Why Canadians Are Leaving Canada?
Table of Contents
Introduction
In recent years, there has been a noticeable trend of Canadians and even non-Canadians opting to leave Canada in favor of relocating to Dubai. This migration is driven by various factors that make Dubai an increasingly attractive destination for individuals seeking safety, financial stability, and tax advantages. In this comprehensive article, we will explore the top three reasons why clients of Genzone are making the move from Canada to Dubai at a rapid pace.
Safety Concerns in Canada
In recent years, safety concerns have escalated in Canada, prompting many residents to seek alternative destinations for a secure and peaceful environment. The rise in incidences of theft, burglary, and violent crimes has created a pervasive sense of insecurity among Canadians. Luxury vehicles are being stolen from driveways, while even more modest cars are not spared from theft. This alarming trend extends beyond property crimes, with serious offenses such as murder becoming increasingly prevalent. The proliferation of drug-related incidents further compounds the safety challenges faced by Canadians. Lenient policies aimed at rehabilitating drug addicts through access to cleaner drugs have inadvertently fueled drug abuse and related criminal activities, contributing to a heightened atmosphere of unease and vulnerability.
Dubai’s Reputation for Safety
In contrast to the safety concerns plaguing Canada, Dubai has established itself as a beacon of safety and security. The city boasts low crime rates and stringent law enforcement measures, providing residents with a reassuring sense of safety in their daily lives. Dubai’s commitment to maintaining law and order is evident in its robust policing strategies and proactive crime prevention initiatives. As a result, residents can enjoy a sense of peace and tranquility, free from the constant apprehension and fear that often characterize life in less secure environments. Whether walking the streets, driving through neighborhoods, or engaging in recreational activities, residents of Dubai can navigate their surroundings with confidence and peace of mind.
Appeal of Dubai’s Safety for Canadians
For Canadians seeking refuge from the safety concerns plaguing their homeland, Dubai represents an attractive destination offering sanctuary and security. The prospect of residing in a city renowned for its safety and low crime rates provides reassurance and peace of mind to individuals and families alike. In Dubai, residents can enjoy the freedom to pursue their aspirations and lead fulfilling lives without the constant fear of falling victim to crime or violence. The city’s reputation for safety serves as a compelling draw for Canadians looking to safeguard their well-being and that of their loved ones, making Dubai an appealing choice for relocation.
Rising Cost of Living in Canada
In recent years, the cost of living in Canada has soared, placing a considerable strain on residents’ finances. Essential expenses such as food, gas, rent, and goods and services have experienced substantial increases, surpassing the rate of income growth for many individuals. Canadians across the socioeconomic spectrum are feeling the pinch as their purchasing power dwindles in the face of rising prices. Even those with substantial incomes find it increasingly challenging to maintain their desired standard of living in the face of escalating expenses. Compounding the financial pressure is the burden of high taxes, which further erodes disposable income and exacerbates financial stress for residents. Despite earning six-figure incomes, many Canadians find themselves struggling to make ends meet, particularly those with families to support. This growing disparity between income and expenses has led to a widespread sense of financial insecurity and dissatisfaction among Canadians.
Taxation Woes
One of the major contributors to the rising cost of living in Canada is the burden of high taxes. Canadians are subject to a complex tax system that encompasses various levies, including income tax, property tax, sales tax, and other forms of taxation. Income tax rates in Canada can be substantial, particularly for high earners, resulting in a significant portion of their earnings being withheld by the government. Additionally, property taxes can add further financial strain for homeowners, while sales taxes increase the cost of goods and services. The cumulative effect of these taxes is a substantial reduction in disposable income, making it increasingly difficult for Canadians to cover their expenses and save for the future. As a result, many individuals and families are seeking alternatives to mitigate the impact of high taxes on their financial well-being.
The appeal of Dubai’s Affordability
In contrast to the escalating cost of living in Canada, Dubai offers a compelling alternative for those seeking financial stability and prosperity. With its relatively lower cost of living and favorable tax policies, Dubai provides residents with the opportunity to enjoy a higher standard of living at a more affordable price. Essential expenses such as housing, transportation, and healthcare are often more affordable in Dubai compared to Canada, allowing residents to stretch their dollars further and allocate more resources towards savings and investments. Moreover, Dubai’s tax-friendly environment, characterized by low or zero personal income tax rates and moderate corporate taxes, enables individuals to retain a larger portion of their earnings, fostering financial security and prosperity. For Canadians burdened by the rising cost of living and high taxes, Dubai represents an attractive destination where they can achieve their financial goals and enjoy a higher quality of life without sacrificing affordability.
Dubai’s Tax-Friendly Environment
One of the most compelling reasons why Canadians are flocking to Dubai is its highly favourable tax regime. In stark contrast to Canada’s high personal income tax rates, Dubai boasts a 0% personal income tax rate, offering residents the opportunity to retain significantly more of their hard-earned income. This absence of personal income tax represents a substantial financial benefit for individuals, allowing them to enjoy greater financial freedom and flexibility in managing their finances. Additionally, Dubai’s corporate tax rate is a modest 9%, applicable only to net profits exceeding a certain threshold. This favourable corporate tax environment is particularly appealing to entrepreneurs, investors, and business owners seeking to establish or expand their operations in a tax-efficient jurisdiction.
Tax Savings and Financial Benefits
The tax advantages offered by Dubai extend beyond personal and corporate income taxes to include other forms of taxation, such as sales tax. Dubai’s sales tax rate of 5% is lower than that of Canada, providing residents with additional savings on purchases of goods and services. This reduction in the cost of living contributes to overall affordability and enhances residents’ purchasing power, allowing them to enjoy a higher standard of living while keeping more money in their pockets. Moreover, Dubai’s tax-friendly environment fosters an atmosphere of economic growth and prosperity, attracting individuals and businesses from around the world seeking to maximize their financial opportunities and minimize their tax liabilities.
Appeal of Tax Savings for Canadians
For Canadians burdened by high personal income taxes and other forms of taxation, Dubai’s favorable tax policies present an attractive opportunity to reduce their tax liabilities and increase their disposable income. The prospect of enjoying substantial tax savings serves as a compelling incentive for Canadians to relocate to Dubai and take advantage of its tax-friendly environment. Whether individuals are looking to enhance their personal finances, grow their businesses, or optimize their investments, Dubai offers a wealth of opportunities for tax optimization and financial prosperity. By leveraging Dubai’s favourable tax regime, Canadians can achieve their financial goals and enjoy a higher quality of life with greater financial security and stability.
Advantages of becoming a resident of Dubai
Residency visa holders in the UAE are entitled to a wide range of societal privileges that contribute to an enhanced quality of life. One of the most significant benefits is access to healthcare services. Residents enjoy comprehensive health coverage, which protects them from the financial burden of healthcare expenses. Whether it’s routine medical check-ups, emergency treatments, or specialized healthcare services, residents can access high-quality healthcare facilities and services across the UAE. Additionally, the healthcare system in the UAE is characterized by state-of-the-art infrastructure, advanced medical technologies, and highly qualified healthcare professionals, ensuring residents receive world-class medical care.
Furthermore, residency visa holders have the privilege of sponsoring their families to join them in the UAE. This family sponsorship enables residents to reunite with their loved ones and create a stable and nurturing environment for their families. Whether it’s spouses, children, parents, or dependents, residents can sponsor their family members to reside in the UAE and enjoy the same benefits and opportunities available to residents. Moreover, residents can enroll their children in leading schools, both public and private, offering high-quality education and diverse learning experiences. The UAE boasts a multicultural and inclusive educational environment, where students can excel academically and develop essential skills for future success.
Additionally, residency status facilitates seamless access to government services and amenities, ensuring residents’ needs are met efficiently and effectively. Whether it’s obtaining official documents, accessing public transportation, or participating in community events, residents benefit from the UAE’s well-developed infrastructure and efficient public services. Overall, the societal privileges associated with UAE residency enhance residents’ quality of life and contribute to their overall well-being and happiness.
Procedure to register your business in Dubai
The process is designed to streamline the entire residency visa journey, from registering your company to obtaining your Emirates ID and setting up personal and business bank accounts. Here’s a breakdown of the process timeline:
1. Company Registration (3-5 Business Days)
The initial step involves registering your company in Dubai, a process that typically takes 3 to 5 business days. Remarkably, this part of the process can be completed without your physical presence in the country.
2. E-Visa Application (3-5 Business Days)
Once your company registration is underway, the next phase is initiating your visa application to obtain the pre-authorization employment visa (e-visa). This process can commence at least 2 weeks before your planned arrival in Dubai and is usually completed within 3 to 5 business days. For VIP clients, there’s an option for a 24-hour e-visa issuance.
3. Arrival in Dubai (Saturday or Sunday)
Upon arriving in Dubai, we recommend doing so on a Saturday or Sunday. This allows for seamless processing within the immigration system, demonstrating your presence in the country. Our team will then schedule medical and biometrics appointments for you.
4. VIP Medical and Biometrics (Monday)
For VIP clients, the medical and biometrics appointments are consolidated into a single day – Monday. With our assistance, you’ll undergo both tests efficiently, and results will be received the same day.
5. Residency Visa Application (Monday to Wednesday)
Following the successful completion of medical and biometrics tests, we submit the results to apply for your official 2-year residency visa. Typically, this stage takes 3 to 5 days, but with VIP processing, you can expect your residency visa to be issued within 24 hours.
6. Emirates ID Delivery (Thursday or Friday)
Simultaneously with the residency visa issuance, your Emirates ID will be delivered within 2 to 3 business days after completing the medical and biometrics tests. This typically occurs on Thursday or Friday of the same week.
7. Personal and Business Bank Account Opening
With your residency visa and Emirates ID in hand, the final step involves opening your personal and business bank accounts. Your personal bank account can be opened in one visit, including checking and savings accounts, credit cards, and a multi-currency account. For the corporate business account, we can complete the process virtually within 3 to 7 working days, allowing you to manage it from anywhere in the world.
Conclusion
In conclusion, the decision to relocate from Canada to Dubai is driven by a combination of factors, including safety concerns, the rising cost of living, and tax advantages. Dubai offers a safe and secure environment, a more affordable cost of living, and favorable tax policies, making it an attractive destination for individuals seeking a better quality of life and financial stability. As more Canadians and non-Canadians explore opportunities abroad, Dubai stands out as a promising destination for those looking to embark on a new chapter in their lives.
Book a Free Consultation call with us to make your move!
