New personal laws in the UAE but what do they really mean for you?

I am sure most people have seen the articles about some significant legislative changes in the UAE with changes to the penal code and personal status laws and these are very positive in all respects. In this article, I want to explain what this actually means in relation to the financial issues, as headlines are not always quite what they seem and there are subjects that still need to be considered and addressed by expats, especially in terms of the distribution of assets in death.

Let’s address the various points in turn.

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What has a financial adviser ever done for you?

Paraphrasing Monty Python, purely to get your attention, but it’s a valid question. I am in an industry that is frequently criticised in the UAE, often for good reason, but let me explain why using a qualified adviser (rather than a salesperson pretending to be an adviser) is a good thing and how you can benefit.

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Five Financial Tips for New Parents

When you have a child, you get lots of advice and tips from everyone but one area that tends to be overlooked is the financial aspect. In the excitement of impending parenthood, or the crazy first few months (or years!), you can forget this essential topic so this article is designed to be a useful guide to some of the issues you need to consider.

Multiple surveys have put the cost of raising a child at eye-watering levels over their first 18 years and expats working in the UAE have the added cost of education and medical bills to contend with. Let’s look at some of the financial practical steps you need to consider.

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10 Steps for Smart Investing

The financial services industry is full of jargon and sales messages so sometimes it can be difficult to separate fact from fiction, the reality from the adverts and the sales pitches. With that in mind, I have put together a simple guide to 10 practical and logical steps you need to follow when investing.

It is too easy to sidetracked from planning your future, our lives are busy after all,  but it rarely needs to be as complicated as some might make out. My role is to make this simpler, and better, for you.  Continue reading

New to Dubai? Important facts & financial information

Welcome to Dubai and a new and exciting life. There is a lot to learn and while this is not a complete guide to setting up in Dubai, it does give you a useful overview of many of the financial and legal issues that new residents need to be aware of.

The laws have changed a number of times in recent years and this article is regularly updated to take these changes into account.

Your ability to live in the UAE is linked to employment and it is impossible to rent a property (apart from on a short-term basis) without a residency visa and accompanying identity card.

These will be provided by your employer or as part of the package when you set up a trade licence if you wish to have your own business. There are now a few other visa options but you still need a visa to reside in the UAE.

Having an identity card is mandatory and you will be unable to do many things without it.

You also need a visa and ID card to buy a car, rent a property, get a UAE driving licence, get an alcohol licence – still a legal requirement for Dubai residents if you want to buy alcohol anywhere and or keep alcohol in your home although there are no charges these days and you getget your licence online in minutes.

Children require an ID card to attend school.

The rules can vary between emirates, and although the main legal issues are correct for all, this guide is mainly for Dubai residents.

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Can you afford to survive a critical illness?

I have two simple questions for you. Could you and your family survive financially if you suffered a serious illness and were unable to work? Even if you could, would it decimate your savings and future plans?

Being diagnosed with cancer, heart disease or having a stroke is something you don’t expect and is often a matter of bad luck, but you can take steps to make sure you and your family can manage without any financial problems, taking away a major cause of stress.

Let me tell you about a true story. This happened to a client of mine.

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Is your family financially protected if you die? Six common errors.

If you die and leave your family behind, you can’t stop the heartache, but you can make sure that they don”t have financial worries, that they can stay in their home or have enough money to relocate, and that your children can continue their education. Protecting your family in this way, should the worst happen,  is one of the kindest things you can ever do for them.

There are various reasons why people don’t take out life cover so in this short article I want to address some of these.

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Moving from the UAE to the UK? Do you have a proper financial exit plan?

When you relocate from one country to another there is a great deal you need to think about. These include the practical problems of shipping your possessions, finding a place to live, finding new schools for children, new employment and so on.

No doubt you will have lists of things to do but one area that is often overlooked is the financial side. It may not be exciting but you need to be aware of these issues to avoid any nasty surprise tax bills, especially in respect of UAE income or offshore investments.

Getting it right will save you money. Getting it wrong can be expensive.

I provide an exit planning service for people relocating to the UK and this professional service, with a personalised advice and a written report you can refer back to, can save you both money and headaches.

This article was updated in April 2024 so please see the latest version:

Moving from the UAE to the UK? You need a financial exit plan.

 

If you are unsure as to whether a move to the UK is right for you, I work with a expert counsellor who supports expats in making life decisions. She has the personal experience to give you the guidance to make the right decisions for you and your family. Contact me for a no-obligation referral.

I am a highly-qualified and experienced Independent Financial Adviser with over 30 years of experience, the last 18 in the UAE and prior to that in the UK. I provide a fee-based personal financial planning service to expatriates resident in the GCC. I also comment on all kinds of financial isues in  The National  newspaper and have a regular column where I answer reader  questions. You’ll see my name in other UAE publications from time to time.  My business motto is proper advice for nice people.

Please take a look at the many other useful articles on this website.

 

leaving dubai

 

Cost-effective currency transfers – secure & safe

This article has been updated with effect from 28th August 2023.

Please see here for the latest version:

Currency transfers – how to get the best rates with full security

 

 

Where there’s a Will there’s a way to protect your family

Due to changes in legislation, this article has been updated and rewritten to so please see the latest one.

Where there’s a will, there’s a way to protect your family

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