Due to its high-quality lifestyle and secure environment, Dubai has solidified its status as one of the top locations for expats.
According to Zoom Property Insights, Dubai has emerged as a popular destination for expats’ second homes due to its excellent infrastructure, successful pandemic strategy, and introduction of visa and labor reforms, according to the latest InterNations survey, which included more than 12,000 members.
One of the main reasons why many expats choose Dubai as their second home is the emirate’s stable economy, which is expected to grow by 4.5 percent in 2022.
Visa Reforms made a new opportunity
Dubai’s appeal among expats can be attributed to a number of factors, including its low tax base, safety, diversity, and world-class infrastructure. However, recent labor and visa reforms have proven to be game-changers, as expatriates now have a plethora of possibilities for long-term renewable visas in the emirate’s flexible work environment.
“Since the visa amendments were announced last year, things have been evolving at a quick speed. Many people’s minds have been altered by the availability of Golden and Silver visas, and many are now considering buying property in Dubai and making it their second home,” he said.
Another factor for foreigners’ increased interest in buying property or starting businesses in the emirate, according to Shobeiry, is 100% business ownership.
“The fact that expats can now control 100% of their businesses in Dubai has attracted more entrepreneurs with new company concepts.” This has led to the creation of more job opportunities, which is attracting more foreigners looking for work in the emirate,” Ata Shobeiry explained.
Source: Khaleej Times
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