With its rapid expansion, increasing number of jobs, and attractive, tax-free salaries, the United Arab Emirates (UAE) has become a major expat destination.
If you are moving to the UAE, however, you should to pay attention to all the financial and legal obligations you can complete before you get there. This guide will help you navigate the processes; and make your move a successful one.
Visas and work
If you have a British passport, you can enter the UAE for 30 days on a temporary tourist visa. Upon request, these can be extended to 90 days.
However, it is not advisable to enter the UAE to seek employment, with the UAE embassy website explicitly stating: “Persons entering the UAE as visitors are not permitted to take up employment.” (However, if you do find a job whilst on a visit visa, you can leave and re-enter the country to complete the visa.)
Generally, for longer visits or employment in the region, or to immigrate to Dubai, a permanent visa is required – with the easiest route having a job lined up so your employer completes the process for you.
If you want to take your family with you, you will need to check whether your employer in Dubai is sponsoring your family. If not, you should contact the UAE embassy in the UK.
Transferring funds
As well as opening a bank in the UAE (which can be done from abroad), you will need to transfer your assets.
Using a high-street bank to transfer this money may not be the best option, as a bank may charge unfavourable exchange rates.
You should therefore check with a number of online currency transfer companies to ensure you are getting the optimal deal.
Setting up a will
As the laws of the UAE follow Sharia (the religious law of Islam), it is imperative you ensure your current will can be accepted by the UAE authorities.
If it cannot, affairs after a death will follow Sharia law. This can mean a surviving wife may only receive 1/8 of her husband’s assets, or children may be taken into care whilst the affairs are set in order, rather than automatically being in the care of the surviving spouse – rules many expats do not wish to follow.
To ensure your affairs are conducted in the way you want them to, you should speak to an independent financial advisory regulated by the UAE, such as Acuma – the Gulf’s premier advisory firm.
They can not only ensure your will is a legally excepted document in the UAE, but advise you on the complete financial picture of moving to the Gulf.
