Thinking of emigrating to Dubai? You\u2019re not alone \u2013 we help smart business owners establish their lives here after making just that decision. With such favorable tax terms, fantastic weather, and modern infrastructure, Dubai offers you a high quality of life that few other cities can.<\/p>\n
But our clients often ask us, \u201cshould I rent or buy?\u201d when moving here. The answer is, of course, that it varies depending on your goals, so in this article, we\u2019ll guide you through all the considerations you need to make before settling in Dubai.<\/p>\n
Why is Dubai so popular?<\/strong><\/p>\n Dubai was established as a small fishing village in the 18th century, but it began to grow quickly at the start of the 21st century. Today, it\u2019s a tourist-friendly cosmopolitan metropolis with more five-star hotels than any other city in the world. This highly populated city is home to the world\u2019s tallest building, the Burj Khalifa, not to mention thousands of high-rise apartment buildings, offices, hotel complexes, and restaurants.<\/p>\n For your day-to-day life, you\u2019ll be surrounded by successful people enjoying their wealth \u2013 many spend their time on the beaches, shopping, dining out, and heading out on their yachts. Besides perhaps hiking up a mountain, skiing, or walking through a dense forest, you\u2019ll be hard-pressed to find something you can\u2019t do here. And, when the whim does take you to head out on your skis, there are direct flights to almost any destination in the world.<\/p>\n Another notable reason why so many are choosing to move their lives to Dubai is due to the business and wealth-friendly climate here. Overlooking the notable tax benefits (which we\u2019re sure you have already noted!), the UAE wants to encourage other areas of industry in the country, besides oil and gas, and so they\u2019re investing in ensuring the UAE is one of the most business-friendly places on the planet. This has made the UAE (and more specifically, Dubai) a hub for global business, and a key place for entrepreneurs to flock to in order to find success.<\/p>\n Should I buy or rent when moving to Dubai?<\/strong><\/p>\n First, consider the following points:<\/p>\n We\u2019ll discuss the pros and cons of both in relation to your answers to these questions, and your answers to these questions will dictate which is better for you.<\/p>\n The advantages of renting in Dubai<\/strong><\/p>\n If you aren\u2019t sure how long you\u2019ll want to call Dubai home, or if you foresee buying could have negative implications for you, it may be best to rent, at least until you feel settled. Here are the advantages of renting in Dubai:<\/p>\n Renting is generally affordable in Dubai, especially compared to other areas of the world.<\/p>\n The advantages of buying in Dubai<\/strong><\/p>\n For most, the advantages of buying will make it the most practical (and financially sound) choice. Here\u2019s why:<\/p>\n What is a Golden Visa and am I eligible to apply?<\/strong><\/p>\n The Golden Visa allows you to live in the UAE for ten years without worrying about renewing documents or traveling back to your home country at short notice. It\u2019s an incredibly attractive perk for those looking to live and work in Dubai as it removes a lot of the hassle of relocating to the UAE. The Golden Visa affords huge opportunities in terms of relocation and career progression, and only costs (up to) around $1,000 to apply.<\/p>\n The reason why real estate ownership matters here is because you can essentially \u201cbuy\u201d your way to a Golden Visa, simply by owning a significant amount of equity in real estate outright in the UAE. While the amount you need to invest is higher than some other (less desirable) countries with similar tax benefits, it\u2019s a relatively low purchase amount.<\/p>\n You can apply for a five-year Golden Visa if you own properties outright worth AED 2 million in the UAE. If you have a mortgage, you may be eligible to apply for the visa if at least AED 2 million of the property\u2019s value is your equity, but outright ownership is most desirable. (We can advise you here.)<\/p>\n For this reason, if you want to stay in the UAE for more than 3 years, it makes sense to buy.<\/p>\n A Golden Visa is also available if you\u2019re a retired foreigner of at least 55 years old with investments worth AED 1 million and a monthly income of AED 15,000. Your Golden Visa can also extend to your spouse and children, regardless of their ages. Not only this, but your family is also entitled to keep their Golden Visas even in the event of your passing, so you don\u2019t need to worry about them being displaced.<\/p>\n Time to Buy? We Can Advise<\/strong><\/p>\n When it comes to the decision of buying or renting, the choice is yours. Whether you buy or rent in any city depends on your financial situation, life goals, and how long you plan to live there. The decision you make will affect your standard of living, monthly outgoing expenses, and security, so consider what\u2019s right for you carefully.<\/p>\n If you decide buying is right for you, we\u2019re here to help advise you on making a sound real estate investment in Dubai.<\/p>\n We work with the most successful real estate developers in Dubai and have an intimate knowledge of the real estate market. We\u2019ll show you where to invest in an apartment or house in Dubai, bearing in mind your budget, desired area of the city, and the type of home you want to live in. From high-end penthouses in lively hotspots to quiet, family-friendly homes, we can help you find your dream home.<\/p>\n\n
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