What living in Dubai is actually like

Summary

In this video, the creator shares his experience of moving to Dubai, highlighting the ease of relocation through company establishment and visa approval. He emphasizes the significant financial benefits of the 0% income tax and the straightforward process of opening a business and bank accounts. The creator also discusses lifestyle adjustments, the cost of living, and the city's safety, comparing them to his life in the UK. He touches on the social scene, making friends, and the misconceptions about Dubai's party-centric image, painting a picture of a city that's both a business hub and a family-oriented environment.

Takeaways

• 😀 The speaker moved to Dubai from the UK and found the process of setting up a company and obtaining a visa straightforward due to hiring a professional service.
• 💼 Dubai offers a 0% income tax rate, which can significantly increase take-home pay compared to high-tax countries like the UK.
• 🏦 Opening a company and a business bank account in Dubai was simple for the speaker, who values the ease of handling multiple currencies.
• 🌐 The speaker uses WorldFirst for managing global business finances, appreciating its features like same-day payments in multiple currencies and low FX fees.
• 🏡 The cost of living in Dubai is generally cheaper than in major Western cities, especially considering the absence of income tax.
• 🛋️ Furniture and white goods are notably affordable in Dubai, which was a pleasant surprise for the speaker.
• 🏠 The speaker chose to rent a spacious villa in a family-oriented community, despite the high rent, for the quality of life and security it offers.
• 🔐 Dubai is considered very safe, with strict laws and a low crime rate, allowing for a carefree lifestyle.
• 🌡️ The heat is a significant adjustment for someone from a cooler climate like the UK, but air conditioning is ubiquitous.
• 🤝 Making friends in Dubai is easier for the speaker due to his social media presence, allowing him to connect with like-minded individuals.

Q & A

Why did the speaker move to Dubai?

The speaker moved to Dubai for a change of lifestyle, to experience living in a different country, and to take advantage of the 0% income tax.

How did the speaker establish residency in Dubai?

The speaker opened up a company in Dubai, which then submitted a visa application for them, allowing them to move to Dubai.

What was the speaker's experience with the process of moving to Dubai?

The speaker found the process of moving to Dubai fairly simple, as they had someone else handle the company setup and visa process for them.

What is the impact of 0% income tax on high earners in Dubai?

The 0% income tax in Dubai can potentially double the income of high earners compared to what they would take home in countries with high tax rates, like the UK.

How does the speaker manage their finances with multiple currencies?

The speaker uses WorldFirst's one world business accounts to manage multiple currencies, which allows for same day payment arrival in over 90 different currencies.

What are some lifestyle differences the speaker has noticed between the UK and Dubai?

The speaker's lifestyle hasn't changed much, but they've noticed that people in Dubai are very friendly and the cost of living is generally cheaper compared to major Western cities.

How did the speaker move their belongings from the UK to Dubai?

The speaker used a company called Pickfords to move some tech items and gadgets, but mostly started fresh in Dubai by buying new items.

What is the speaker's opinion on the safety in Dubai?

The speaker finds Dubai to be extremely safe, with very low crime rates and strict laws that contribute to the overall sense of security.

How does the speaker feel about the Westernization of Dubai?

The speaker is pleasantly surprised by the Western feel of Dubai, with familiar brands and services, which makes the transition easier for someone coming from a Western country.

What are the speaker's thoughts on the cost of living in Dubai?

The speaker believes that the cost of living in Dubai is cheaper than in major Western cities, especially when considering the absence of income tax.

What is the speaker's strategy for dealing with Dubai's hot climate?

The speaker plans to travel during the hottest summer months to avoid the extreme heat and take advantage of the quieter period in Dubai.