Cheapest way to get residence in the UAE today?

[BerlusconiSchmidt]

So we are deciding whether to move to the UAE or not.

As a family of 3, what would be the cheapest option, Visa speaking, to move to the UAE?

Running a company I was quoted for $10K a year plus all auditing so it goes around $15K USD a year.

Is there any other Visa that can be extended to fiance + children that costs overall below $5K a year?
I would be running a company from there so would it be cheaper if let's say I do a Freelance Visa + incorporating a company in the UAE (not Freezone) ?

Also what's the situation with bank accounts opening, is it still very hard? source of funds can easily be proved as it only comes from ecommerce, no crypto scam bulls**t.

 

[aniglo22]

You can use the remote working visa which costs 601$ . But you would need‌ to apply again to renew .
And you can sponsor children + wife.
https://www.investindubai.gov.ae/en/live-and-work/visas-and-entry/work-remotely-from-dubai

 

[BerlusconiSchmidt]

Thanks, only $601 USD each year?
and does it allow you⁠ to incorporate a mainland UAE company without all costs like medical, ID, etc.?

 

[MarkusCostigan]

If you earn at least 5K per month, for sure the Remote Working︀ Visa.

 

[aniglo22]

You will get an emirates ID so you don't need a medical exam again . And‍ I correct myself it's 611$ . But check if you qualify for the requirements.

 

[BerlusconiSchmidt]

So it requires proof that the person is employed by⁠ a foreign company, and therefore cannot work for a UAE company?

 

[aniglo22]

It's the requirement for‍ the visa . You can obtain visa and then open company. But you would get⁠ problems renewing after one year and would need to sponsor yourself through your company .But⁤ you could incorporate offshore and use the remote working visa . But if you are⁣ sure you want to incorporate a in the uae , then just open a mainland⁢ and sponsor your visa .

 

[myshufflemix]

It's a straight forward process it sounds reading all of this. Better is to have‌ the company registered first in UAE / Dubai then apply for the Visa?

 

[Frankie]

If you're really strapped for cash, then Dubai is probably not for you. It's not‌ a cheap place to live, especially with a family.

There are plenty of cheap tax‍ havens around the world that offer much better life style especially for families, cheaper, with⁠ lower tax as well (9% isn't that competitive).

 

[BerlusconiSchmidt]

Have you⁤ ever lived in the US/CANADA/AUSTRALIA/NZ/UK in 2021-2024?

Dubai is cheaper, and it has 100% less⁣ Tax than those places, making things even cheaper.

 

[JackAlabama]

if youre happy living in an apartment in Deira or Ajman, than yes. Otherwise totally⁠ not cheaper at all, especially not for a family.
You will have high cost of⁤ private schools and private healthcare on top.

It works if you make a lot of⁣ cash, then the tax savings trump this all. (2M usd a year @ 40% tax⁢ vs 2M @ 9% leaves you with around 620k savings which can be freely spent︀ on living costs to just break even, and spending 50k usd a month allows for︁ a very good life for family).

if you think about cost, you need a place︂ which has low tax and is cheap on an absolute basis.

 

[Frankie]

You know, the US is quite big, is it cheaper than NYC or cheaper than⁠ middle of nowhere in Alabama?
Such generalizations don't add much to the conversations.

 

[JonnyStekkino]

Plenty of choices in EU and Asia.
Dubai was expensive and now became even more⁠ expensive, add the taxes, bureocracy and strict rules application with easy fines.

 

[JackAlabama]

well one can make uae work cost effectively, but most prob not in‍ Dubai (but in the other emirates).
For example, Rak is pretty nice as well and⁠ much cheaper and you are in Dubai in a about 90 mins or so.

 

[Nw1]

Examples of⁤ those other places?

 

[Frankie]

[No content provided]

 

[daniels27]

In this case, do nothing, pay 56% taxes on nothing and get all for free in‍ Finland is probably the best deal. If you are broke or have a family, you⁠ don't need to worry about taxes. You need to worry about not getting expensive social⁤ welfare.

 

[Davis123]

Texas and Florida have no state income tax. Cheaper to live than⁠ NYC.