Hi I know there's been some info on this forum as well several posters based there. I will try to dig it up but would apreciate any up to date advice. Going back soon to Dubai, for the third time this year and with the whole family this time, see how they like it. What do you reckon is the best way to get a residence permit there ? I heard about trading firms who arrange a visa, but I'm not too keen on joining any firm; Setting up a company and beeing the director is fine, I have quite a bit of experience in those, can you recommend an agent to arrange the visa ? Also I noticed some restrictions for Financial activities in MnA of UAE companies. is it easier to set up a company non equities trading related and get a residence permit as a director ? Lastly I read buying a property over 1 million aed is enough to gain residence, is that true ? It sure wouldn't break the bank but the real estate investment doesn't attract me much, with property prices having apparently increased 70% over the last year, and the places I'm looking to live in cost way more than 1 mil aed. Any advice will be welcome, starting with reliable agents to get the documents done , for me as well as dependants Thanks in advance luis
Prepare for HELL - say Hi to Lucifer Excerpted from “20 Reasons Not to Move to Dubai” in Escape From America Magazine, Issue 94. http://www.escapeartist.com/live/2014/03/18/20-reasons-not-to-move-to-dubai/
I would contact your home country's consulate in dubai. Most larger countries will have one. They can answer basic questions.
Well, I read the 20 reasons not to move to Dubai before, only a couple of those strike a chord, and where I stay now is worse in several levels - for me at least, for the family where we live now is quite fine. The girl enjoy bitching about driving in Dubai, but to many far eastern expats, cheap luxury cars and fluid traffic outside some downtown roads would make UAE a driving paradise. The girl didn't mention bank accounts getting frozen once the bank receive a salary check with the mention "last check", or "last salary " on it. Many extra issues seem to arise when one move there through a job contract. And for sure there are quite a few satisfied and succesful expats around Dubai. But i'm not overely enthusiastic, still considering wether to move and where to move next.
AAAinthebeltway, thanks for the tip, I was more thinking about the UAE consulates near here, but my country's consulate in Dubai should indeed at least be able to provide the contacts of reputable agents and basic immigration information.
As I mentionned I don't see Dubai as hell, and many things are quite convenient there (but I suspect it's not that nice for a female expat, including Ms Luishk) Quite bored with Asia actually, which now feels like purgatory, and hoping to move back to Europe after 2/4 years.
UAE = HELL = Camel Jockey Retard Capital of the Universe in more categories than just a few, but here let's look at just one. Ditto for asswipe Saudi Arabia category: maids and female domestic help abuse in Dubai would shock even SATAN Maids hired from Philippines and other ASEAN countries tortured and held prisoner and raped by the Man of the house and all his male family members on a regular basis, passport confiscated by employer on day #1, no phone calls allowed, no mail, no going out. Girls beaten to a pulp and worked to the bone, wages confiscated for the most part. Escape was impossible until one or 2 did and made it to the International News station. The Police are on the side of the employers. ---------------------------------------------------------- foreign worker category
Wow, looks like someone had a bad experience there @ AfterLOS. I think you'd be hard pressed to find anyone living here who would call it hell, unless they overextend themselves piling on debt trying to live the lifestyle they see being enjoyed around them and then are too irresponsible to deal with their financial problems. The reality is that there are some archaic laws with regards to debt, but things are slowly changing. The problem historically in Dubai/UAE is that you have an 85% expat population, so unlike the US where if you get fired you dont usually get on a plane and leave your debt behind, in the UAE that was quite common. Its funny how many people judge Dubai and the region without ever having visited, glad to see your at least doing your homework by coming here. Reality is that its a great place to live and trade from, been doing that for 8 years now. With regards to setting up a company if you plan to trade personal funds and not market a fund or financial service you're fine setting up in one of the freezones like DMCC, RAK freezone or similar. You can just create a company to manage your personal/proprietary investments. If you want to run an asset management business there are greater regulations and requirements which includes licensing from the local regulator. DMCC establishment including all the required approvals is appx AED 50k, and you can chose a flexidesk, serviced or full office which are obviously additional. RAK free trade zone is also an option, cost is around AED 30k and you'll have cheaper office options. Glad to answer detailed questions on PM