Revealed: Why UAE best residence option in the world
23 residency programmes evaluated worldwide
By Majorie van Leijen
Published Monday, October 05, 2015
The UAE is among the best immigration destinations when it comes to residency programmes, according to M/Advocates of Law, a law firm specialised in immigration.
The company recently released its 2015 comparison chart including 23 residence programmes over the world.
The UAE is a very good option due to the absence of income tax and tax filing, claimed Yann Mrazek, Managing Partner of the Law Firm M / Advocates of Law.
“These factors are among the things that people take in consideration when relocating. While most people do not mind paying a form of tax, they often do not like the hassle of tax filing and the paperwork that comes with that. Whereas countries such as Switzerland are fairly bureaucratic when it comes to tax filing, there is no such obligation in the UAE.”
Added to this is the quality of life factor, which is considered to be preferable in the UAE.
“There are other places in the world where residents are exempted from paying taxes, such as Monaco and the Bahamas. However, the UAE is not just some beaches. It is a cosmopolitan city with good facilities and a good health care system. Added to that is that Dubai is easy to access, as it is no longer a place in the remote Middle East. Nowadays Dubai is considered almost next door by many.”
According to Mrazek people increasingly opt for emerging countries as an immigration destination, while traditional jurisdictions such as the UK, Switzerland or Singapore appear to be losing ground in terms of applicant volumes.
This is especially true for the European immigrant, Mrazek explained.
“Some emerging countries have become more accessible and easy to live in. The quality of life in such countries draws immigrants to these places, especially immigrants from Europe. Asia has become increasingly popular with countries such as Malaysia and Thailand on the immigration map,” he said.
“These countries are very cheap, have a good quality of life and a nice climate all year round. For some Europeans these are the ideal places to retire, for example.”
Both countries offer visa options for immigrants above the age of 50. While Malaysia runs an investment programme with a tier for those older than 50 years, Thailand offers two types of retirement visas.
Apart from Asia, places like the Bahamas and Panama are interesting for European immigrants, said Mrazek.
“These places not only offer quality of life and a sunny climate, but are also geographically interesting as they are close to the United States. Some people have children studying there and want to be near, but could not get a residency permit so they opt for locations such as these.”
Whereas emerging countries attract the European immigrant, European jurisdictions continue to attract immigrants from emerging economies, the chart pointed out.
Countries such as Portugal, Spain, Malta and Cyprus offer residency programmes granting an EU status to non-EU nationals with a possibility of gaining citizenship at some point.
These are popular destinations for third world immigrants, according to the chart.
Although interests vary according to place of origin, the UAE remains a popular destination for immigrants from both worlds, said Mrazek.
The chart compares residency programmes around the world, which should be distinguished from citizenship programmes.
The chart does not rank the jurisdictions but rather describes the main benefits as well as obdtacles of each country for immigration.