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]

aniglo22 said:
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
Click to expand...

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]

BerlusconiSchmidt said:
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.
Click to expand...

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

 

[aniglo22]

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

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.

Applicants will need the following:

1. Passport with a minimum of 6 months validity.

2. Health insurance with UAE coverage validity.

3. For employees:

• Proof of employment from a current employer with a one-year contract validity, a minimum of US$3,500 per month salary, last month's payslip and 3 preceding months' bank statements.

4. For business owners:

• Proof of ownership of the company for one year or more, subject to extension, with an average monthly income of US$3,500 per month or its equivalent in foreign currencies and 3 preceding months' bank statements.
• Proof of work/employment outside the United Arab Emirates and that the work is conducted remotely.
• If applying for permits for family members, applicants are required to submit their valid health insurance and passport along with fee payment for each member.

Click to expand...

 

[BerlusconiSchmidt]

aniglo22 said:
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.
Click to expand...

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

 

[aniglo22]

BerlusconiSchmidt said:
So it requires proof that the person is employed by a foreign company, and therefore cannot work for a UAE company?
Click to expand...

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 .

Last edited: Aug 7, 2024

 

[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]

Frankie said:
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).
Click to expand...

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]

BerlusconiSchmidt said:
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.
Click to expand...

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 spent on living costs to just break even, and spending 50k usd a month allows for a very good life for family).

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

Last edited: Aug 24, 2024

 

[Frankie]

BerlusconiSchmidt said:
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.
Click to expand...

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]

BerlusconiSchmidt said:
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.
Click to expand...

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]

JonnyStekkino said:
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.
Click to expand...

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]

Frankie said:
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).
Click to expand...

Examples of those other places?

 

[Frankie]

NwWork said:
Examples of those other places?
Click to expand...

 

[daniels27]

Frankie said:
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.
Click to expand...

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]

Frankie said:
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.
Click to expand...

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