One of the best countries for expats to 'build wealth' as interest in residency soars by 420%
Interest in moving to Dubai appears to be increasing
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Many Britons move to the United Arab Emirates for year-round sunshine and better financial opportunities.
One area that has seen its popularity skyrocket in recent years is Dubai, where profits are being fuelled by the evergrowing oil trade.
The Emirate represents a global amalgamation of cultures since it started attracting visitors from across the world.
It has also earned its reputation as an idyllic destination for British citizens because it offers a high standard of living.
Residents living in Dubai don't get taxed on their income
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In fact, there are currently an estimated 240,000 British expats living there, but the number is expected to grow.
John Mason International Mover reported a 420 per cent increase in enquiries from British nationals looking to relocate to the UAE in the past five years.
According to the relocation experts, the trend became particularly noticeable in the 12 months leading up to March of this year.
A major perk for residents who move to Dubai is that they do not pay taxes, giving them more disposable income at the end of the day.
The city’s tax-free income policy is also a game-changer for retirees, allowing them to retain 100 per cent of their pensions and savings.
"Because Dubai has no income tax, employed expats who live there will be able to boost their savings and enjoy the benefits of having more money to splurge," explains Pacific Prime.
While Arabic is the official language of the UAE, English is widely spoken and understood in Dubai, making integration easier for newcomers.
A neighbouring country in the Middle East that is gaining a lot of traction from expats is Qatar, which offers many comparable perks to the expat community.
Foreigners are welcome to retire in the nation as long as specific visa and residency requirements are met.
In a recent YouTube upload, British national Lámidé Elizabeth broke down various aspects of the Middle-Eastern destination and discussed how they may benefit expats.
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Dubai's popularity has skyrocketed in recent years
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"One of the reasons I really wanted to go to Qatar is because it’s a country that has zero per cent person income tax, compared to 45 per cent where I’m from, which is the UK," Lámidé said.
"Qatar is a small Arab state nested on the cost of the Arabian peninsula and is meant to be the richest country in the world per capita as well as one of the safest countries in the world."
She added: "In my opinion, just like in Dubai which is where I live, Qatar could be a very good place to build wealth."
Another benefit of being a working expat in Qatar is the accommodation arrangements, which are generally paid for by companies.
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