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Moving to Dubai

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    #31
    My sister and brother in law moved to Dubai a few years ago as contractors working for UK headquartered banks in Programme Management/PMO roles. They came back within 2 years. I have several other friends and family members who also decided to come back after a year or two.

    Reasons for returning - the high cost of living. You may "earn" more money on paper but it's quickly swallowed up by costs. If you want the "Dubai lifestyle" with a villa with a pool and eat out every day then you are going to burn through your savings very quickly, rents have to be paid by postdated cheques, not all jobs pay for education costs etc. Those that have stayed in Dubai are those that are in professions that are not massively well paid in the UK, e.g. teaching. They can have a lifestyle which they would not have been able to afford in the UK as often their accommodation is provided for and they can post pictures on their Instagram of them relaxing on a beach etc.

    A number of my friends/family have commented on is that if you get caught within the legal system you are basically screwed and the Emirati's can do whatever they want.

    One story I was told was of a senior manager at a UK based company who was given a bottle of champagne as a leaving present, and was subsequently arrested at the airport on his way home for carrying alcohol without a licence. Another story I was told was of an executive at a UAE company who was outed as being a "Shia" another Muslim sect and was fired from his job, simply for being of the wrong religious sect.

    I understand that your situation is different, as you mentioned you live alone and don't have children, in this case it might be a good move for you.

    Personally, while I can understand why people want to move there I have heard lots of direct feedback from people who have made the move who have said it's not worth it.

    Comment


      #32
      Originally posted by CompulsiveArsonist View Post
      A number of my friends/family have commented on is that if you get caught within the legal system you are basically screwed and the Emirati's can do whatever they want.

      One story I was told was of a senior manager at a UK based company who was given a bottle of champagne as a leaving present, and was subsequently arrested at the airport on his way home for carrying alcohol without a licence.
      Which is a well known law. Without having all the details, if you give up your residency and hand back your ID card, whether you had the licence or not, you are breaking the law if you walk into the airport with alcohol.

      Once you pass security, you are in the duristicion of the destination country.

      We have things here in the UK that are illegal, but legal in the country people are travelling from. If you travel to another country blind to their legal system, expect to be caught and punished.

      Originally posted by CompulsiveArsonist View Post
      Another story I was told was of an executive at a UAE company who was outed as being a "Shia" another Muslim sect and was fired from his job, simply for being of the wrong religious sect.
      I could give you similar stories about people here in the UK, fired from their job for their beliefs, sexuality, gender etc. I am not saying Dubai is without risk or issues, but I go into this with my eyes wide open.

      Originally posted by CompulsiveArsonist View Post
      I understand that your situation is different, as you mentioned you live alone and don't have children, in this case it might be a good move for you.

      Personally, while I can understand why people want to move there I have heard lots of direct feedback from people who have made the move who have said it's not worth it.
      I am not saying such a move is right for everyone, indeed people going who have a family, need to rent a property, get schooling, childcare and healthcare are going to find it tough going.

      I have made it clear from the start that this move is an option for single people in a similar situation, who can just get up and go, with considerable financial backup and make a go of it.

      Comment


        #33
        Originally posted by rogerfederer View Post
        Not taxed at source, but in order to get the money elsewhere you are likely to have to pay UK taxes - assuming you're in the UK now and have the equivalent of settled status with a 'life' here. Just a warning that a very good tax planner is required for this job you mention with a view to you not being back in the UK for any serious length of time in the coming 5 years.
        Indeed, if he keeps settled status in the UK, then there are no tax benefits to taking the gig.

        However, if he meets the automatic residency test and has limited ties, then he will be non-resident for tax purposes and it would be somethng to consider.

        The 5 year rule only applies to capital gains. Income tax is only for one year. So assuming he moves mid term, he would have 1 split tax year, followed by 1 year non-resident, followed by another split tax year. Any gains he made tax free during his stay would not attract UK taxation.

        Comment


          #34
          Originally posted by Jolie View Post
          Indeed, if he keeps settled status in the UK, then there are no tax benefits to taking the gig.

          However, if he meets the automatic residency test and has limited ties, then he will be non-resident for tax purposes and it would be somethng to consider.

          The 5 year rule only applies to capital gains. Income tax is only for one year. So assuming he moves mid term, he would have 1 split tax year, followed by 1 year non-resident, followed by another split tax year. Any gains he made tax free during his stay would not attract UK taxation.
          I'm interested in hearing if you've made the move to Dubai. A lot of people in this thread didn't seem to understand what you were saying.

          I'm in a similar position. I have my clients here in the UK and have minimal risk of losing my clients as hardly anyone can do what I do. I work from home and don't need to be in any fixed location. Like you, I also have no ties keeping me in the UK. I'm interested in moving to Dubai to be tax-free spending 3-5 years saving all my income.

          As a sole individual that will be invoicing my clients here in the UK, what are my opinions to move to Dubai and benefit from zero tax? Honestly, I couldn't care about how a woman in Dubai is treated or what freedoms some people don't have. It's tax-free. I can rent a nice apartment for £2000 a month, hit the gym, do my own thing on my own, save £1m+ for retirement and retirer young.

          Comment


            #35
            Originally posted by Anon36 View Post
            I'm interested in hearing if you've made the move to Dubai. A lot of people in this thread didn't seem to understand what you were saying.

            I'm in a similar position. I have my clients here in the UK and have minimal risk of losing my clients as hardly anyone can do what I do. I work from home and don't need to be in any fixed location. Like you, I also have no ties keeping me in the UK. I'm interested in moving to Dubai to be tax-free spending 3-5 years saving all my income.

            As a sole individual that will be invoicing my clients here in the UK, what are my opinions to move to Dubai and benefit from zero tax? Honestly, I couldn't care about how a woman in Dubai is treated or what freedoms some people don't have. It's tax-free. I can rent a nice apartment for £2000 a month, hit the gym, do my own thing on my own, save £1m+ for retirement and retirer young.
            Looks interesting:

            Dubai launches new remote-work visa – how to apply

            The problem you will probably face is how to invoice your customers from a business in Dubai. You'll need advice from an accountant in the UK and in Dubai.
            Last edited by BlasterBates; 26 January 2021, 07:52.
            I'm alright Jack

            Comment


              #36
              Originally posted by BlasterBates View Post
              Looks interesting:

              Dubai launches new remote-work visa – how to apply

              The problem you will probably face is how to invoice your customers from a business in Dubai. You'll need advice from an accountant in the UK and in Dubai.
              "Applicants also benefit from Dubai’s zero income tax for individuals."

              Ha! How do you get [most of your ] money back to the UK eventually?

              Comment


                #37
                Originally posted by rocktronAMP View Post
                "Applicants also benefit from Dubai’s zero income tax for individuals."

                Ha! How do you get [most of your ] money back to the UK eventually?
                Very carefully

                Comment


                  #38
                  Originally posted by rocktronAMP View Post
                  "Applicants also benefit from Dubai’s zero income tax for individuals."

                  Ha! How do you get [most of your ] money back to the UK eventually?
                  Bitcoin....
                  See You Next Tuesday

                  Comment


                    #39
                    Hawala ...

                    Comment


                      #40
                      Originally posted by Lance View Post
                      Bitcoin....
                      Sales of which are subject to capital gains.
                      merely at clientco for the entertainment

                      Comment

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