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Dubai: Jet to Let Guide to Dubai

Dubai is the second largest of the seven Persian Gulf states that constitute the United Arab Emirates (UAE). The name Dubai also refers to the modern, highly developed and lively city with a prosperous business centre, high temperatures and coastal resorts that have attracted the wealthy from around the world. Visitor numbers are growing and extremely elaborate property developments look set to further establish Dubai city as a true gem of the Middle East.

Why invest in Dubai?

Dubai offers a virtually crime-free location, modern buildings and many business opportunities. The tax system has been a key incentive for foreign investors. With no Corporation Tax in the selected ‘free zones’, many overseas companies have chosen Dubai as a country in which to locate and expand their businesses.

In addition to this, the personal tax system in Dubai is extremely favourable for investors. This doesn’t mean that the taxman in the UK will not want some of it, but with professional advice you can minimise your tax bill and take advantage of the opportunities that are on offer here.

The story so far…

After the 1971 declaration of independence from the UK, the UAE was formed. The UAE consists of seven emirates (Abu Dhabi, Dubai, Sharjah, Ajman, Umm al-Qaiwain, Ras al-Khaimah and Fujairah) and Dubai is the second largest by area after Abu Dhabi. 80 per cent of the country is uninhabited desert and the majority of the people live in the city of Dubai.

Dubai is the creation of two decades of development that has transformed what was once a minor port into a leading centre of business and commerce and a growing tourist hotspot. The ruling family decided to change the country from an oil-focused economy to concentrate on services, particularly tourism, and the city that has emerged as a result is remarkable.

Development is continuing at rapid pace with approximately 15 per cent of the world’s cranes currently located in Dubai, making it the fastest growing city in the world. Each new development is more incredible than the last. The three Palm island developments, The World, and now the $14 billion development known as the Dubai Waterfront are amazing projects. The Waterfront project will be seven times larger than the island of Manhattan and add over 800 kilometres of coastline. The size of this development is difficult to overstate. The many man-made islands dotted with houses and hotels, 70 kilometres of canals, a new city centre and one of the world’s tallest buildings will accommodate over 400,000 people in an area over 270 square kilometres. This will be packed with luxury hotels and resorts, including an underwater hotel, as well as shopping centres and entertainment venues.

Dubai offers a fantastic quality of life with modern medical services, excellent schools and outstanding shopping and entertainment facilities. The people at the leading edge of this rapid change describe it as the city where dreams come true. Will this be true for the jet-to-let investor?

Where is it?

The UAE is in the eastern part of the Arabian Peninsula. The country’s total area is approximately 82,880km squared and its neighbours are Saudi Arabia to the west and south, Qatar to the north and Oman to the east.

The UAE coastline is 1,318km along the southern coast of the Persian Gulf and for about 90km along the Gulf of Oman – an area known as the Al Batinah coast.

More pages

Page 1:
Page 2: What is the weather like?
Page 3: Economy
Page 4: Unemployment
Page 5: What does this mean for the property investor?
Page 6: Terrorism
Page 7: Transaction costs
Page 8: Comment

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