The United Arab Emirates attracts citizens of Europe and the CIS countries with its climate, comfort, economic stability, and reliability. But what is behind the desire not just to come to Dubai or Abu Dhabi on vacation but to move there to live in houses in Dubai for expats? For questions about what is an incentive for our compatriots to such large-scale changes, how recent events have affected this motivation, and what can make them return, we will tell you later in our article.
Reasons for moving citizens of Europe and the CIS to Dubai and other emirates
Arabian dream. Why move to Dubai?
Usually, citizens of the CIS countries travel to the Emirates for several reasons:
- Firstly, in this way, they seek to protect themselves from inflation by transferring their money – in Dubai, there is an opportunity not to pay income tax.
- Secondly, they want to obtain residency in the UAE and provide a more comfortable life.
- Thirdly, the climate. The Emirates has a high percentage of sunny days, which positively affects mood.
Visitors’ expectations are often justified, but the personal factor is always worth considering.
The most attractive aspects of life in the UAE
One of the reasons is the climate, which differs significantly from the climate of the countries of the former USSR. Very comfortable weather remains from September to May in the UAE and specifically in Dubai. Another decisive factor is the proximity to the sea.
The ease of starting a business also attracts many foreigners. In addition, there is the following system in Dubai. Before allowing a new enterprise to be launched in the emirate, analysts ensure whether the person in a business can run it. A potential entrepreneur should draw up a business plan and keep in mind that the annual license fee must be paid in advance: that is, if something does not work out, you will lose money. This makes many people more responsible for starting their own businesses.
The almost complete absence of taxes is also one of the reasons. In June 2023, the country will introduce a corporate income tax, but now most companies are exempt from this duty. Businesses pay only 5% VAT, but this rate is very low compared to other countries.
The main reason to invest in real estate in Dubai
The investment was and remained the leading request. In this case, buyers are divided into two categories. Representatives of the first category seek to make a long-term investment. In contrast, representatives of the second want to purchase an object at the initial stage of construction and resell it at the end of the development process, thereby earning on the difference in cost. The motivation for both of them is a safe investment of money.
Employees of the real estate agency www.axcapital.ae/ will select the right property for you in the UAE and accompany you at all stages of the transaction. Thousands of expats who have moved to the Emirates worldwide have already appreciated their professionalism.