Tag Archives: Becoming an expat in the UAE

Five Financial Tips for New Parents

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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

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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

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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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A survey – how has your UAE income & financial situation been affected by Coronavirus?

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I am sure we are all well aware that the restrictions related to COVID-19 have meant that the income of many people in the UAE has been affected.  In order to find out the extent of this I have put together a quick survey and would appreciate as many responses as I can get as the more people who answer, the more valid the information.

Survey here: UAE Income & Coronavirus – June 2020

All responses are anonymous.

The results will be discussed in my weekly segment on Capital Radio UAE on 21st June at 6pm and I will share many of the results on this website too.

The survey will only take a couple of minutes and I appreciate all answers. Please share this too as the more answers I get, from different groups of people, the better.

Thank you for your time.

 

I write articles such as this one as part of the holistic personal financial planning service and that I provide to expats, and the general consumer, financial and legal information that I provide in The National newspaper, on Capital Radio UAE, and on the Facebook group British Expats Dubai. I do not provide an employment advisory service to individuals, only via my newspaper column and radio show.

To arrange a meeting to discuss any aspect of your personal financial planning, please email me at keren@holbornassets.com     Please take a look at the other useful articles on this website.

 

 

 

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

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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

Thank you

 

 

News: Tax update for expats unable to leave the UK

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HMRC (Her Majesty’s Revenue & Customs) has announced that it will be giving special treatment to non-residents who are forced to stay in the UK exceeding their permitted number of days. With quite a few expats unable to leave due to closed borders and lock downs, I was expecting an announcement and this is helpful news.

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UAE Insolvency law – overview & information

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In November 2019, the UAE Government announced a new law for personal insolvency, to assist people with debt problems, and this has now come into effect. This is a real game changer as it will give people in difficulties an opportunity to repay what they owe with manageable payments and removes the threat of jail time.

In this article I will cover some of the main points and requirements but I will also update it, if and when there are any changes.

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Expats in The UAE & Money. 10 mistakes you want to avoid

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This articles has been update so please see the below link for the article from August 2024

Living in the UAE. 10 major money mistakes you want to avoid

Living in the UAE. 10 major money mistakes you want to avoid

 

 

 

UAE Public Holidays for 2020

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These are the official dates of public holidays for the UAE for the coming year, as well as notable dates, so you can make a note in your diary now and plan ahead. Actual days of holiday for both the public and private sector should be the same and these are the dates announced by the UAE Government.

As usual, dates of Islamic holidays will be subject to slight variation, dependent on moon sighting, and others may also change.

With this in mind, this article will be updated throughout the year as any changes are announced.

 

 

 Occasion Date Day of the week No. of Days
New Year’s Day January 1st Wednesday 1
Beginning of Ramadan* April 24th Friday 0
Eid Al Fitr* May 23rd Saturday 4
Arafat (Haj) Day* July 29th Wednesday 1
Eid Al Adha* July 30th Thursday 3
Hijri New Year’s Day* August 23rd Sunday 1
Prophet’s Birthday October 29th Thursday 1
Commemoration Day December 1st Tuesday 1
UAE National Day December 2nd & 3rd Wednesday & Thursday 2
*Islamic holiday dates are dependent on moon sighting and all are subject to confirmation and may change

 

I write articles such as this one as part of the holistic personal financial planning service and that I provide to expats, and the general consumer, financial and legal information that I provide in The National newspaper, on Capital Radio UAE, and on the Facebook group British Expats Dubai.

To arrange a meeting to discuss any aspect of your personal financial planning, please email me at keren@holbornassets.com     Please take a look at the other useful articles on this website.

Source: UAE Government Communications Office