Living in Dubai is an interesting journey for those who want to access a tax-friendly system, job and business opportunities, advanced healthcare, and an education system. But before moving to Dubai, there are some key questions like what is the cost of living in Dubai that you need to consider.
In this article, we’ll talk about the reasons for choosing Dubai for living, its pros and cons, cost of living, and visa types.
- The main reasons for living in Dubai are its tax-friendly system, job opportunities, stable economy, safety and security, world-class education, and Golden Visa Program.
- Through the Golden Visa program, applicants who invest at least AED 1,000,000 can qualify for long-term residency in the country.
- In 2023, Dubai experienced over 44 million visitors, which indicates that real estate is in high demand. Buyers who are interested in investing in Dubai’s property market can gain high returns.
- Key business opportunities in Dubai are in industries like real estate, import & export, renewable energy, and smart cities.
Why Choose Dubai for Living?
According to Global Media Insight, as of November 2024, the UAE has a population of 12,50 million people. The majority of its population (88.50%) are expats. It’s also worth mentioning that Dubai has the biggest population among the seven emirates, at over 3,6 million. These numbers indicate that lots of expats prefer living in the UAE and a huge percentage of them prefer living in Dubai. Here are the main benefits of living in Dubai.
Tax-friendly System
Dubai has one of the most tax-friendly systems all over the world. In fact, as a Dubai resident, you don’t need to pay income taxes, property taxes, capital gains, or VAT on resales and rentals. This helps its residents maximize their profits.
Job Opportunities
Dubai’s booming economy comes with many job opportunities, especially in sectors such as technology, finance, hospitality, and real estate.
Stable Economy
The UAE’s economy owes a lot to Dubai, which is one of the centers of tourism, financial services, and construction. These sectors are cornerstones of UAE’s growing economy and rising GDP.
Safety and Security
Is Dubai a safe place to live? Yes! The high level of safety and security is yet another key factor for people living in Dubai. In fact, according to Numbeo, the level of crime in Dubai is 12.36 (a very low indicator) and the safety index is 83.77 (a very high indicator).
Golden Visa Program
Golden Visa is yet another reason to move to Dubai. The program is specially designed for entrepreneurs, investors, and professionals. As an investor, after meeting the eligibility criteria, all you need to do is to invest at least AED 2,000,000 in real estate. Make sure the property you try to acquire is in the free zone area.
Known for its famous attractions, tax-friendly system, diverse cultures, and welcoming atmosphere, Dubai has become a home to many foreigners. People like the idea of having a highly paid job, active social life, and benefit from the advanced healthcare and education systems. For these people, Dubai has designed a Golden Visa program, which aims to receive economic contributions and an exchange grant for applicants with a 10-year residency. If you’re interested and want to apply for this program, don’t hesitate to contact a specialized agent, who’ll create personalized strategies for you to find your way to Dubai.
FAQ
Buying a property as an expat is possible. You just need to consider that you can buy real estate only from the Freezone Areas. Some of the most common investment places for foreigners are Dubai Silicon Oasis, Jebel Ali, Dubai Media City, Dubai Marina, Downtown Dubai, and Business Bay.
Based on your goal of living in Dubai, there are several types of visas for expats. The most popular ones are employment visas for those who work in UAE-based companies, investor visas, tourist visas, and Golden visas.
Yes, Dubai is a family-friendly city. Having a safe environment, advanced healthcare and educational system, beautiful parks and beaches, it’s one of the best to spend your family time.
