UAE alternatives for trader/investor.

[rowena]

Actually I am in real estate business myself in Dubai so I am stating facts as to what we are seeing. I don't need to see any reports. Ask any professional real estate company (don't ask one who wants to sell you a property ).

Those are facts, they're not random numbers. If you're checking bad locations and bad projects then you can face a huge loss of even more than -50% but if you go with a good location and a good project it is not going to happen.

I know Dubai very well I'm am a real estate investor in Dubai and my properties still worth the same compared to last year even after the pandemic. The thing is you need to invest in signature projects and stay away from trash developers like Emaar, Damac etc... The only bad thing about investing in a good project is your phone will not stop ringing. I receive 2-3 calls every fucking day from real estate agents. They constantly bring potential buyers, offers but I don't want to sell or lease my units...

 

[Davis123]

Those are facts, they're not random numbers. If you're checking bad locations and bad projects then you can face a huge loss of even more than -50% but if you go with a good location and a good project it is not going to happen.

I know Dubai very well I'm am a real estate investor in Dubai and my properties still worth the same compared to last year even after the pandemic. The thing is you need to invest in signature projects and stay away from trash developers like Emaar, Damac etc...

I am in this business for more than 10 years in Dubai . Some buildings have suffered a lot that is true but overall these are the problems faced by my investors who have invested all over Dubai. Some buildings in downtown are half the value now as compared to 2014. You are lucky dear that yours are good projects. Once you go out in the market wanting to sell the property you actually get less offers than what they show it's value in books. It's a buyer's market right now no matter which country you go to due to current Covid 19 situation. I am sure market will pick up in a year as the vaccines are already here in Dubai.

 

[rowena]

Some buildings in downtown are half the value now as compared to 2014.

Yes, it really depends on the project. If you bought a unit with an overvalued price from the developer then yes you can expect half loss sometimes more. I know that people faced -70-80% loss in 5 years for some specific parts of Dubai but again it depends on the project.

Once you go out in the market wanting to sell the property you actually get less offers than what they show it's value in books.

No need to go out in the market to find out the real price of the property. As you know, the Dubai land department shares real transaction details for almost all projects in Dubai. I check for transactions of the exact same units from time to time and I see very close numbers to my purchase prices. Also yes, I was a little bit lucky I'm not going to deny it since the market recorded loss for 5 years in a row.

 

[Davis123]

Yes, it really depends on the project. If you bought a unit with an overvalued price from the developer then yes you can expect half loss sometimes more. I know that people faced -70-80% loss in 5 years for some specific parts of Dubai but again it depends on the project.


No need to go out in the market to find out the real price of the property. As you know, the Dubai land department shares real transaction details for almost all projects in Dubai. I check for transactions of the exact same units from time to time and I see very close numbers to my purchase prices. Also yes, I was a little bit lucky I'm not going to deny it since the market recorded loss for 5 years in a row.

Actually that's the number one issue I have is that they are making investors nervous. What if a person wants to sell his property needing immediate cash for a variety of reasons including medical reasons. What if he is dying of cancer and he needs to sell immediately to avoid unnecessary probate ? He/she will sell it immediately and effect the prices of the same property in that neighbourhood. Due to this type of transparency, buyers are wanting always at that price someone else got. We get upset customers who want the same deal as someone else got in the same building. That's becoming a big issue. I am sure as a buyer you will want the same price as someone else but what when you are the seller?

 

[JackAlabama]

Trust me if US govt wants cryptos banned then they will do it overnight. Alcohol, drugs are different category and they are not financial instruments. Where will you trade your cryptos ? Underground in local coins hand to hand exchanges? Yes everything is workable as every country is afraid of their fiat currencies loosing their values. I remember in 2012-2013 UAE govt was facilitating cryptos by having bitcoin ATMs installed and you could trade locally too but suddenly in 2014 it made an announcement to ban them from being traded in UAE and had bitcoin ATMs removed. I supposed a threat to their fiat currencies was realized by the govt early on as they knew no one would keep money in their banks anymore. US govt is the big elephant in this world if it wants to do it they will do it overnight. I studied prohibition of alcohol etc in us history in schools and university and how cannibis control was unsuccessful. We all learnt in history that CIA was using drug money to supply Nicaraguan rebels as well as sold weapons to Iran in so called Iran Contra affair. FATCA is a very big success but not sure whether CRS has the right tooth as they don't have the might of US govt. Don't underestimate the US govt, always stay ahead of their game. That's the correct approach.

They will drive it underground and fuel the black market even more. And where the world is going, it seems that the black markets are badly needed to live a halfway normal life.
These bureaucrats do not know what they are doing and think by just passing laws they can steer the economy. Also, regulations are pretty much up for sale in the us.

They are further bifurcating the world.
But what do you suggest to stay ahead of their game?

 

[troubled soul]

Those are facts, they're not random numbers. If you're checking bad locations and bad projects then you can face a huge loss of even more than -50% but if you go with a good location and a good project it is not going to happen.

I know Dubai very well I'm am a real estate investor in Dubai and my properties still worth the same compared to last year even after the pandemic. The thing is you need to invest in signature projects and stay away from trash developers like Emaar, Damac etc... The only bad thing about investing in a good project is your phone will not stop ringing. I receive 2-3 calls every fucking day from real estate agents. They constantly bring potential buyers, offers but I don't want to sell or lease my units...

"trash developers like Emaar, Damac etc..."
Can you share some trusted developer?
When I try to search I find most of project owned by Emaar.
Can you share some good project to invest ?

 

[rowena]

"trash developers like Emaar, Damac etc..."
Can you share some trusted developer?
When I try to search I find most of project owned by Emaar.
Can you share some good project to invest ?

Correct, Emaar is the biggest developer but it doesn't mean they're providing good value. Check Meraas and their projects.

 

[wheelspin]

UAE Freelance visa
+ Even easier/cheaper
- I don't have any actual activity that technically qualifies for freelancing
- Potential bank issues

I checked https://gofreelance.ae/ out though I can't figure out if I am allowed to work only with companies within the free zone (eg. DIC) or with companies outside UAE, similar to a FZE company, too. Any suggestions? FAQ on their webpage does not take a clear statement.

 

[JackAlabama]

I checked https://gofreelance.ae/ out though I can't figure out if I am allowed to work only with companies within the free zone (eg. DIC) or with companies outside UAE, similar to a FZE company, too. Any suggestions? FAQ on their webpage does not take a clear statement.

It looks to me you can work with anyone. But the best would be to get in contact with them.
I might plan a move to Dubai as well.

"As a member of the GoFreelance community, freelancers get exclusive opportunities to get new jobs, bid on projects and grow their network via Marketplace – an online platform introduced with the aim of supporting Gofreelance talent."

 

[CaptK]

I checked https://gofreelance.ae/ out though I can't figure out if I am allowed to work only with companies within the free zone (eg. DIC) or with companies outside UAE, similar to a FZE company, too. Any suggestions? FAQ on their webpage does not take a clear statement.

You can't do ANY business in the GCC, Kuwait, Bahrain, Oman, Qatar, Saudi Arabia and the UAE if you have a Freezone license.

 

[rowena]

You can't do ANY business in the GCC, Kuwait, Bahrain, Oman, Qatar, Saudi Arabia and the UAE if you have a Freezone license.

This is not correct. There are some restrictions(ex: you can't open a restaurant) but overall you can do business inside both UAE or GCC. For example, deliveroo is the biggest food delivery company in the UAE and they operate under DMCC Freezone.

https://landing.dmcc.ae/dmcc-success-stories-deliveroo

 

[Davis123]

This is not correct. There are some restrictions(ex: you can't open a restaurant) but overall you can do business inside both UAE or GCC. For example, deliveroo is the biggest food delivery company in the UAE and they operate under DMCC Freezone.

https://landing.dmcc.ae/dmcc-success-stories-deliveroo

Right now UAE is allowing 100 percent onshore companies too. Previously there was a requirement for a local partner just for paperwork. This is a big change in UAE law recently.

 

[rowena]

Right now UAE is allowing 100 percent onshore companies too. Previously there was a requirement for a local partner just for paperwork. This is a big change in UAE law recently.

Even before that FZ companies allowed to carry business inside UAE and GCC with some restrictions(opening restaurants, factories, etc...). Deliveroo DMCC FZ license is issued 5 years ago.

 

[Davis123]

They will drive it underground and fuel the black market even more. And where the world is going, it seems that the black markets are badly needed to live a halfway normal life.
These bureaucrats do not know what they are doing and think by just passing laws they can steer the economy. Also, regulations are pretty much up for sale in the us.

They are further bifurcating the world.
But what do you suggest to stay ahead of their game?

Diversification. Buy hard assets like gold, real estate etc so if any crisis comes in bitcoins or cryptos you are still ahead of others. With real estate you can make income on the side always. With gold you are simply being safe in case of problems.

 

[JackAlabama]

Diversification. Buy hard assets like gold, real estate etc so if any crisis comes in bitcoins or cryptos you are still ahead of others. With real estate you can make income on the side always. With gold you are simply being safe in case of problems.

Agree to the diversification.
But those two asset classes are very easy to slash, confiscate or are not mobile at all. Gold is also highly highly unpractical in most places and hard to move.

 

[Davis123]

Agree to the diversification.
But those two asset classes are very easy to slash, confiscate or are not mobile at all. Gold is also highly highly unpractical in most places and hard to move.

Real estate in a country other than your tax residence is always best way of diversification. They can't confiscate it just like that. Cryptos are mobile but easily stolen, hacked or can be made illegal one day by the action of law makers to protect their fiat currencies. Gold is the best way to diversify and can be stored in Singapore or Switzerland easily but at high costs. I think real estate is the best and practical way especially in a foreign country with some protective laws in place. For real estate, UAE, UK, Malaysia are the best countries that I found so far. You can make your own choices and decision.

 

[CaptK]

This is not correct. There are some restrictions(ex: you can't open a restaurant) but overall you can do business inside both UAE or GCC. For example, deliveroo is the biggest food delivery company in the UAE and they operate under DMCC Freezone.

https://landing.dmcc.ae/dmcc-success-stories-deliveroo

They did this by opening a branch office of the freezone company in the UAE mainland.

 

[rowena]

They did this by opening a branch office of the freezone company in the UAE mainland.

Yes definitely need a DED branch license for your Freezone company to expand your business in UAE but you don't need a local partner etc... this is a very common practice.

 

[JackAlabama]

Real estate in a country other than your tax residence is always best way of diversification. They can't confiscate it just like that. Cryptos are mobile but easily stolen, hacked or can be made illegal one day by the action of law makers to protect their fiat currencies. Gold is the best way to diversify and can be stored in Singapore or Switzerland easily but at high costs. I think real estate is the best and practical way especially in a foreign country with some protective laws in place. For real estate, UAE, UK, Malaysia are the best countries that I found so far. You can make your own choices and decision.

How do you can travel to these places now? I forget about the gold storage, especially in a foreign land. No chance I can reach my box in singapore now.
Everything can be made illegal. The question is how this is being enforced. Some of the most highly priced commodities are illegal.

They can very very easily confiscate the real estate. Just place some kind of bond on it. Lets call it covid1984 relief support for the common good and the poor who want the basic income?
And I place it only on real estate owned by foreigners?
Hell yeah, I would love that idea as an European politician, it is easy to sell and even easier to implement (cadastre).

For real estate, only UAE would be of interest to me right now. Xenophobic asia is out of the question and UK is a blackbox on how they play this plandemic.

 

[CaptK]

To much major real estate is owned by foreign buyers in the UK.
Canary Wharf where the HSBC, Barclays CITI, JP Morgan and others have their HQ. Is owned by the Qatari's. Trophy Hotels owned by Saudi and Thai investors and major shopping centres like Westfield are owned by Australian's.

The UK will never impose such a law.