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Chat on WhatsAppIn recent years, Dubai has emerged as a truly multicultural city, thanks to the strong influx of expats arriving in the emirate. This is thanks to a series of progressive changes that have shaped Dubai into what it is today: modern, vibrant, wealthy, and multicultural. Let's take a look at what it's really like to live there.
A new life in such a place could be one of the most exciting experiences you'll ever have. However, living there can be daunting if you don't have a working knowledge of how things are done locally.
In 2020, the United Arab Emirates introduced some interesting changes for its expat residents.
CareersThose with skilled workers are likely to find a suitable job offer. The main sectors currently employing large numbers of workers range from construction to medicine, from hospitality to education.
Dubai has already emerged from its dependence on oil and has become a leader in the IT, services, and tourism sectors. It's no coincidence that many Middle Eastern countries are following the same trend, desperately seeking to diversify and reduce their dependence on oil, hence the emphasis on developing their service industries.
Currently and for the foreseeable future, IT is the hottest sector in the region, including banking and e-commerce. Governments see the future in technology and are competing fiercely for foreign investors, technology companies, startups, and qualified professionals from around the world, including Italy.
Without a doubt, the United Arab Emirates is a perfect location for a tech company. It boasts a highly developed internet infrastructure and connectivity, making it ideal for online startups. Funds and initiatives exist to support startups developing all types of technological innovations, including alternative energy, robotics, and space exploration.
Cost of LivingWhen it comes to the cost of living in Dubai, there's both good and bad news. Housing costs can be quite high for a decent rental apartment in a good location, and this must be paid upfront.
Furthermore, if you want to buy a property, you may have to wait for construction to be completed or pay a high price for a property transferred from another owner. However, real estate offers good returns when rented out. By relying on our experts, you can achieve returns of up to 12%.
Besides housing, other high costs to be aware of include tuition, which is now exorbitant at the best schools, and space is limited. Despite a law limiting the annual rate of tuition increases, schools find ways to add extras, and this has caused prices to skyrocket year after year.
Medical insurance and the cost of healthcare are high, but the quality you get is exceptional.
Basic daily grocery costs are average, while alcohol is quite expensive. Fuel costs are affordable, as are vehicle purchases compared to Europe, for example.
Even with the introduction of VAT (at 5%, one of the lowest in the world), daily shopping costs are still relatively reasonable.
Like any other place in the world, Dubai has much to offer, but also some significant drawbacks. When moving to a new place, it's essential to understand the advantages and disadvantages.
As mentioned, the advantages of living in a place like this are numerous. Obviously, the most appealing is the possibility of a high-level job with a tax-free salary. Despite the cost of living, having a tax-free salary helps maintain high purchasing power and allows you to fully enjoy the many social benefits of life here.
There are several options for obtaining a visa. Even those who aren't employed but are entrepreneurs or startuppers can obtain a work and residence visa. Once again, to ensure you follow all the steps carefully and avoid making mistakes that could ruin your life plan, it's best to consult specialized consultants.
