Should you move to Dubai as an entrepreneur for 0% taxes, lifestyle, networking?

Summary

In this video, Hamza shares his personal experience moving to Dubai as an entrepreneur, highlighting the pros and cons. He discusses the thriving entrepreneurial culture, safety, and tax benefits, but also addresses the city's degenerate aspects, high cost of living, and social comparison issues. Hamza's narrative includes his disillusionment with Dubai's facade and his eventual decision to return to the UK, emphasizing the importance of personal growth and freedom over financial benefits.

Takeaways

• 😀 Hamza shares his personal experience of moving to Dubai and London, emphasizing the importance of personal safety and impressions of the cities.
• 🏙️ He initially moved to London but was unimpressed by the city's safety issues and cleanliness, which influenced his decision to move to Dubai.
• 🇦🇪 Hamza's first impressions of Dubai were positive, noting its cleanliness, safety, and entrepreneurial culture.
• 🤔 He suggests trying out a location before making a full commitment, as he did by staying in an Airbnb in Dubai before deciding to move there for business.
• 💡 The video highlights the benefits of Dubai, such as the strong entrepreneurial spirit, safety, and the prestige associated with living there.
• 🚫 Hamza discusses the downsides of Dubai, including the high cost of living, the presence of 'degenerate' elements contrary to its Muslim city image, and the human rights issues.
• 💰 He points out the misconception about taxes, explaining that while Dubai has 0% tax, the overall cost of living can offset this benefit.
• 🔄 Hamza eventually decided to move back to the UK, valuing the quality of life and personal growth over the tax benefits of Dubai.
• 🌍 He recommends considering other locations like Thailand, Bali, or Singapore for their wholesome environments and opportunities for entrepreneurs.
• 🏡 Hamza concludes by advising that moving away from home can foster personal growth, but one should consider the full implications, including tax residency and lifestyle fit.
• 📚 The script serves as a cautionary tale for young entrepreneurs, urging them to make informed decisions based on a holistic view of potential locations for business and life.

Q & A

Why did Hamza initially decide to move to Dubai?

Hamza decided to move to Dubai because of the positive influence of people like Andrew Tate and Eman, who portrayed Dubai as a safe, entrepreneur-friendly environment with 0% taxes.

What were Hamza's first impressions of London?

Hamza's first impressions of London were negative. He found it dangerous, with instances of robberies and violence, and he was unimpressed by the cleanliness and the cost of living.

What advice did Hamza's father give him before moving to Dubai?

Hamza's father advised him to visit Dubai first, almost like a holiday, and live there temporarily to see if he really liked it before committing to moving and setting up a business.

What was Hamza's experience with the entrepreneurial culture in Dubai?

Hamza found the entrepreneurial culture in Dubai to be very vibrant, with many like-minded individuals. However, he initially didn't appreciate the focus on making money and later realized the value of charging more for his services.

Why did Hamza eventually decide to leave Dubai?

Hamza decided to leave Dubai due to various reasons, including the high cost of living, the realization that the 0% tax benefit might not be as significant as he initially thought, and the degenerate aspects of the city that contradicted his expectations.

What misconception did Hamza have about Dubai before moving there?

Hamza had the misconception that Dubai was a non-degenerate Muslim city, but he was surprised to find a high presence of prostitution and degenerate behavior.

What was the impact of Dubai's high cost of living on Hamza's financial situation?

The high cost of living in Dubai affected Hamza's financial situation negatively. Despite the 0% tax benefit, his expenses were so high that he barely had any profit left to be taxed on.

How did Hamza's perception of status and comparison change after moving to Dubai?

In Dubai, Hamza realized that he was no longer the 'big fish in the small pond' and felt the pressure of comparison, which made him feel insecure and less satisfied with his status.

What ethical concerns did Hamza raise about Dubai's treatment of foreign workers?

Hamza raised concerns about the poor treatment of foreign workers, particularly from India and Pakistan, who were often exploited and treated as slaves, with their passports taken away and being subjected to harsh working conditions.

What alternative locations did Hamza suggest for entrepreneurs considering a move?

Hamza suggested alternative locations such as Thailand, Bali, and Singapore for entrepreneurs. He mentioned that these places offer a different vibe and may be more suitable depending on personal preferences and values.

What was Hamza's final decision regarding his residence and business?

Hamza ultimately decided to move back to the UK, despite the initial plan to set up his business in Dubai. He felt that the benefits of living in his home country outweighed the tax advantages of Dubai.