Six Reasons Why Now Is The Time To Relocate To The UAE
The UAE has been one of the most popular places og foreign residents and business people. The reputation is only growing due to several recent government initiatives. Here we discuss the seven most impactful things to prove for relocating and doing business in the UAE right now.
The Benefits to Relocate In UAE.
- Freeze on Government Fees
In February this year, the UAE government decided to freeze federal fees after 3 years of moving to live in the UAE. This decision comes in the context of the introduction of 5% VAT earlier intended to bolster UAE revenues following low oil prices. The fee-free is the perfect counterbalance, promoting continued prizes. Sheikh Muhammad Bin Rashid Al Maktoum said this decision: We decided not to increase federal costs for the next three years to strengthen economic and social ability. This decision also supports our industrial and commercial and attracts many foreign to invest and relocate in uae.
- Economic stimulus package in Dubai and Abu Dhabi
In April 2023 announced a wide range of stimulus package designs to boost Emirates’ attractiveness to investors for lowering costs for business. A notable inclusion is the introduction of a council to represent the interests of international companies to operate in Dubai and the commitment to allocate 20% of government contracts to SMEs. There are ways to help businesses, like reducing fines and fees, offering new payment choices to manage costs, and reviewing laws to make foreign investment in real estate more appealing. If you’re considering relocating to Dubai, There is no better time than now.
- Dubai freezes school fees
Big economic plans help businesses operate more efficiently, which affects the money they earn. But, the good news for many parents is that the cost of private school fees will not increase for the 2018-2019 school year. This comes in the wake of nearly 5% free hikes in the years 2017-2018 in many schools. A recent report “Doing Well, Being Well: The Health and Happiness of Dubai’s Private Schools” finds that nearly 27,000 AED and private schools make 7.5 AED billion each year. This decision to stop increasing fees will make sure that excellent education is accessible to more students, and parents will know exactly how much they need to pay
- 100% foreign ownership and a 10-year visa
In May, the UAE government said they will give a special visa to foreign investors and professionals in medical, research, science, and technical jobs. This visa will be valid for ten years. These visas are also valid for families and long-term immigrants within the Emirates, especially those working in entrepreneurial or research-based fields. Sheikh Mohammad Bin Rashid Al Maktoum announced: The UAE will keep nurturing extraordinary talents from around the world and will always welcome international investors.
- Changes to UAE employment and visa rules
Before, private companies had to pay 3,000 AED when they hired their employees, which discouraged hiring and fewer job opportunities. But now. UAE has a new where only pay 60 AED per employee to cover various costs like insurance and holidays. This change foreign relocation to Dubai for more hiring opportunities and less expensive for an employer in UAE. It also benefits individuals by making it more affordable and easier to come work in the country
- Dubai Land Department waives penalty fees
Land development is a thriving area of investment. Still, as Global Capital Partners managing director Sameer Lakhani points out, “to streamline private sector activity,” the Dubai Land Department (DLD) is urging all properties to be registered in order. is required. As such, the DLD introduced a late registration penalty of 4%-of-value if buyers or developers didn’t register units. Despite an extension from an end-2016 deadline for registration to Q1-2017, many still need to register. In June this year, Sheikh Hamdan Bin Mohammad Bin Rashid Al Maktoum directed the DLDt to waive this penalty to encourage all land developers and buyers back into the fold.