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Banking and Finance in Dubai: What do you need to know?

nine local experts
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From retail banking to investing, here's what nine local experts had to say about finance in Dubai.

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Dubai is one of the most multicultural places you could live in. I love getting to know people and my stay here has provided me just that! Friends from all over the world.
Careers – you have a wide range of career opportunities, but you need to be bold and confident as you will be competing with peers from all over the world.
Education – reputed schools and universities have their campuses here.
Food – you can taste any cuisine you want, although it may cost you much more than usual.
Religion – it is an Islamic state by law but very tolerant to its Expat population practicing their own religion as long as it is done respectfully and within their rules.
Rent – on the higher side but again a wide range is available. You will definitely be able to select one that fits your budget and lifestyle.
Lifestyle – you can go all out or you can be most comfortable in your bubble. Dubai is know for its extravagance.
Overall an amazing place to work, live or visit.

If someone wants to move Dubai, you need to be prepared for the summer heat. Good amount of savings will also help you survive and have fun but everything’s all worth it since Dubai is so cool to live in. Lots of things to do and one of the safest cities in the world!

Dubai, the perfect blend of the East and the West, is a charming place once you know your ropes around the city. Known as the financial hub of this region, it offers lucrative jobs and opportunities to its expatriate community, while it ensures there are schools, amenities, clubs, parks and recreational facilities for expat families. Being a tourist attraction, it is dotted with luxury hotels, beaches, theme parks, and food outlets that boast of international cuisine from all over the world, making it the perfect ‘home away-from-home’ place.

If somebody were moving to Dubai as an expatriate, as I have, then I would advise them to keep an open mind to the conservative culture. At first, it seems daunting, but with time it gets easier. Another thing I would advise is to arrive with a substantial savings account because the city is incredibly expensive.

Norhan, says: 2020

Good infrastructure, Nice places to visit during weekends, you can afford nice luxury cars here depend upon your budget, you can plan to visit neighbor countries as well during annual leave as lots of places are easily accessible from Dubai like Jordan, European continent, Turkey, etc. Locals are extremely hospital and the facilities are world-class.

Have medical insurance and an RTA card for travel. She or he cannot eat or drink while traveling on the train. And Dubai is a place with very hot and humid climate and it is known for many innovations like Dubai miracle garden, global village, desert safari, Burj Khalifa, Dubai mall, etc.

Caroline, says: 2020

Dubai is a multicultural society with 90% expatriate population, hence it is easy to settle down here. Known to be the Middle East’s financial hub, it is also famous for its tourist attractions and nightlife. The cost of living is high and it is difficult to stay here for long without a job or a stable income. It’s a safe, organized, and well-planned city.

The cost of living in Dubai is notably high and jobs are hard to come by. A decent amount of savings would be required for sustenance. Most people are fluent in English and so the language barrier is not a huge obstacle. The public transportation is beyond satisfactory, however, the taxi fare can be quite pricey. With extravagant malls littered all across the city, and the tallest building in the world in the middle of it all, Dubai is the epitome of a lavish lifestyle.

Elaine, says: 2020

It is recommended that you land yourself a job before moving to the Emirates. Depending on the country you will be migrating from, get realistic and calculate the cost of living in Dubai. Your final package should reflect your industry benchmark, your experience, and relocation expense. Most firms offer flight tickets for you and your dependents, annual or biennial flights back home, money towards schooling, housing, and health insurance. Sure, Dubai is exciting for its tax-free income but the overall cost of living in the city can be heavy in your pocket. Depending on the area you opt for, rent would be the biggest expense you incur here.

Leveriza, says: 2020
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