Let's not forget Shamsa, Latifa and Haya, the Royal Beduinesses, as an example of the beautiful Dubai life.
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UAE is on European Commission blacklist
- Thread starter Konstanz
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We are looking at and promoting Dubai as Business and Finance Center with Transactional Retail Banking possibilities at 0% Corporate Tax with a Tax Free Residence - not to live fulltime in the desert or in August literally in a Microwave.
I agree on all you mention here and even @Konstanz is right with some things he mention about Dubai but its not about this but about what I mentioner here in this post earlier.
Believe it or not - this is quite interesting for almost everyone to have his Business and Finance Center sorted in Dubai while living wherever he enjoys.
For the bureaucratic lazy guys like me I still recommend to make 3 months per year in Dubai so that the Tax Free Residence is sorted and no one can challenge it.
There are worse things then spending 3 months in Dubai during the winter.
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UAE citizenship impossible for 99.99% of expats, be in the middle of the desert walking with AC blowing 24/7 and lots of prostitutes although prostitution is illegal lol.
I also realized that Dubai is a very small city.
The only positives about Dubai (for me) is the taxation system and safety. It has more cons than pros 🙁
And it's really not cheap. Good apartment rent is 7k EUR/month.
https://www.propertyfinder.ae/en/search?c=2&fu=0&l=9042&ob=mr&page=1&rp=y
https://www.propertyfinder.ae/en/search?c=2&fu=0&l=9042&ob=mr&page=1&rp=y
Apart from lifestyle and cultural issues there are too many uncertainties with Dubai for a European citizen right now:
- Will you be subject to 9% CIT (or maybe later 15% because OECD decided so)
- Will you still be able to move funds between Europe and UAE without having your accounts closed
- Will there be audit requirements and if so what are the costs
- Andorra got removed from the grey list only after they introduced a 10% personal income tax, UAE might go the same route
You will need a high upfront investment of at least 30k EUR (1 year rent paid upfront, company formation, office, accounting, health insurance, visa, flights etc) without knowing whether it gives you any advantage or not compared to cheaper solutions in Europe. But for someone who knows for sure that he/she will generate more than 1 mln income/year or is from another region it might still be interesting.
- Will you be subject to 9% CIT (or maybe later 15% because OECD decided so)
- Will you still be able to move funds between Europe and UAE without having your accounts closed
- Will there be audit requirements and if so what are the costs
- Andorra got removed from the grey list only after they introduced a 10% personal income tax, UAE might go the same route
You will need a high upfront investment of at least 30k EUR (1 year rent paid upfront, company formation, office, accounting, health insurance, visa, flights etc) without knowing whether it gives you any advantage or not compared to cheaper solutions in Europe. But for someone who knows for sure that he/she will generate more than 1 mln income/year or is from another region it might still be interesting.
You shouldn't be subject to 9% CIT with a free zone company.
It depends on revenue and transaction count but generally costs 2-3K EUR.
Possible but not in the near feature(in 3-4 years).
A proper company set up in a reputable freezone costs 15-20K EUR per year including a small physical serviced office. You can go with cheaper freezones but you will regret. If you want to rent a decent 1br flat in Dubai then you need to pay at least 30-40K eur per year.
No one forcing you to live on the ONE island with the Dubai Ain where you have limited supply and therefore you have to pay the price.
It's the same in London if you wan to have THAT London eye view or in Paris THAT Eifel Tower view - you have to PAY for it - it's nothing else in Dubai.
For everyone who wants a decent lifestyle not living in the first raw or driving with the lambo to the Mall has more then enough options without being at the end of the world or middle in the dessert.
Copy that however again DECENT - 30-40k EUR per year in rent for 1 BR getting you a 5 star luxury living experience in an Address 5 Star Hotel all bills inclusive and serviced.
While you get a 1BR easily for the half in JVC for example which is 10-20 min from almost everywhere.
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Which Address hotel is it? Decent means any average flat in Dubai Marina. If you want to live in the middle of the desert then yes the price will reduce.
JVC to downtown takes 30-50min and there is a huge traffic problem in the area during business hours also JVC is very problematic because of prostitution and problematic people.
Someone who has lived in dubai and is living in europe now, i can surely tell you its the city of the future, their neutrality will attract more wealthy people from across the globe. As far as taxes are concerned, I am sure they will introduce personal income tax in the range of 5-10% to get off the fatf and eu blacklist in the next 2-3 years, corporate tax will raise to 15% by 2030 since they signed the oecd minimum tax agreement unless they dont comply with it. If i didnt have kids, I would stay in dubai, i feel at somepoint in life you have to prioritise your family and kids, but I would make more money being in europe than in dubai since there is no industry or market to what I do in dubai, either way I could stay but chose not to in dubai.
Now, coming back to people claiming human rights etc etc, people from europe or european countries shouldnt give lessons on human rights to middle eastern countries since they colonised most of asia and africa and left them in complete misery, atleast the middle east is allowing the poor from the poor countries to have some livelihood, what is europe doing about it???? Please explain me if a poor from a poor country can even visit europe legally???? No chance!!!! Illegal migration to europe in present times is their act of karma getting back at them unfortunately.
Now, sticking to the point, no place is perfect, dubai is a great place to live if you make 200k usd plus a year otherwise forget it.
Now, coming back to people claiming human rights etc etc, people from europe or european countries shouldnt give lessons on human rights to middle eastern countries since they colonised most of asia and africa and left them in complete misery, atleast the middle east is allowing the poor from the poor countries to have some livelihood, what is europe doing about it???? Please explain me if a poor from a poor country can even visit europe legally???? No chance!!!! Illegal migration to europe in present times is their act of karma getting back at them unfortunately.
Now, sticking to the point, no place is perfect, dubai is a great place to live if you make 200k usd plus a year otherwise forget it.
Address Dubai Marina!
Any average flat in Dubai Marina (1 BR) is not 40k EUR - fact.
First Collection JVC to Dubai Mall takes 20 Minutes:
Beside of that - in Rush Hour you can live in Business Bay and it can take you 30 minutes to Dubai Mall and "the other topics" - you have them across Dubai Tourist Hotspots unless you are living in a Townhouse / Villa Community like Arabian Ranches.
Or do you want to tell me Downtown / Business Bay or Palm Jumeirah is not flooted by Porta Potties?
Dubai is what you make out of it - at least you have the possibility to make something out of it while in Europe you are running all the time in limitations and ignorance - closed doors.
I disagree - Personal Income Tax at 0% is still very well possible without getting grey listed - look at Monaco, Bahamas and every single other GCC Country.
Last edited: Mar 23, 2023
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How? I just checked the lowest room price at Address Dubai Marina for 29 days. The cost is 12K EUR 1 month even in ramadan. You can check from their official website. You can't rent a room at the Address Hotel for 30-40K EUR per year. You can get a discount with 1-year agreement but obviously they're not going to apply 70% discount.
There is no traffic in the middle of the night. Check the same between 12:00-20:00.
I reckon all you Capital Religious Fundamentalists Dubai Bashers - who want to make the world a better place ought to really move to the egalitarian countries of Norway and Finland- Where you find that equality, social justice, freedom, responsibility, honesty and voluntary commitment to promoting the welfare of others are central. Where the skies are pink and water flows like gold from the taps....
So please head over to the other forum on www.onshorecorptalk.com and be sure to file your taxes to promote said values and let us know how you get on in a few decades orso.
It is all relative and everyone different, no point bashing something because you did not like it, or met your needs.
Last edited: Mar 23, 2023
So please head over to the other forum on www.onshorecorptalk.com and be sure to file your taxes to promote said values and let us know how you get on in a few decades orso.
It is all relative and everyone different, no point bashing something because you did not like it, or met your needs.
Last edited: Mar 23, 2023
1-) They are furnished apartments in the different part of the address marina building not "Address 5 Star Hotel" as Fred mentioned.
2-) You sorted the cheapest listings first. Real estate agents use fake cheap listings like this to attract potential customers. This is a very common tactic in Dubai. Check the link below and you will see that the average price is 190K.
https://www.propertyfinder.ae/en/search?bdr[]=1&c=2&fu=0&l=3043&ob=nd&page=1&rp=y&t=1
I would normally not reply to this but you are taking the mickey.
https://www.tripadvisor.com/Hotel_R...Marina_Residences-Dubai_Emirate_of_Dubai.htmlQuote “
The Address Dubai Marina hotel apartments combine the luxury of a premium luxury hotel, with the space, convenience, and privacy of your own home. Relax in the blissful comfort of our immaculate and expansive 442 residences ”“ each with its own charm, and equipped with every amenity.”
as for prices on property finder I see maths is not your strongest point. And giving a reason that a lot of listings are fake to justify some fact You think is important.
I guess I could say - yes I agree with you and a lot of these expensive listings are fake too - either forgotten by agents or perhaps on the market by clueless owners. Or it could just be indeed just that - location in building and view and size etc”¦. Either way they start at 120k aed for a1 bed which you said you can NOT rent at in a previous post.
if I would compare apples with apples - you showed a screenshot of a room reservation in address Marina, which is not a 1 bed. Studios start even cheaper At 109k but going by your reasoning - please point out the average yearly price for these will ya for me?
https://www.tripadvisor.com/Hotel_R...Marina_Residences-Dubai_Emirate_of_Dubai.htmlQuote “
The Address Dubai Marina hotel apartments combine the luxury of a premium luxury hotel, with the space, convenience, and privacy of your own home. Relax in the blissful comfort of our immaculate and expansive 442 residences ”“ each with its own charm, and equipped with every amenity.”
as for prices on property finder I see maths is not your strongest point. And giving a reason that a lot of listings are fake to justify some fact You think is important.
I guess I could say - yes I agree with you and a lot of these expensive listings are fake too - either forgotten by agents or perhaps on the market by clueless owners. Or it could just be indeed just that - location in building and view and size etc”¦. Either way they start at 120k aed for a1 bed which you said you can NOT rent at in a previous post.
if I would compare apples with apples - you showed a screenshot of a room reservation in address Marina, which is not a 1 bed. Studios start even cheaper At 109k but going by your reasoning - please point out the average yearly price for these will ya for me?
Exactly well said thu&¤#.
Some people take discussions to the heart and get easily offended anytime UAE is criticized. I criticize my own banana republic (Bahamas) in others threads and others have too...lol.
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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.
I'm talking about the address hotel not the outdated apartments inside the same building. Try to read first and after that use your keyboard.
I don't need to justify anything to you. I own and manage properties in Dubai worth 8 figures. I know the market and how real estate agencies work and their tactics. What is your experience in Dubai real estate market other than your hotel bookings and tripadvisor searches?
I told you before you don't know the Dubai real estate market and just talking. It is easy to access real rental/sales values from Dubai Land Department. I just fetched the latest 1BR address marina apartment rentals from DLD. So tell me Mr. Dubai Expert, where is your 120K AED unit 😉
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