, you have to be 55 years of age or older.
- You get a pension payment each month from somewhere overseas.
- You will always receive an annual salary of AWG 50,000 or more.
- Interest from an investment fund in a recognized nation is payable to you.
- The yearly interest you receive is derived from a deposit that has been made for you over a period of years.
- These deposits yield annual interest at a minimum of Afl 50,000.
The income must originate from a bank that has been approved and is based in one of the following nations:
- The Netherlands as a Kingdom
- A candidate or member of the OECD
- A member state of UNASUR
- A member state of CARICOM
- A nation in the southern Mediterranean region with whom the European Union has an association or economic cooperation agreement under the Euro-Mediterranean Partnership
- Retired or an interest-rate earner without a stable source of income
For those who are retired and do not have a guaranteed source of income, the following rules apply:
- You are an adult (those who have turned eighteen).
- You can demonstrate that you have assets, such as investments or a bank account, worth AFL 100,000 annually.
- You can demonstrate that you make AFL 100,000 a year from real estate-related leases in one of these nations.
- The Netherlands as a Kingdom
- A nation or one of the OECD’s member states or aspirant member states
- The UNASUR member state
- The CARICOM member state
Documents Needed to Get an Aruba Residence Permit for Retirement
When submitting an application for retirement in Aruba, the following paperwork must be submitted:
- The application (FORM B)
- An accounting of your earnings
- A bank account statement that includes the previously mentioned annual revenue
- Legal documentation (only necessary for initial applications)
How Long Does a Retiree’s Aruba Resident Permit Last?
Typically, residence permits are granted to either retired individuals with guaranteed income or retired individuals or interest-rate earners without guaranteed income for a period of 12 months or one year; the length of the permit is contingent upon the duration of the guaranteed income.
When the validity period ends, you can always renew it for an additional year with the same terms, provided you still meet the prerequisites.
I’m retired; is there anyone I can work with in Aruba?
No, you are not permitted to work or engage in any other activity that would increase your income as a retiree in Aruba. You will not be allowed to work in Aruba if you do not have a work permit; thus, you must obtain one in order to look for a job.
How Much Does Aruba Retirement Cost?
Although Aruba can be rather pricey, you really do get what you pay for, and the costs there are still quite inexpensive when compared to other Caribbean islands. For instance, a single person’s monthly expenses for basic utilities like heating, power, and water come to about $1100. Should you want to move with your family, the average monthly expenses, excluding rent, will come to about $3750 for four individuals.
Rent prices in Aruba are quite modest; however, prices for acquiring a house range from $4100 per m2 to $140,000 per m2.
In general, one would require about $2000 per month to live comfortably in Aruba throughout retirement.
Retirement-Specific Healthcare in Aruba
When relocating to Aruba, one thing you should be aware of is that you will be in good hands for medical crises and illnesses. Aruba boasts among the best healthcare systems in the Caribbean, as well as first-rate medical facilities.
Public healthcare covers both physical and mental health therapies and service providers offer universal coverage under the health insurance system. Aruba’s citizens can access health services at four public medical centers located throughout the island, each with highly skilled personnel, cutting-edge equipment, and contemporary labs.
Furthermore, there are a lot of private clinics in the private healthcare industry that provide emergency medical care to anyone in need.
Private medical facilities provide care for:
- Eye infections
- Ear infections
- Nose infections
- Pulmonary diseases
- Cardiovascular problems
- Gastrointestinal issues
Which Areas in Aruba Are Ideal for Retirees?
There are eight stunning places on the enchanted island, and each is superior to the others. You will therefore have access to all you require for the ideal retirement, wherever you may want to live.