Case Study: Moving to the UAE

The UAE is one of the most exciting and dynamic nations in the world and it is currently a hugely popular destination for expatriates looking to relocate. With such unique opportunities and year-round sunshine, it isn’t hard to see why so many individuals, families and companies want to create a base in this accessible part of the Middle East region. At EER we know all about moving to the UAE and what are the key things to know before you take the leap. To help potential residents get an idea of what to expect we filmed another case study with PCD Club where our Managing Director and co-owner Marie O’Neill sat down with PCD and Jerry Parks, Partner at Taylor Wessing in Dubai to chat about immigration, schools, property and visas in the UAE.

Example Scenario: A French retail entrepreneur wants to move to the UAE with his young family

Case Study Overview: French entrepreneur Pierre Bernard (50) is no stranger to Dubai having holidayed there many times in the past. Now, having sold his retail business in France, he wants to make a permanent move to the UAE with his wife Elise (35) and two young children (5 and 2). He also has two older children from a previous marriage who are residents in France. Though currently not working, Pierre is looking at investing in new retail ventures in the GCC. He needs advice on buying a property, or land to develop, as well as on UAE visas, setting up a business and schools for the children.

Assets: Pierre sold his retail business for 30 million Euros

Marie: Currently there is a very high demand from HNW entrepreneurs, especially in Europe, who are interested in moving to the UAE. They recognise the potential of the UAE market and its unrivalled connections to the wider GCC and Middle East region. The UAE Government has consistently worked to incentivise inbound international talent, so there are plenty of options available for individuals who want to relocate their business and their family to the UAE. For entrepreneurs like Pierre, there are a few key points to take note of when it comes to selecting the right options to suit their needs:

• What are his business goals? Will he be looking to set up an entity or work in more of a consultancy capacity?
• One of the main visa options would be the Golden Visa. This can be secured for individuals who either purchase a property worth at least AED 2 million or who deposit at least AED 2 million into a fixed deposit account for two years
• The benefit of a Golden Visa is that it lasts for 10 years and you can sponsor your dependants for the same length of time
• If he wants to set up an entity and have his visa under that, he would most likely get a two-year renewable residency visa
• Our team can work with him to fully understand his goals and therefore advise on the best option. They can also assist with all of the necessary documentation gathering and attestation in their home country for the whole family and oversee the visa process, which will typically take around two to three weeks after the correct documentation has been collected
• Schooling will be a priority for the young children. There are lots of fantastic private schools in the UAE, though they can get filled up pretty quickly, so we always recommend that those relocating with children research and apply as early as possible. We can advise Elise and Pierre on which schools might suit them best, especially if they are interested in a French curriculum, and how the registration and application process works. There are also a range of schools offering the UK and US curriculums as well as the International Baccalaureate
• The location of their preferred school may impact their choice of location for the property they want to buy, to ensure they have an easy daily commute.
• Property options in the UAE are incredibly varied, from city penthouses to community villas, beachfront apartments to serviced residences. We can also take him through the timelines and options available for purchasing land and developing his own home. We would look at offering options that excel in the amenities that would suit the young children, ie family-friendly communities with swimming pools, parks and playgrounds
• His dedicated Account Manager at EER will also be able to help with all of the processes associated with the move including utility connections, opening bank accounts, getting driver’s licenses, pet relocation and any shipping and/or storage of possessions that might be needed
• If Pierre decides he would like to set up an entity in the UAE, there are over 50 free zones in which to register your start up and now you can also have a 100% foreign owned mainland company, which wasn’t possible before
• In terms of the entity, we can advise on office space rentals, hiring staff, opening a corporate bank account and provide a tailored corporate governance package that will ensure he is compliant with all of the UAE regulations

If you are interested in finding out more about moving to the UAE or immigration services or relocation services across the Middle East, please get in touch with our team today on +971 (0)4 421 1819 or info@eerme.com