What To Know: High Net Worth Individuals Relocating to the UAE

The demand from HNWIs interested in relocating to the UAE continues to rise and from a variety of locations around the world. At EER Middle East, we understand how many questions individuals and families might have about the opportunities to be found in the Emirates and how the process of relocation works. To help prospective residents find out more about what is involved with relocating to the UAE, Kelly Labuschange and Janice Trinidad, two regional experts in clients services, relocation and immigration, sat down with David Bell from PCD to answer some common questions.

Here are some of the key takeaways to note:

Advanced planning is essential. The earlier you can start planning before your move, the easier the overall process will be. This is primarily because advanced planning gives you time to explore your options and work with your relocation team to find the most appropriate solutions and ensure you have all the necessary documentation and requirements to get started. For families, this can be even more vital as pre-planning can be vital in finding the right school for your children and the right home in the right location.

Self-sponsorship is typically a strong option for HNWIs. Many of our clients in the HNWI sector are most interested in the self-sponsorship visa options. Two long-term options are the Golden Visa and the Retirement Visa, which are valid for 10 years and 5 years respectively. Both have multiple categories that can apply to different circumstances, though the focus of the UAE is on attracting new residents who are able to invest in the country’s future. In the case of the Golden Visa, two of the most common categories that apply for HNWIs are the property investment and the fixed deposit investment. While the applicant doesn’t have to use the property as their primary residence, its value must exceed AED 2 million for each individual contributor, though the visa is now available for mortgaged and some off plan properties.

Finding a property. The real estate landscape of the UAE is extremely diverse, with a vast range of options available in different sizes, locations and budgets. Our team work with HNWIs to assess their top priorities, usually if the property will be used as a residence or an investment opportunity, so they can curate a selection from which the client can begin viewings. Depending on the needs of the client, the types of properties considered could be anything from a city-centre penthouse to a waterfront serviced apartment, a mansion-sized townhouse in a green, family-friendly community to a beachfront luxury villa. The key is to determine what is most important, from proximity to work or school, to community feel and surrounding amenities.

VIP Service. For HNWIs who might be short on time and are looking for that extra level of support, EER Middle East offers a VIP package to make their journey even smoother. The package is tailored to each individual client and their specific requirements but covers all of the legal aspects and practical logistics of relocating to the UAE including visas, healthcare coverage, pet relocation, furniture arrangements, dependent sponsorship and even driving licenses.

Thank you to Kelly and Janice for covering such important topics and to David Bell for coordinating this discussion on what to know about relocating to the UAE!

If you are a HNWI interesting in relocating to the UAE or would like to know more about our VIP packages, relocation, immigration or corporate services, please get in touch with our team on info@eerme.com or +971 4 421 1819 today.