Is there any alternative to UAE?
Inspired by another thread I saw on a different subreddit, again spelling out the end of Dubai.
Assuming those constraints, is there any alternative to living in UAE?
- Ease of securing a long term residency (UAE offers a 10y renewable Golden Visa if you purchase a property for $550k, you can do that on day one)
- Close to zero risk of getting mugged, having your car stolen, having your house burgled, being assaulted, beaten up, stabbed
- No issues with homelessness, vandalism
- Ability to smoothly deal with administrative tasks in English language
- First world restaurants, shopping, entertainment
- Direct flights to all major destinations of the world
- No capital gains tax, or very low capital gains tax
- No income tax, or very low income tax
- No wealth tax
Singapore I guess comes close, but it fails on the first, most important point.
In order to live there, you need to get an Employment Pass sponsored. And for an employer to sponsor your EP, they have to jump through many hoops - they need to interview local candidates first (to prove no locals can be found to fill this role), they need to be cautious about nationality quotas (can't have one nationality dominate the payroll) and there are minimum salary rules depending on the field you work in, and your age.
If they fire you, there's no Golden Visa option to shield you, you have 30 days to get out. If you'd like to purchase a property, you'd need to pay 60% tax on top of it, as an EP. And even with that property purchased, if you lose your job, you have 30 days to get out.
The path to Permanent Residency in Singapore is a black box, the official criteria has never been released - your race plays a part, who you marry plays a part, and whether you have a son plays a part (as a PR, your son will have to serve for 2 years in the army). And the "permanent" residency needs a "re-entry permit" renewed every 5 years, Singapore reserves a right to refuse the renewal. If that happens, the first time you step your foot out of Singapore, you lose your "permanent" residency. There's also a path to skip the normal process and do PR by investment, however it costs $20m USD and has many other criteria attached to it.