The Real Cost of Living in Dubai: What They Don't Tell You

[@cintiaarnhoffer]

I lived 14 years in Denmark, 50% taxes are insane!! For me Dubai is waaaaaay more cheaper than Denmark. Not even mentioning safety. Copenhagen is full of drunk people Thursday, Friday and Saturday night, you can't go through the walking street. There are so many homeless people on the streets! Incredible. I LOVE Dubai and I would never move back. :)

[@rasmusgutfelt]

Yeah it’s nuts. We have homeless people sleeping on the ground floor in the building where my apartment is in CPH 😅

[@cintiaarnhoffer]

@@rasmusgutfelt I know.... Dubai is the BEST! :)

[@jessicacanada9428]

Thank you, Rasmus, for the video. It was very informative. Love how it's short, but there're lots of good info. We are in Ontario Canada. Highest tax supposed to be 46% but once I filed my tax, it was 53%. I asked my accountant about this, and she said Ontario has a hidden extra tax and they make it very difficult to understand. Everything you buy is an additional 13% HST. Property tax is also ridiculous. To top that off, they just introduced a "luxury tax" Jan 2023 which is an additional 20% of anything (vehicle, boat, plane) over $100k. I was at the dealership 2 weeks ago to get a SUV which is $180k. That is when I was told, I need to pay additional 20% on the $80k + 13%HST. WTF is this, tax on top of tax? I didn't end up getting the SUV. My husband and I confirmed we are getting our family the hell out of this shit hole to Dubai next yr. Can't justify staying here with terrible health care, unsafe, bureaucracy, garbage education, stupid government (Justin Trudeau & his liberal party, they running Canada to the ground), lots of unscreened refugees and the out of control druggie and homeless everywhere. I visited Dubai many time and always enjoyed it there. They can continue to print money and take care of these garbage here. Once all the upper middle and rich people leave who will be paying these ridiculous tax so lets see how much longer until they go bankrupt and hit depression. Canada is for lazy suckers. Looking forward to moving to Dubai. If Canada don't want us, we will move with our wealth

[@rasmusgutfelt]

You'll have to change your username from jessicacanada to jessicadubai 😂 Sounds like a mess though, hope Dubai will be a better fit!

[@pavelsokov]

Same

[@luciaontario7606]

Thank you for the great video. You answered a lot of my questions. Can't wait to move to Dubai next yr. Running away from this dying country of Canada where once so peaceful, safe and beautiful.

[@rasmusgutfelt]

Yeah i understand why you’d want to get out of there 😅

[@MineBloub_]

really love your content , keep it moving man !

[@rasmusgutfelt]

Thank you!

[@HappyJiyoung]

Thank you for the great video!! So useful & informative!!!!

[@rasmusgutfelt]

Glad it was helpful!

[@good3112]

Thanks so much for this video, it's full of very useful information. It's very interesting to compare prices in Dubai to those here in Australia. Like Denmark, Australia has a very high cost of living and high taxes. Dubai is sounding more attractive every day.

[@neverlookback7039]

Thanks ❤ following youuuuu from Spain

[@rasmusgutfelt]

Thanks for supporting!

[@luk1592]

Great content! Which food delivery service do you use in Dubai? Thanks

[@rasmusgutfelt]

I get mealprep delivered from Fitbar!

[@AK47WAH]

Thanks Rasmus...viewed 3 of your videos today.. Great presentation... 👌 Just a suggestion plz.. Kindly mention figures in UAD instead of $! Your audience may not necessarily be from European countries and you pay Dhirams for everything there.. Thanks.. And keep up the great work.. 👌

[@rasmusgutfelt]

That's noted, thank you for the suggestion!

[@loydeISM]

Hej Rasmus! Thanks for reminding me why I moved from Denmark to Luxembourg :-) I love Denmark but the taxes are insane! I might consider Dubai once my business picks up...

[@rasmusgutfelt]

Yeah it's crazy. Good luck with your business!

[@alexbabylon7052]

Helpful and informative as always! Tack så jättemycket Rasmus, hoppas vi ses någongång under september eller oktober. //Alex från Göteborg

[@rasmusgutfelt]

Thank you! Let me know when you get here 🙌🏼

[@euhdshbx9710]

thanks， i'm applying a job in Dubai, it's very helpful .

[@rasmusgutfelt]

Happy to help!

[@andresoares2110]

Excellent video! It's important to always use arbitrage in your favor. I did high school in NZ, but found it very expensive to go to business school there as a brazilian (63k NZD/YR). Then, in the start of the pandemic, I found that I could go to college in Germany in an international uni and start my studies online due to the pandemic and then I got a scholarship, thus ended up paying 99 euros/month

[@Gabriel-fr3sd]

Do you make money on the Apartment ur renting out in CPH? In sweden it is almost impossible to buy an apartemnt and rent it out for profit.

[@rasmusgutfelt]

Yes, the return is quite good actually. Mainly because the location is super good

[@ahmadrachid]

Hi Rasmus, the personal tax saving of living in Dubai means schools, healthcare is not free like it would be in Denmark. Do you know what those prices are in Dubai? that would eat into your disposal income

[@rasmusgutfelt]

Cost of education can vary wildly depending on what school you want to go to, same with healthcare. You can get a really cheap one or get a super expensive one. But i doubt - depending on your income obviously - it'll eat +30% of your income

[@nicholashang6793]

Hey Rasmus! Thanks for sharing this very helpful insight! This video is perfect for me, Im considering two competing offers right now (1 in cph & 1 in dubai) Offer is 60k dkk net after tax vs 40k aed. If I have no dependent, and have a single goal of saving as much money as I can, which one should I go with? Thanks alot!

[@rasmusgutfelt]

I have a video where i break down my living expenses in Dubai, go watch that and then go to Propertyfinder.ae (also have a video on that) and then you can make an informed decision for yourself! Think that’s better than me telling you what to do. Don’t know your lifestyle 😅

[@jeremycoe7259]

Hi, which meal prep company(s) do you use ?

[@rasmusgutfelt]

I use Fitbar!

[@Henrilaureys]

Here am I again, for another question: It is easy to setup everything in dubai and get the 0% income tax and earn money. BUT how about getting your money back out of dubai and moving back to another country, perhaps retiring in switserland of somewhere else. I want to know about the procedure you will have to go through leaving the UAE and at what cost.

[@rasmusgutfelt]

Great question! So usually when you leave a country to become resident in another there's usually an exit tax. I had to pay capital gains tax on all my stock in Denmark, regardless if i sold or not. Since there's nothing like that in Dubai, you just wrap up your affairs and transfer the money to another account.

[@Henrilaureys]

@@rasmusgutfelt Thanks

[@gustafgyllensporre5526]

Is Denmark fine with you still owning an apartment while not being a tax resident? I believe in Sweden you cannot have any affairs left in the country when you leave the tax system.

[@rasmusgutfelt]

Yes, i’m a technically partially taxed in Denmark. So i pay taxes on my rental income from my apartment. It does affect my situation a bit, but mainly only regarding how long i can stay in Denmark for, before being considered a tax resident in Denmark

[@scrypturefx3077]

Plus I don't know why you picked Dubai over Abu Dhabi, because for me, Abu Dhabi is so much better than Dubai. Even the cost of living is better there as well. By the grace of God should be back to the UAE before the end of the year and if you are down for a meet up we could sit out and have a drink or two don't worry everything on me. You seems very smart and like someone I will like to be friends with.

[@rasmusgutfelt]

All my friends that are moving to UAE are in Dubai, so it was the easier decision to take :)

[@golammaula77]

How can I make a bank account in Dubai? So I can rent an apartment. I can't find a solicitor in the UK who can help me set an offshore bank account. Please help I am interested.

[@rasmusgutfelt]

You need an Emirates ID before you can get a bank in Dubai. When you have that, just sign up with Wio

[@gauravpatil1867]

But Dubai doesn't offer permanent resdency or citizenship, what's your plan for your retirement days let's say after age 60/70?

[@rasmusgutfelt]

No clue. World is moving so quick and i can’t look 40 years into the future. Think the Middle East will be the best place on earth though if i had to guess

[@magicfire1]

I just checked the highest tax burden countries in 2023. 1) Denmark 2) France 3) Belgium 4) Sweden 5) Italy 6) Austra 7) Finland 9) Norway 10) Netherlands. 9 Europeans countries in the top 10. It's a joke lol. Hopefully, i'm moving next year to South east asia or dubai .Bye Europe

[@rasmusgutfelt]

It’s like you’re just consenting to daylight robbery living in Europe haha

[@jessicacanada9428]

It's the same in Canada. I'm in Ontario highest tax supposed to be 46% but once I filed my tax, it was 53%. I asked my accountant about this, and she said Ontario has a hidden extra tax and they make it very difficult to understand. Everything you buy is an additional 13% HST. Property tax is also ridiculous. To top that off, they just introduced a "luxury tax" Jan 2023 which is an additional 20% of anything (vehicle, boat, plane) over $100k. I was at the dealership 2 weeks ago to get a SUV which is $180k. That is when I was told, I need to pay additional 20% on the $80k + 13%HST. WTF is this, tax on top of tax? I didn't end up getting the SUV. My husband and I confirmed we are getting our family the hell out of this shit hole to Dubai next yr. Can't justify staying here with terrible health care, unsafe, bureaucracy, garbage education, stupid government (Justin Trudeau & his liberal party, they running Canada to the ground), lots of unscreened refugees and the out of control druggie and homeless everywhere. I visited Dubai many time and always enjoyed it there. They can continue to print money and take care of these garbage here. Once all the upper middle and rich people leave who will be paying these ridiculous tax so lets see how much longer until they go bankrupt and hit depression. Canada is for lazy suckers. Looking forward to moving to Dubai. If Canada don't want us, we will move with our wealth.

[@alexbabylon7052]

Sweden 😅

[@gauravpatil1867]

I guess Andorra would be a ggod fit in Europe, only 10% tax