I would vote for Abu Dhabi over Dubai. It's more green and I would say has a bit more culture about it. I lived there for 18 months, and saved up enough money to pay off my student loan and my wedding. It also gave me a good acceleration in my salary when I returned to the UK (I work in the O&G sector, or Energy sector as people call it these days (less dirty)).
I'd have stayed there for longer had I not met my now wife 3 months before I was due to move out there.
I read your note from Bermuda after a career in Canada. After advising companies and individuals for decades on tax planning, I took advantage of it myself. No income tax in Bermuda or Caymans, both British Overseas Territories and both very close to culture (NYC for us, Miami for Caymans). Superb health care, good schools, limited government. So if Dubai is not for you, there are other choices.
My sister in law and husband spent 5 years in Dubai, coming back about 10 years ago. Financially, it made them - they are mortgage free in their early Forties.
They had their first child out there and whilst the culture, what there is of it is questionable and the way it has been developed would not wash in the West, the healthcare is superb and their is virtually no crime, ideal for a young family or anyone for that matter, and in stark contrast to this country.
I know a pair of lawyers (late-20s and early-30s) who are earning (pre-tax) more than anyone else I know but are still living with their parents. They too are plotting their move to Dubai to escape income tax and the crime.
Starving the beast is always a good idea. I don’t know how the UK handles it, but American citizens will still be charged US taxes on anything earned overseas. You can renounce your citizenship, but that comes with a lot of other issues and the government still takes a massive one time tax payment in order to square with them before your citizenship is terminated.
It really is the most sensible option for young brits. It’s not acceptable for single adults to be forced to be living with their parents for 30-35 whilst they save up money to afford a deposit and further they careers so they can pull a higher salary and thereby gain access for approval for a mortgage for a home.
Also their parents don’t want the kids at home! They want their free time too!
I would vote for Abu Dhabi over Dubai. It's more green and I would say has a bit more culture about it. I lived there for 18 months, and saved up enough money to pay off my student loan and my wedding. It also gave me a good acceleration in my salary when I returned to the UK (I work in the O&G sector, or Energy sector as people call it these days (less dirty)).
I'd have stayed there for longer had I not met my now wife 3 months before I was due to move out there.
I read your note from Bermuda after a career in Canada. After advising companies and individuals for decades on tax planning, I took advantage of it myself. No income tax in Bermuda or Caymans, both British Overseas Territories and both very close to culture (NYC for us, Miami for Caymans). Superb health care, good schools, limited government. So if Dubai is not for you, there are other choices.
My sister in law and husband spent 5 years in Dubai, coming back about 10 years ago. Financially, it made them - they are mortgage free in their early Forties.
They had their first child out there and whilst the culture, what there is of it is questionable and the way it has been developed would not wash in the West, the healthcare is superb and their is virtually no crime, ideal for a young family or anyone for that matter, and in stark contrast to this country.
If it’s available, why not take advantage of it.
I know a pair of lawyers (late-20s and early-30s) who are earning (pre-tax) more than anyone else I know but are still living with their parents. They too are plotting their move to Dubai to escape income tax and the crime.
Lovely stuff. Yes. Young people should leave and choose another country. One caveat though kids. Don’t pick Scotland.
Starving the beast is always a good idea. I don’t know how the UK handles it, but American citizens will still be charged US taxes on anything earned overseas. You can renounce your citizenship, but that comes with a lot of other issues and the government still takes a massive one time tax payment in order to square with them before your citizenship is terminated.
It really is the most sensible option for young brits. It’s not acceptable for single adults to be forced to be living with their parents for 30-35 whilst they save up money to afford a deposit and further they careers so they can pull a higher salary and thereby gain access for approval for a mortgage for a home.
Also their parents don’t want the kids at home! They want their free time too!
What do you think of Isle of man as an alternative if we aren't willing to fully give up true English culture...Dominic....?