Relocating to the UAE? This is what you must know
Moving out of the place you have called “home” your entire life is a difficult decision. But certainly, one worth taking, given the circumstances. If you are planning to relocate to one of the most extraordinary countries in the world, then there are a few elements that you need to pay heed to. Read on as we provide you a complete guide as to what you must know before relocating to the UAE.
The difference between individual emirates The UAE is made up of seven emirates that gained independence and formed the country in 1971. If you are moving to the UAE then it is worth knowing the basics. You see, each emirate differs from the next based on what they bring to the table. For instance, Abu Dhabi and Dubai are considered ideal for work purposes.
However, if someone wants to move forward towards a more sustainable lifestyle, then Sharjah would be a better fit. With its astounding 3BHK villa for sale in sustainable city, it stands as one of a kind. Abu Dhabi contains the most prominent place of worship in the country, the imposing Sheik Zayed Mosque in Abu Dhabi City. It is also one of the biggest contributors for UAE’s economy. With its spectacular business correspondences, Dubai ranks as a significant business hub worldwide. Sharjah, on the other hand, is surpassing standards with its real estate game plan.
Real Estate Options Before you relocate to the UAE, you will need to know about the options you are playing with. We picked out the top 3 available in the market. Depending on your need and affordability, you can choose;
Condos A condominium (or condo) is a salable unit inside a large community; it could be a high-rise building. These can be a good option if you want to keep your home maintenance to the bare minimum. It is also an ideal option for first-time homebuyers, singles, old homeowners, or individuals who tend to travel often. The difference between a condo and an apartment is that you own a condo instead of renting it.
Townhouses Compared to a single-family home, townhouses tend to be much cheaper in nature. The modern townhouses tend to have reasonably small footprints with shared exterior walls with neighbors. Some are equipped with small yards and patios as well. In the UAE, homeowners often prefer 3 BHK Townhouse Villa based on their aesthetics and affordability.
Villa Staying in a villa has often been associated with a wealthy class of society. Unlike a small house, these are built on large land, which is sufficient provision for a high standard lifestyle. Real estate developers have also started relating Villas to luxurious properties with significant capital investment and high end-security features.
Investment Variety Before moving to the UAE, you should be very well aware of the investment options that you have. After all, maintaining a top-notch standard of living won’t come easy. Investing a portion of your monetary funds is always a good choice. Some investment options that you can enjoy in the UAE include;
Stocks A stock is a portion of a company’s capital that an individual and institutional investors can choose to own. If you purchase a stock, you have a portion of the company. Stock ownership can contribute to your monetary funding with dividends and appreciation in the stock price. Not to forget, it is a popular investment choice in the UAE.
Bonds A bond is a debt instrument that government and corporate companies can use to raise money. You can earn by bonds through interest payments and growth in the bond value. There exist three significant forms of bonds. These include corporate, Treasury (national), and municipal bonds.
Real Estate Investing in the real estate market is another popular option for foreigners and natives within the UAE. In fact, throughout the world, one of the most blooming markets is real estate. In the UAE, Dubai and Sharjah are the most eminent real estate market holders. The cherry on the top is that these are equipped with top-notch property options to choose from.
Sustainability and Atmosphere One of the most attractive features of the UAE is the fact that it is keeping pace with the sustainable living standards that have been high in demand around the world. In Sharjah, developers have been guided to implement “green” building regulations when developing new commercial and residential buildings. The law is basically part of an official campaign to conserve energy within the emirate.
So, you can choose from a wide variety of sustainable villas for sale near Sharjah. The environmental-friendly elements that the government plans to implement include sustainability of the site, conservation, and the management of energy and water. The value-added real estate of the emirates will be top-notch in nature.
Living Expenses of the UAE Living in the UAE is not cheap, and you should keep this in mind before relocating. If you come from a big city like London or Los Angeles, then you are obviously prepared for the pricing. Just make sure that your salary matches your lifestyle. A complete calculation can help you, which should include the income taxes of the UAE. You will need a long-term financial plan as well. Some research to do includes; ● Bank accounts – Research the banking options you have in the UAE which will best suit your need ● Pensions, taxes, and investments – Before moving to the UAE make sure your pension is transferable. Look at the options of assets that are available to you and choose the best one that fits your needs. Moreover, thorough research of the tax system in the UAE will also come in handy.
In a nutshell, Relocating to the UAE can feel like a monumental decision in your life. Given the reasons and circumstances, it may also be lucrative. Before you do, however, just make sure that the elements discussed are kept in mind. Some of the crucial factors you need to remember include investment and living options. Safe Travels!