Move to Dubai!
To one of the seven emirates that makes up the United Arab Emirates (UAE). It is also the name of the main city within the emirate of Dubai. Dubai’s wealth has been built on its oil industry but it has successfully diversified its economy so that today it has multiple strands supporting its fiscal strength, including tourism, real estate, financial services, health and education.
His Highness Sheikh Mohammed bin Rashid Al Maktoum is the ruler of Dubai and, together with the emirate of Abu Dhabi has veto power over certain matters of national importance in the country’s legislature. As a result of this, foreign buyers are allowed to own the freehold title to certain property in Dubai, although this is not the case in all other emirates within the UAE.
Relocation to Dubai
For a number of key reasons, Dubai has become exceptionally popular choice for relocation with expatriates.
Firstly, despite the emirate’s economic contraction, which hit the world in 2008, Dubai now has experienced a booming economy where there is an abundance of employment prospects and opportunities for strong speculation in the local property market.
The other key reason why living in Dubai is so appealing to expats is that the lifestyle locally is exceptionally good, particularly for Western expats, who benefit from a largely excellent climate, wonderful leisure facilities, relatively laid–back pace of life and good education and healthcare standards.
If you are seriously considering moving to Dubai, here is what you need to know before you move.
Working in Dubai: Tips & Facts
If an employer is relocating you to work in Dubai, you’ll want to negotiate your employment package. The cost of living in Dubai is so high that you need to take relocation costs, accommodation costs and your children’s education costs into consideration at the very least. If you’re looking for work in the emirate, you can enter on a visit visa, depending on the nation you hail from and target employers directly.
You can also look online to see which recruitment companies can assist you in finding work in the emirate. You will need a labor card and your employer will have to sponsor your visa to live and work in the emirate. If you lose your job, you will have 30 days to find another job and another sponsor or else you will have to leave Dubai. You cannot just change jobs in Dubai — depending on the level of formal education you have, this restricts the number of times you can change jobs, believe it or not!
Can I retire in Dubai?
Yes, starting from September 2020, Dubai ex-pat residents can apply for the “retire in Dubai” scheme. Under this scheme, eligible residents aged 55 and over can apply for a retirement visa that will be renewable every five years. To be eligible, you must meet one of the three requirements. To start with, the program will focus on residents working in Dubai who have reached retirement age.
Masar Al Ameen is one of the best business set up companies in the UAE, dealing with opening a business and issuing the visas for the customers. They can help you with the process all the way!
Dubai lifestyle
When talking about living in Dubai, the majority of the time, we’re talking about the City of Dubai rather than the emirate as a whole. This is where the majority of Britons base themselves in the emirate and where they find work.
The City of Dubai is also the lifestyle hub for the entire region. The lifestyle in Dubai is the one thing you won’t hear expats complaining about. Due to the heat, it is mostly limited to indoor air–conditioned activities. Nevertheless, there is plenty of entertainment of all sorts, including amazing shopping.
Read more about business Top Business Opportunities in Dubai you need to know!
From a range of theme parks to private beach clubs, from incredibly opulent shopping malls to cinema complexes and an abundance of restaurants, from indoor snowboarding to the most remarkable music festivals, Dubai really does have it all. Read about what kind of lifestyle in Dubai you can expect and how to get the most out of life in Dubai.
The cost of living in Dubai
There is good news and bad news when it comes to the cost of living in Dubai. For a quality rental flat in a desirable location, the cost of lodging can be as high as GBP 15,000 per year, which must be paid in advance. Furthermore, if you want to purchase a home in Dubai, you may have to wait years for an off–plan apartment or villa to be constructed or pay a premium for a second-hand property. If you currently own property in Dubai and want to rent it out, the good news is that you can easily get returns of 8 to 11%.
Other high–cost outlays to be mindful of, aside from housing, include education fees, which are now exorbitant at the finest schools as foreigners compete for spots. While a regulation limits yearly school fee increases to 16 to 20%, schools find creative methods to put on extras, resulting in annual school price inflation of up to 80%.
The cost of medical insurance and healthcare in Dubai is costly but the quality is outstanding. Basic grocery expenditures are reasonable and alcohol is also reasonably priced. When compared to the UK, for example, fuel and car prices are reasonable. Even with the introduction of VAT in Dubai (which is one of the lowest in the world at 5%), everyday shopping expenditures are still quite inexpensive.
Move to Dubai
With job opportunities and no income tax to pay, Dubai is a favorite place for expats and Masar Al Ameen Team is ready to guide you through the process! Let us know, when you need us.
Above, we have gone through some of the aspects that you should consider before moving to Dubai. I hope so this article was beneficial for you and soon, we will hear from you here! Share with your ideas in the comments below!
