It’s the perfect time to relocate your family and business to Dubai – here’s why
It’s never been easier, less stressful or more beneficial to move your business and family to Dubai. From extensive help relocating, to mouth-watering tax benefits and falling rents, the time really has never been better to pack up your bags and make the move.
Whether you’ve been mulling it over for a while or it’s not something you’ve even considered before, here are eight big reasons – business and personal – that Dubai is right for you.
First, let’s start with how it would benefit your business
If you’re relocating an established business or looking to start a new one, then you can get help from relocation experts. These companies are specialists in the real nitty-gritty of visa requirements, tax laws, business licenses, orientation, home and school searches and settling in services.
Why this benefits you
Given this is a well-trodden path, the amount of time you need to spend researching the finer details is minimal. There are now so many people with the time and knowledge to help, it’s never been easier to relocate.
Dubai’s free zones take some beating. To give just one example, last year the DMCC Free Zone was named ‘World’s No.1 free zone’ by the Financial Times’ fDi Magazine – for the third year in a row.
Whether you choose the mainland or a free zone, with the help of an experienced relocation specialist to do any heavy lifting, you can be up and running in no time.
Why this benefits you
If you’ve been worried about having to hand over part of your business just to get a foot in the door, free zones mean you have to worry no more.
Relocation is also attractive for any employees you might have: quite simply, they’ll keep everything they earn. There is no income tax. With most major countries enforcing income taxes of 30–50%, that’s quite a saving.
That’s not to say there is no tax. It’s a slight myth that the UAE is tax-free. There is corporation tax but it is only enforced for oil, gas and natural resource companies. So if you’re relocating your business, the most you’ll have to contend with is a 5% customs duty on imports.
Why this benefits you
People worry about the cost of living in the UAE, but the reality is you save far more because of what you make up through low taxation. And your employees benefit too, so it’s a win-win situation.
Fortunately, the UAE is excellent in this regard. 8.45 million expatriates reside in the UAE already, thanks in part due to the welcoming immigration policies and energetic culture.
Why this benefits you
The UAE is built for bright and bold futures; this means that people of worth to the economy are welcomed openly – far more so than is the case in certain other countries.
If your business, personal and family situation fits such a landscape you will find the immigration process to be a formality instead of a distressing uncertainty. Applicants can secure a UAE visa in less than 2 weeks or up to 8 weeks. Specialist immigration firms ensure that the visa is secured in the minimum amount of time.
When we break it down, what really makes Dubai a great place is that (compared to much of the world) it’s easy to register a property, deal with construction permits, and enforce contracts. The aforementioned free zones also make it far simpler to set up a company with the view to moving it to the mainland at a later date.
There’s also the location to bear in mind: Dubai sits at a geographical crossroads – a link between the Middle East, the rest of Asia, Europe and Africa. It makes doing business with companies in these regions far easier.
Why this benefits you
It’s never been easier to do business in the UAE, so irrespective of whether you’re planning on starting a business or moving an established one, there are few interferences or complications and it’s also a great base from which to expand your global outreach. After all, the UAE wants business to flourish.
Now let’s look at how making the move to Dubai would benefit your personal life
Since Dubai opened up its property market to foreign investors in 2006, the city has always had a relatively volatile market. However, compared to some of the world’s luxury hubs such as Singapore, London, Paris and New York, property is still cheap. Recent estimates from Savills indicate that a prime 2-bed apartment will set you back USD 4.5m in Singapore; while Dubai prices fluctuate more significantly on specific locations, the average residential unit price in Dubai for 2017 was a much more affordable USD 462,000. Overall, Savills place the UAE as second in terms of housing investment over the next five years.
Why this benefits you
There are real bargains to be had but these slumps don’t last forever, especially in a country with a strong but growing economy like the UAE. So if you want to buy at the bottom of the market, the time to make Dubai your home is now.
International schooling in Dubai is very good. A 2016/17 school inspection report by the Knowledge and Human Development Authority (KHDA) found that 64% of private schools offered outstanding to good levels of education. Only 3% were rated as weak.
Schools also now specialise, with many following the UK and IB curriculums and others using those from the US, India, France, Germany, Russia and Japan.
Why this benefits you
There is little need to worry about the level of education your child will receive should you make the leap to Dubai. Sure prices may seem high, but let’s not forget they are easily offset by the lack of taxation in the area.
In terms of education, KHDA estimates there are now almost as many women at university as men, with figures back in 2012 showing that 44% of students were female, compared with 56% for men. And the gap has been closing ever since.
Why this benefits you
Whether you are female and concerned about the business environment for yourself, or male and worried about the impact on your loved one or employees, these concerns are far less of an issue than they were even a decade ago.
Then there are the cultural benefits: Living in Dubai opens up the world to your family. The advent of cheap flights mean that the Egyptian pyramids are just a four-hour flight away; while the excitement of Bangkok is six hours. Meanwhile it’s a flight time of between six and eight hours to reach Europe.
Why this benefits you
Given current happenings around the world, the idea of moving your family to the Middle East may concern you. When it comes to the UAE, though, that concern is misplaced; few places in the world are safer. Furthermore, spending time in Dubai will provide you and your family with a better appreciation of not one, but many cultures, across Asia, Africa, Europe and the Middle East.
The time is now
With a welcoming environment to business and entrepreneurship, good schools, falling house prices, and an amazing location, there has never been a better moment to consider moving to the UAE, and in particular Dubai.
What are you waiting for?