UAE is now more expensive to live than in many parts of Europe. There are more hidden taxes Disguised as fees and charges, with promises which don't match up to 'your possible reality', (lost in translation).. a common daily occurrence in UAE.
Don't get fooled by the Marketing its all from self serving people who need more companies and individuals to move there or set up operations there. Once your money is in the country's bank accounts then you are at their whim. Access to your own funds can sometimes be tricky. Not what you expect, however is increasingly becoming more and more prevalent with those investing lower amount of money.
I lived there for over 13 years and still retain a business and many personal / professional connections in UAE at many levels which has allowed me to keep updated and follow issues there. I now choose to live in Europe, where I find overall cost of living lower than UAE. We lived a modest life there and the same again now.
Things are not rosy there and now there are fewer expatriates, and an even bigger "local" (UAE national) wage & social assistance bill to pay.
Expo 2020 can possibly be written off, so making the biggest anticipated show to be a blip due to Covid fallout.
Improvements to lower cost of living are now a dream, and reserved mainly for locals, with expatriates paying a higher percentage in costs, to subsidise the local consumption. Too many locals are used to a higher standard of living and want even more modern wealth related materialistic 'charms' trinkets' 'toys' etc. Rolex, iPhone 22 in solid gold, pimped up Ferrari etc etc..
On the forum most people still searching for the magic solution of living well and paying as little tax as possible. Yes its hands up for all.
The reality is so different and now an ever changing global platform, which is not going to get easier.
Its more a realistic question should be: of how to limit your tax exposure to a lower amount as possible and limit your compromises which effect you and your family as much as possible?
That is the more realistic compromise for many to find.
Unless you have a huge budget to set up a protected legal framework with a lot of legal verification. Such a solution will provide you with a good base to start with, however would require regular updating to keep with the changing times.
UAE will suit a percentage of people and is becoming lower down the list for many investors seeking tax beneficial solutions. Unlike 10-16 years ago when opportunities and favourable working/banking and other options were suitable. The rest of the world was also very different to what it is now.
UAE has to tow the OECD line more and more, so tax complexity and variation will come in as they want to have a stronger voice in the world, In turn they have to accept the rules imposed on everyone else who has that voice. The 1st being Tax. There are more duty levies on more and more products these days, and more to come. With their aim for diversification from oil based economy, they have to compete with the rest of the world, unlike years ago when they had many of the Aces in their deck, now the playing field is levelling out more and more.
Its going to be what suits 1 person to still remain in Europe or USA and another to want to make a move to UAE of be a digital nomad.
There is no one size for all. not anymore for the UAE.