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The United Arab Emirates is very popular among tourists and investors. About 140 thousand foreigners move to the state every year. Of the country’s 10 million people, only 1.5 million are indigenous.
Regarding the attractiveness of moving to permanent residence, the Emirates took 4th place in the world. The main reasons for such popularity are a high standard of living, a stable economy, and affordable real estate for investment; for example, the prices of apartments in Meydan will pleasantly surprise you, and the security in the country. Also, the advantages include a simplified taxation system: in the UAE, there is no tax on personal income, capital gains, and inheritance, and some companies may not pay income tax. From June 2023, corporate tax will be 9%.
Conditions for entering the UAE in 2023
Many foreign tourists do not need a visa to enter the UAE. The permitted period of stay in the country without a visa is 30 days, with the possibility of extending the period in migration offices up to 90 days.
Documents for crossing the border – a regular or biometric passport, the validity of which is at least 6 months from crossing the border, and medical insurance.
No COVID-19 vaccination certificate or PCR testing is required.
If you plan to stay in the UAE for a longer period or aim to invest, earn income in the state, or study, then you need to apply for permanent residence (long-term visa).
Features of life in the UAE
The United Arab Emirates is a traditional Islamic country and, at the same time, a multinational state.
- Standard and cost of living in the UAE
The UAE’s economy is growing faster than many countries in the world. The state ranks 7th in the world in terms of GDP per capita. Inflation is practically zero.
The cost of living in the UAE is higher than in Europe. A family of 2 will need about $3,500 per month. The main part of the expenses is housing rent and utilities. However, high salaries compensate for such expenses; the average salary in the UAE is about $7,000 per month.
- Real estate
A medium-sized apartment (140 square meters) in the UAE will cost the investor $450,000. The average price per square meter is $3,200.
You will have to pay $970 per month to rent a one-bedroom apartment.
Also, in Dubai, you can buy hotel apartments for permanent residence.
- Currency
The national currency of the UAE is the dirham. The dirham is attached to the dollar at a stable rate of AED 3.67 per $1.
- Language
The official language is Arabic, but residents actively communicate in English. Also, national mobile applications, documents, signs, road signs, and the like are duplicated in English.
- Medicine
The development of medicine in the country is at a high level; the world’s largest number of hospitals marked with international certificates operate here. The UAE is also actively investing in medical tourism.
- Education
For foreigners, education is paid. Kindergarten and school costs about $650 per month.
The list of the best universities in the world includes 11 universities in the UAE. Training takes place according to the Bologna system. The language of instruction is English. The diploma of the UAE is recognized in many countries of the world.
- Climate
Temperatures during the year are quite high; the average winter temperature is +20, and summer – up to +50. Rains are extremely rare; most of the state’s territory is desert.
- Entertainment for tourists in the UAE
The most popular tourist activities in the UAE are beach holidays, shopping, spa, and dining.
However, it is worth highlighting several local ways of recreation:
- jeep and quad biking in the desert;
- sandboarding – snowboarding on dunes;
- desert camel safari.
You can get an unforgettable experience from a trip on a yacht. Those who miss the winter holidays should visit Ski Dubai.
Managing investments in the UAE
The UAE has created favorable conditions for starting your own business: the VAT rate is only 5%, most companies are exempt from income tax, and you can register a company remotely. Also, entrepreneurs can obtain a resident visa for 5 to 10 years. The starting investment is $136,000.
Wrap-up
The constant rise in real estate prices in Dubai makes it one of the most attractive in the world for investment. The most significant demand among investors is apartments in newly built residential complexes with developed infrastructure and landscaped areas. For help buying property in Dubai, please contact Emirates.Estate.
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