At what point does Dubai become worth it?

[manwithtoupe]

What kind of income should you be earning before considering a move to Dubai?

 

[troubled soul]

"earning/profit $250k a year"

Depend Person to Person.
What is your profession?
Home country tax rate?
Your income?
What are you trying to achieve?
Even If you are from a First country or third-world country?
You can give more details So I can give my honest advice for is it worth moving or not?



Considering You are running some kind of online business and having the wife of Girl Friend. Like most people on this forum, If you earning $250k a year. Then It is worth moving to Dubai. . It is my opinion. People can Agree and Disagree on this. For less than this amount You may regret moving there.
Focus on earning more or try different Tax-free countries.

UAE is a strange country, In some case paying tax in your home country cost less than Moving to Dubai.
Before making any decision, Come to Dubai and see prices and lifestyle. Check it for yourself. Do not depend on online information.
Check everything in detail.


I can give you some idea, You can live on $2000, But Depend on your lifestyle Even $200k is not enough. Here so many luxuries want to spoil you. Everything is so much expensive.


Starting From Labour to Billionaires. I can give about some idea for different people. It is my personal opinion.

1)Labour/Taxi driver/ Blue-collar worker.
- You are earning a good salary in a home country, There is no need to move to Dubai. If you are not able to find a decent job in your home country, then it is worth moving.
As an example, Most taxi drivers are from India, If they earn 10k INR in India easily, There is no need to move to Dubai for even 25K INR. It is not worth it in 2021. The very harsh work environment for Blue-collar worker here.

2)Private job/ White-collar Job
-You are looking for a job and find a good one with a Multinational Company, Dubai offers you a world-class lifestyle, Opportunity, and Safety. If you are unmarried, Dubai will be a paradise for you.
You should consider Dubai.

3) IT freelancer /web Developers/ Dropshipper
-If you are earning/profit is $250k a year. You should consider Dubai. Otherwise, you are wasting your time. Better to focus on earning more.

4) Retire People/Remote worker
- Dubai already have a visa for them It is required around $5k per month for a basic Dubai lifestyle. If you want peace of mind and a basic living lifestyle. You can get more info.

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www.visitdubai.com

Work remotely from Dubai | Business in Dubai

Live in Dubai and work remotely while enjoying resident benefits with the new 1 year virtual working program. Find out your eligibility now on Visit Dubai.

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4) Instagram Influencer /Model / Beautiful Girls
- You should Book a flight ticket as soon as possible. It is heaven for you. No place can replace Dubai in this category. Do not worry about money You can find so many sponsors here

5) Multimillionaires, Crypto rich, Forex Trader, Sportsperson, Movie Tv personality type of People
- Tax-free lifestyle. Dubai helps you to your path for Billion. or You can enjoy your wealth here. It is an Ideal Place for you. You can get anything when I say "Anything" literally mean "anything".
You save lots of tax. that money you can use to enjoy your life. so many athletics, footballers get a golden visa there. Indian movie industry (Bollywood) is literally moving to Dubai from Mumbai.
So many Bollywood celebrities are living in Dubai. It is an ideal place for them.

6)Billionaires
- It is not worth Headache. Bette to pay tax in the home country. You can enjoy Dubai life on a tourist visa. No need to go through an Investor visa/ Business setup. Never-ending rules changing and so many another headache. It may surprise you but It is the reality of Dubai. Even If if you are very greedy and cheap billionaires, You may regret to moving Dubai. Better to Some set up in the Home country for Tax Saving.


Hope this helps.
Sorry for My english

 

[Fred]

What kind of income should you be earning before considering a move to Dubai?

Depends on where you are living right now and the tax rate.

If you are coming from Western Europe tax hell countries with up to 50% income tax it' an easy calculation.

Dubai All-incl. Setup Fees 7-8k EUR
Dubai Yearly renew Fees 4-5k EUR

So if you are making 100k EUR a year and have to pay 50k EUR taxes on it you pay in Dubai only 4-5k EUR instead.

In this 4-5k EUR is everything included to run the business active. Nothing like on Malta and Cyprus where you can add some thousands for accountant, audit and potential nominee due to the public company register.

Cost of living can be the same like in your Western Europe Country if you compare apples with apples and not apples with bananas. If you are living the average joe life in Europe of course you can't live the jet set life at the same price in Dubai but you can live the same average joe life in Dubai at same cost of living.

 

[JosephLL]

2)Private job/ White-collar Job
-You are looking for a job and find a good one with a Multinational Company, Dubai offers you a world-class lifestyle, Opportunity, and Safety. If you are unmarried, Dubai will be a paradise for you.
You should consider Dubai.

I'm a nonEu pleb, tech/science guy, early hodler, with 7 years in risk management/banking/data engineering. Ideally I'd go with Fred's managed plan, partly cashing out in low 7 figures over time + I want it all to be bulletproof, so to stay&work there, cashing out slowly while being UAE tax resident for at least 5 years. However I'm a bit confused about the disparity of job salaries to life costs. Maybe I just haven't searched enough. But just plain indeed.com/glassdoor sample lookout paints me a different picture from what you've said above. For data analyst/data engineering/bank risk officers I see monthly income estimates at no more than 10000AED. That doesn't sound like good money for a white collar job?

 

[troubled soul]

I'm a nonEu pleb, tech/science guy, early hodler, with 7 years in risk management/banking/data engineering. Ideally I'd go with Fred's managed plan, partly cashing out in low 7 figures over time + I want it all to be bulletproof, so to stay&work there, cashing out slowly while being UAE tax resident for at least 5 years. However I'm a bit confused about the disparity of job salaries to life costs. Maybe I just haven't searched enough. But just plain indeed.com/glassdoor sample lookout paints me a different picture from what you've said above. For data analyst/data engineering/bank risk officers I see monthly income estimates at no more than 10000AED. That doesn't sound like good money for a white collar job?

Dear as I said depends person to person. Some millionaire like to have ferrari. Some millionaire like to use public transport.

My parents depends on me , with this salary I am not considering moving to Dubai . Even I can not sponsors my parents with salary.

Thanks

 

[andrew28fl]

Piggybacking on this thread, and want to ask about options for a lump sum investor.

Are there investment options for a person who is considering landing in Dubai with a lump sum, high 7 figures? Looks like Dubai real estate is in a slump and supply will outweigh demand for foreseeable future. Ventures such as drop shipping, FBA etc are accessible, but they are accessible from anywhere so I am not asking for those type of virtual businesses. Other than Stocks, Gold or other passive investments, does Dubai offer any LOCAL investment or business opportunities? Thanks.

 

[CaptK]

Piggybacking on this thread, and want to ask about options for a lump sum investor.

Are there investment options for a person who is considering landing in Dubai with a lump sum, high 7 figures? Looks like Dubai real estate is in a slump and supply will outweigh demand for foreseeable future. Ventures such as drop shipping, FBA etc are accessible, but they are accessible from anywhere so I am not asking for those type of virtual businesses. Other than Stocks, Gold or other passive investments, does Dubai offer any LOCAL investment or business opportunities? Thanks.

Opportunities are a plenty in the UAE, especially in tech, labour supply to the government and infrastructure sector.

Other sectors in manufacturing and agricultural (hydroponics) for things like tomatoes and salad leaves is all good investment. Plus anything to do with food security in the UAE will get a red carpet from the government.

 

[andrew28fl]

Opportunities are a plenty in the UAE, especially in tech, labour supply to the government and infrastructure sector.

Other sectors in manufacturing and agricultural (hydroponics) for things like tomatoes and salad leaves is all good investment. Plus anything to do with food security in the UAE will get a red carpet from the government.

Thanks for your answer..are there websites or other resources for someone looking to acquire an existing business? Or do such listings commonly appear in local publications?

Edit: Not sure why I haven't googled that till now, but I have round some listings. https://dubai.dubizzle.com/classified/business-industrial/businesses-for-sale/?ot=desc&o=3 for anyone else looking for something similar.

 

[CaptK]

Not really, but you can contact the ministry of food security and find out what they want to implement.

I can tell you that Aquaculture is a big thing right now.

What is your line of business or profession

 

[JackAlabama]

What kind of income should you be earning before considering a move to Dubai?

When I consider Amsterdam where I paid 300$/night for a pretty horrible hotel room just for being in the city center, Dubai has an outstanding value for your money.
I would rate it at even or even slightly cheaper than any Western European city like Frankfurt, Munich, Zurich, London, Paris and even Barcelona (which is a joke considering the dismal state of economic affairs there).
Panama for example is also more expensive when you factor in the mediocre service/quality.

You can also go to Deira for getting cheap lifestyle "fixes", and get by on 1-2k as many of the guest workers have to do. Other emirates are also cheaper.

Id budget about 5k$ for a somewhat middle class European lifestyle.

Above that, the sky is the limit which goes for any of these global cities. Even in African countries, one could spend $$$/pp for a dinner in the capital city.

 

[andrew28fl]

What is your line of business or profession

I am a software engineer. Do you think there are local business opportunities in the IT field? Do UAE based businesses look for local Software solution providers, online marketing etc.? Also, would love to hear from anyone who has explore local e-commerce opportunities, such as Amazon FBA/FBM or other similar platforms.

 

[Tamarind]

IT is mostly subcontracted to large International Corps with obligatory local gov. owned company participating as partner.

Only way to get a job is to either be part of that big IT corp or be hired by local partner for not a lot of money, since India/Pakistan developers are very cheap locally and remotely.

 

[CaptK]

I am a software engineer. Do you think there are local business opportunities in the IT field? Do UAE based businesses look for local Software solution providers, online marketing etc.? Also, would love to hear from anyone who has explore local e-commerce opportunities, such as Amazon FBA/FBM or other similar platforms.

It's sad to say that as a white European guys have an advantage in getting high paid jobs where there are more qualified Indian/Bangladeshi/ Pakistani guys.

If you look at the recruitment companies there are a plethora of positions available.

 

[troubled soul]

It's sad to say that as a white European guys have an advantage in getting high paid jobs where there are more qualified Indian/Bangladeshi/ Pakistani guys.

If you look at the recruitment companies there are a plethora of positions available.

Even Indian/Bangladeshi/ Pakistani business owner want to hire white people over their home country people and Same position , Same company White People gets more salary.
It is open secret.

 

[JackAlabama]

It's sad to say that as a white European guys have an advantage in getting high paid jobs where there are more qualified Indian/Bangladeshi/ Pakistani guys.

If you look at the recruitment companies there are a plethora of positions available.

you go where you are treated best as the nomad cap dude is openly preaching, and sadly ones color determines if you face tailwinds or headwinds.
Chinese looking asians get a lot of hate in Italy which is almost beyond my belief whereas it is better elsewhere.

the highly qualified indian etc dudes should anyway try get a job at the big european/us/canadian banks, like e.g. credit suisse in their homecountry.

https://www.business-standard.com/article/companies/credit-suisse-to-expand-in-house-workforce-in-india-with-new-pune-facility-119030800308_1.html

and try over time to move to their headquarters in europe/us/canada.

Canada is pretty open about immigration as I have had just confirmed by a lawyer there with which I was working (who is of Indian origin).