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Recently, Dubai and the UAE have become the focus of international media attention. Many celebrities and influential people buy real estate in Dubai and relocate to the United Arab Emirates for permanent residence. Ex-pats choose the UAE because of the country’s stable political and economic climate, knowing they can enjoy many sunny days a year. Here, you can find the perfect balance between professional and family life.
Whether you want to move to Dubai, Abu Dhabi or another lesser-known emirate, they all offer many amenities and opportunities for foreign nationals. Emirates.Estate shares the 5 main reasons mentioned by ex-pats who opt to move to the UAE.
Content:
Why do Foreigners Move to the UAE?
Unlimited Career and Business Opportunities
Working in the United Arab Emirates will not only provide you with a high salary, but also with the fantastic opportunity to build a successful career.
Regardless of your field of activity or industry, you are most likely to find a job in the UAE if you speak English and want to work as a specialist. Major centers, such as Abu Dhabi and Dubai have actively developing economies, and always require new employees who speak the world’s leading languages to promote their businesses internationally. Dubai is rapidly becoming a global business hub and is the main business and trade point in the Middle East.
Tax Regime
The UAE does not have a capital gains tax for individuals, and also excludes several other types of taxes. A few years of work in the United Arab Emirates can put your finances in order and ensure a comfortable retirement.
Companies (excluding the banking and oil and gas sectors) are also exempt from corporate tax until June 1, 2023. According to the order adopted by the UAE Ministry of Finance on January 31, 2022, corporate taxation will be introduced in the country on June 1, 2023. This decision applies to companies outside of free economic zones (FEZ). The standard rate will be 9%.
Therefore, it is worth taking note of the exceptional tax benefits of the FEZ in the UAE, which include:
- no import duties on imported goods;
- no restrictions on property rights for foreigners;
- renewable tax holidays for 15-50 years;
- no restrictions on the repatriation of profits and capital.
High Level of Security
Security in the UAE is a top priority for the government and local authorities. Dubai is the safest city in the Middle East for both tourists and residents. Its strict laws ensure that there is almost no theft or serious crimes on the streets.
You can enjoy living in the country without fear for your safety. An indirect indicator of the low crime rate is that 42% of the inmates of the Dubai Central Prison were convicted of non-payment of debts.
The Perfect Balance Between City Life and Beach Activities
Dubai, as the epicenter of the Arab world, is one of the most sought-after international destinations for business and living. Its growth over the past 20 years has been rapid, and few other places on the planet can compete with it. Despite the desert and scarcity of natural resources, the emirate thrives on excellent urban planning and innovative technologies.
Dubai stretches along the southeastern coast of the Persian Gulf, with its urban area located between the sea and the mountains. Located in the Arabian Desert, the emirate boasts magnificent sandy beaches and luxurious ultramodern high-rise urban architecture that combine to create an impressive contrast.
You can work all day in the office here and in the evening, relax on one of the popular beaches, and enjoy the warm sea and breathtaking views.
An Affordable and Diverse Real Estate Market
Most employers provide their newly hired foreign colleagues with assistance when they relocate to the emirates, by paying their rent or providing a deposit. If you are planning to buy an apartment in Dubai to utilise as a place of residence or to rent out and receive passive income, you will be pleasantly surprised by the variety of properties available.
The real estate market offers apartments and villas with impeccable finishes, as well as penthouses, townhouses and duplexes. Most of the housing stock in the city is newly constructed. After buying a ready-made property, you can immediately move in, as the housing is sold with furniture and household appliances.
Apartments in new buildings in Dubai are also diverse. You can purchase off-plan housing in a new project at a minimum price (on average 25-30% lower than a completed one on the market), and after putting the project into operation, sell it and benefit from the price difference or live in it, enjoying first-class amenities, well-designed social infrastructure and interesting places nearby. Most developers also offer favorable conditions to purchase off-plan housing in installments.
Assistance with Buying Real Estate in Dubai
On the Emirates.Estate website, you can find a property matching the parameters you have set or receive the support of an experienced specialist. Our managers are always ready to help you pick up quality real estate in the UAE, offer advice on how to choose and sell luxury apartments and conclude a secure deal with the owner.
The catalog on the website presents the best real estate in the UAE and elite areas of Dubai. Reputable developers and trusted owners provide reliable information about real estate at competitive prices. Start searching for a property in the emirate for business or living today at Emirates.Estate!
