Reasons You Should Not Move To Dubai
Table of Contents
Introduction
Moving to Dubai is not just about the lifestyle or the opportunities; it’s about the entire experience of starting fresh in one of the world’s most dynamic cities. After helping set up over 400 companies and interacting with countless people who have moved here, we’ve gained unique insights into life in Dubai.
This article isn’t just about the positives—it’s also about some of the realities you need to consider before making the move. Let’s dive into the details, covering everything from taxes to community life.
Taxes in Dubai: The Real Picture
Let’s start with a hot topic—taxes. Many assume Dubai is a 100% tax-free haven, but things have changed slightly with the introduction of a 9% corporate tax. The good news? This tax isn’t applicable to everyone.
Here’s how it works:
- Revenue Threshold: Businesses earning less than AED 3 million (around $816,000) in revenue are exempt.
- Net Income Clause: Even if your revenue is over AED 3 million, only your net income above $102,000 is taxable.
- Small Business Relief: If your revenue is below the threshold, your corporate tax remains at 0%, regardless of your net income.
Most people I’ve worked with don’t meet the revenue threshold, so they enjoy 0% corporate tax. Even for those who do, the tax rate is relatively low compared to countries like Canada or the UK.
The Weather: Love It or Leave It
Dubai’s summer weather is intense—there’s no sugarcoating it. Temperatures soar, making outdoor activities challenging. However, there’s a silver lining:
AC Everywhere: From malls to restaurants, air conditioning keeps you comfortable.
Outdoor Cooling: Even some outdoor dining spots use cooling systems.
Travel Opportunities: Many residents use summer as an excuse to travel back home or explore other destinations.
While the heat can be a drawback, it’s manageable, especially if you plan vacations during peak summer months.
Building a Community: You’re Not Alone
One common concern is moving to a new country without knowing anyone. This can be daunting, but Dubai has a thriving expat community.
At GenZone, we’ve taken steps to make this transition smoother:
- Client Group Chat: When you become a GenZone client, you join a group chat with over 100 like-minded individuals.
- Networking Events: From meetups to yacht parties, there are plenty of opportunities to connect with others.
- A Sense of Belonging: Building a community helps you feel at home in a new city.
If you’re worried about being alone, rest assured that Dubai offers plenty of ways to make friends and build a support system.
The Cost of Living: A Balancing Act
Dubai is often perceived as expensive, especially when it comes to renting apartments or villas. Here’s the reality:
- Rent Prices: Rent can be high, particularly in prime areas like Downtown Dubai or Dubai Marina.
- Cost of Living: Outside of rent, expenses like food and transportation are often lower than in other major cities.
- Solutions: Consider living in more affordable areas like Business Bay, Jumeirah Village Circle (JVC), or Discovery Gardens.
Pro Tip: Renting annually and paying in one or two checks often gets you better rates than monthly payments.
Residency vs. Citizenship
One unique aspect of life in Dubai is the residency system. While it’s easy to get a residency visa, citizenship is nearly impossible for most expats.
Here’s what you need to know:
- Residency: You can secure residency through employment, real estate investment, or owning a business.
- Golden Visa: This is a long-term residency option available to investors, high earners, and skilled professionals.
- No Path to Citizenship: Unlike countries like Canada or the UK, Dubai doesn’t offer a clear pathway to citizenship.
For most expats, residency is more than enough, offering access to a world-class lifestyle and business opportunities.
The Big Decision: Is Dubai Right for You?
Moving to Dubai has its pros and cons, but for me, the positives far outweigh the challenges. Whether it’s the tax advantages, the thriving community, or the endless opportunities, Dubai offers something for everyone.
However, it’s essential to consider factors like the weather, cost of living, and lack of a citizenship pathway. If you’re ready to take the plunge, GenZone is here to help with every step, from setting up your business to finding your dream home.
Ready to Move? Let’s Make It Happen
At GenZone, we specialize in helping people make their Dubai dreams a reality. Whether you need assistance with company setup, visas, or real estate, we’ve got you covered.
Book a free consultation today, and let’s discuss how we can help you start your new life in Dubai.
