The Cost of MOVING to DUBAI - Visa, Housing & Everything Else You Need to Know
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- Опубліковано 19 чер 2024
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Everyone looks at monthly cost of living when moving to a new country but no one thinks about the initial set up cost. In this video, we detail what it cost us to set up in Dubai.
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About us
We're Ibrahim & Mohsin - ex-city lawyers and authors of "Halal Investing for Beginners". We've been studying investments and the traditional Islamic sciences for 13+ years. Over the year we've been published by the Financial Times, the World Economic Forum, Foreign Policy etc.
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TIMESTAMPS
00:00 - What's this video about?
01:00 - Expense 1
01:30 - Expense 2
02:04 - Expense 3
02:40 - Expense 4
03:18 - Expense 5
04:11 - Expense 6
04:32 - Expense 7
05:17 - Expense 8
06:05 - Expense 9
06:20 - The grand total
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We are two Oxford grads who have studied Islamic finance both at uni and classically for over 6 years. We quit our corporate law jobs to go full-time on IFG in 2020. We are on a mission to help 25% of the world's population with their personal finances.
Islamic Finance Guru (IFG) is an Islamic finance comparison and analysis site that helps people with their investment, personal finance and entrepreneurial journeys.
We do this for one reason: to make our community better-off. We want to take Muslims from being among the poorest in society to the richest. We think that this is the most effective way to deal with problems like discrimination, under-representation and poverty. For more about the team visit: www.islamicfinanceguru.com/ab...
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#dubai #movingtodubai #abudhabi #taxsaving #shariacompliant #ifg #islamicfinance #halalinvesting #costofliving #monthlyexpenses #costoflivingindubai - Розваги
I moved to Dubai in August 2022 - I just paid for flights. Stayed in hotel for 4 months - that was a bit costly but reasonable with my salary. Company sorted visa and health insurance. Alhamdulillah it was pretty easy for me as I was on my own.
Fair assessment for what I'd consider a high-income or high net-worth, entrepreneurial individual, not your average employee working for a company (who form the majority of expats). This is one BIG point the video doesn't seem to highlight: that unless you're on your own as an entrepreneur, most companies actually cover a lot of the expenses spoken about:
1. Companies will almost always pay to fly you in (and fly you back when you done working for them), and annual tickets to 'home' are normally baked into employment contracts as a benefit for employee and family.
2. Ditto for visa costs - Since the company is 'sponsoring' you, they will almost certainly cover visa costs. They're also likely to cover your family visa costs but this is again a benefit and needs to be negotiated with your employer.
3. Health insurance - Legally the sponsor is liable for ensuring you have adequate health insurance and therefore will pay for the employee's insurance. Since you sponsor your family, legally you're required to purchase insurance, but companies normally get you benefit off of a pre-negotiated rate with partner insurance providers which is better than market rates available to the public.
The main exceptions to the above are if you're joining a start-up or relatively small / unknown private company or an entry-level position, in which case I wouldn't recommend you come to the UAE purely because of a tax-free salary. Hope this helps!
Alhumdulillah, very helpful
This is excellent thank you
Can you please also mention about the costs involving setting up a company in the UAE like LLC and the cost of finding a local Emirati sponsor.
Something about this triggers me. You mentioned that child care cost is cheaper and easier to find. However, hiring in-house nanny (although it is common practice, also in my country) is not the most sustainable solution. I would advise you to take precaution in having someone not from your family member to live in the same house with your family. The nanny itself is very vulnerable (from being overworked to abuse) and they don't have much option and they are also have limited education. All in all, i digress in that one point. Having meal prep, both parents taking care of their children along with tech kitchen stuff may be more sustainable than hiring in-house nanny.
All pretty standard however i think the accommodation cost could be half of your estimate for 2 or 3 bedroom's in Dubai.
but my main question is how much is gonna be the apartment cost cz bayut doesn't show the actual one so from searching to buying one how much would be the roughly cost
yeah the price may very but at least one guided video would be nicer
The health insurance figure of 10000 AED, is that monthly or annual and is it per individual or family?
Health care is paid per month or once a year?
As Salaamu Alaikum Mohsin. I’m coming to Dubai soon for a week. Can you name some good places to eat who use genuine halal locally slaughtered chickens and meat like we have HMC here in UK. This is my only concern.
Jazak Allahu Khair
can you reccommend any schools in dubai for pakistani children as ive heard alot about bullying
is the total set up costs for 4 people ? or one person?
What if your just a regular wanting to live there?
That's just too much cost - something for upper class and CEO'S wage to afford not your the average working person.
You missed out all the additional bills, AC, Electric, Gas, there is a percentage charge paid to the electric company which is based on your annual rent. You missed education cost in your final breakdown at the end. Eating out and entertainment can be costly depending where you want to go. Then there is outside school clubs and activity for kids. Most accomodations will have community gyms and pools but if you dont have this then you need to factor that too. Parking, Tolls for travelling between different Emirates and travelling for work during peak hours. Yes it does sound expensive but if you live within your means and not like the Joneses you should be OK.
Finally, drive safe as traffic fines are not small here :)
Thanks for this Shakeel, very comprehensive! School fees are in the final total. My DEWA estimate included AC, electric, water (as that's how mine is paid, I don't pay cooling fees or anything extra). The charge to Dubai Municipality I did miss off which is 5% of annual rent, paid monthly.
Correct on all the other stuff but it's very personal and unique to everyone and only so much to pack into a video!
Appreciate the support!
Thanks for the insight and the breakdown of this, I am a Muslim with a fairly decent job but when considering all of these expenses and various types of obstacles I am having seriously hard time understanding why someone from Western countries would move to UAE? Factors such as variety of food/ culture etc is far greater in Europe
Europe is dead, it's expensive, controlled by the E.U. and dangerous. Plus, the tax is astronomical!
guys is it really worth it? all these costs tell me to look at alternatives such as Malaysia
With the breakdown provided in video, i'll say No.
It's worth it, if you're in a relatively high-income bracket. Dubai is not cheap; but if you're looking for a safe city to live and bring up kids in, there are very, very few places in the world that can compete.
Hello! Which one is your instagram adress? There are three and I think 2 of them are scammers. Which one is the true one?
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