then why the he’ll people go to uae in the first place
u should give the credit where its due
i never heard u or others saying how uae or gcc changed peoples lives when they couldn’t afford a cycle back home driving merca and beamers
so be positive or don’t spread negative about things u have 0 idea just for the sake of doing it
There is this one stupid retired unlucky fellow with no kids, He lived in DHA Karachi, had a house worth around 6cr. He sold it. I came to know about it later, I asked “Why did you do that?”, he said, “ I am shifting to UAE to enjoy the rest of my days of life”, I was like “Ok, But income ? “, He replied, “I am opening a restaurant in UAE, Investing my money, in it ”, Suddenly I had this feeling to make him stop with the stupid plan he had, Tried to every extent, Reason is that the process of Opening a restaurant Is very very hectic, I have heard by some owners that you can manage to complete the legalities within 3 months as well as be unlucky enough to fail to get your initial legalities complete even in 2 years,
That stupid man got a big place for rent, But you can’t open a restaurant unless health ministry conducts supervisions, Provided NOC, Food authority has their own inspections as well and their own separate NOCs. Food authority is generally the reason why you fail to get things done sooner.
After all this, You have to get the Trade license as well. But for all these to take place, You must have to have a place where you are planning to open up the restaurant on rental basis, Even though your restaurant won’t be operational anytime soon. Then, You get workers, give them visas, Get them sponsored, Give them a place to live (flat for rent), get them insured (optional now).
So he was unlucky enough to get his license and all stuff delayed for 1.5 years, In the meantime, He invested good amount on modernizing the place he got on rent, And the rent was also 150k I guess or so. He himself started living in an apartment worth 70k per year.
All in all, His restaurant opened up 1.6 years later, For the another 8 months, he failed to get customers, not even breakeven but faced losses. So he ended up losing everything in the process, and now he is back in Karachi, Doing some small job for living, got some small flat in some random area, around 2.8 million rupees, His wife gives tuition to kids.
Whenever he meets me, (rarely), he first cries. “Wish I had listened to you and others earlier”, He probably more than double my age.
So the point is, Currently UAE is not a place for investors who are seeking profits, But if you just want to lead a life, as well as bound yourself with the local laws, You can buy up some apartment, Live there, Pay some cash monthly maintenance charges, Get some income generating mechanism for yourself.
I can’t say anything about long term, Although, UAE government should definitely give a second thought to various things such as relaxations in some expenses, Consider selling passports, Give some real benefits to investors. BTW, In the last 2-3 months, Dubai has once again come into attention of some investors from Pak and Ind. Not in big scale but those who I mentioned above “Get some flat, Get some average income generation, Live your life”.