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Expat package comparable to £120,000/yr

Expat package comparable to £120,000/yr

Old Jan 28th 2008, 4:57 pm
  #31  
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Default Re: Expat package comparable to £120,000/yr

Originally Posted by Mr Moleskins View Post
I think being an international arms traders carries a lot of credibility, but most of that would be lost if you turned up for a trade in your boxster.

It would be like Keith Moon throwing an ipod out of his hotel window. Yes it does the job but it just isn't good enough.
Well, I'll have to find someone willing to provide a $1M loan against future arms trades so I can get that Bugati.

Given the tenor of today's international arms market, I think the risk would be high, and the lender would find it necessary to hedge with a considerable long position on my "client's" stock exchanges.
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Old Jan 28th 2008, 5:01 pm
  #32  
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Default Re: Expat package comparable to £120,000/yr

Originally Posted by nottmbantam View Post
Get into all three plus drugs and prostitution, and you'll be in a Veyron before the month is out.....

None of this namby pamby risk analysis stuff.

I've got websense at work too, its really frustrating, all the eBay sites are filtered plus games and all the 'fun' stuff :-(
Here's a couple of good sites for any bankers or banker haters out there - Websense doesn't catch 'em...

www.longorshortcapital.com
www.leveragedsellout.com (though the last few entries are no good)
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Old Jan 28th 2008, 5:07 pm
  #33  
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Default Re: Expat package comparable to £120,000/yr

Originally Posted by welrifai View Post
Border,

You bring up a good point - I understand that I'll be hit with all kinds of hidden fees and taxes after arrival - any idea what they'll cost per year and what some of them are?
Well, to kick off with there is an annual 5% municipality "fee" (that is tax to you and me) on your rent- added monthly to your utility bill. Then the letting agent will want 5% for the privilege of finding you your apartment- that is paid by the tenant not the landlord in Dubai. Then there is the prospect of paying (at least) six months rent up front. A 1,000Dhs (2,000Dhs for a villa) deposit to DEWA in case you don't pay your bills but at least that is refundable when you move out. And that is just the housing.

On the car front you have road tolls (cheap, but they do add up), speeding fines (there are so many cameras you can't avoid them all) etc etc.

There is a huge tax on alcohol (about 20% I think) as well as a 10% service charge and 10% "fee" on anything you do or buy in a hotel.

And that is just off the top of my head....

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Old Jan 28th 2008, 5:11 pm
  #34  
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Default Re: Expat package comparable to £120,000/yr

Originally Posted by Border Reiver View Post
Well, to kick off with there is an annual 5% municipality "fee" (that is tax to you and me) on your rent- added monthly to your utility bill. Then the letting agent will want 5% for the privilege of finding you your apartment- that is paid by the tenant not the landlord in Dubai. Then there is the prospect of paying (at least) six months rent up front. A 1,000Dhs (2,000Dhs for a villa) deposit to DEWA in case you don't pay your bills but at least that is refundable when you move out. And that is just the housing.

On the car front you have road tolls (cheap, but they do add up), speeding fines (there are so many cameras you can't avoid them all) etc etc.

There is a huge tax on alcohol (about 20% I think) as well as a 10% service charge and 10% "fee" on anything you do or buy in a hotel.

And that is just off the top of my head....

Border Reiver,

So what would you say is my monthly rent + utilities (including broadband & Sat TV) + municipality fee + agent fee total for a 1 bedroom near DIC? I'm thinking it's now around £1,500 that we're talking about? Jeez - this is actually looking MORE expensive than London!
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Old Jan 28th 2008, 5:13 pm
  #35  
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Default Re: Expat package comparable to £120,000/yr

Originally Posted by welrifai View Post
Well, I'll have to find someone willing to provide a $1M loan against future arms trades so I can get that Bugati.

Given the tenor of today's international arms market, I think the risk would be high, and the lender would find it necessary to hedge with a considerable long position on my "client's" stock exchanges.
Your relocation makes you a shorter bet than if you were trading from London!


Most of the roads are straight (well, they were the last time I was in Dubai a year ago - am relocating in a few months), so anything that can go round corners at speed is probably a waste of money. I'd go V8 straight line speed (I wonder if you can get the 7l Holden out there...?).
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Old Jan 28th 2008, 5:13 pm
  #36  
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Default Re: Expat package comparable to £120,000/yr

Originally Posted by Border Reiver View Post
Some entertainment here is very expensive (eg alcohol) and some is very cheap (eg Russian hookers). Depends how often you want to go out and where you want to go. And what (and who) you want to do when you get there.
Are you serious? I paid Dhs24 for a pint of guinness last night...my friend told me that the Russian hooker at the bar wanted Dhs1,500 for her services!
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Old Jan 28th 2008, 5:48 pm
  #37  
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Default Re: Expat package comparable to £120,000/yr

Originally Posted by welrifai View Post
After having been in the UK for the last 14 months (and the US prior to that), it is likely that I'm moving to Dubai in March.

I'm trying to find out what income I would need to maintain my current standard of living. I am single 26 year old male and will be taking a regional management position for a Silicon Valley company.

Current situation in London, England
=====================================
Income: £120,000/year
Housing: 1 bedroom flat in Islington
Automobile: None
Savings: £20,000 (only 3 years out of Uni...)


Desired situation in Dubai
=====================================
Housing: 1 bedroom flat in Jumeirah Palms, or somewhere walking distance to the shore. Should have a pool and gym. Close to Dubai Internet City, where I'll be working.
Automobile: A nice new convertible!

Can you give me some idea what this type of lifestyle requires in terms of income? Is it true that rents are usually paid up front for the year? Are flats rented with/without furniture? Can you think of any "surprise" expenses I will incur that aren't typical in the UK or US?

Drop me an email at welrifai [at] gmail [dot] com.

I've seen numbers that suggest that I could enjoy this lifestyle on £40,000/yr... is that true? Should I expect my package to pay housing, auto, and health care?

Thanks!

Wael



How can we help you if you don't say what colour of Porche you want!!!!
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Old Jan 28th 2008, 5:50 pm
  #38  
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Default Re: Expat package comparable to £120,000/yr

Originally Posted by Madam Medusa View Post
hahahaha...you just took the words right out of my mouth...

MM, xx

Porche' He took the word right out of his post-didn't ya welrifai?
After all my colour coding posting.
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Old Jan 28th 2008, 7:11 pm
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Default Re: Expat package comparable to £120,000/yr

Originally Posted by lionheart View Post
Are you serious? I paid Dhs24 for a pint of guinness last night...my friend told me that the Russian hooker at the bar wanted Dhs1,500 for her services!
I must be out of touch with the going rate for Russian hookers but I suppose you could always negotiate. Which you couldn't do with the Guinness...
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Old Jan 28th 2008, 7:18 pm
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Default Re: Expat package comparable to £120,000/yr

Originally Posted by welrifai View Post
Border Reiver,

So what would you say is my monthly rent + utilities (including broadband & Sat TV) + municipality fee + agent fee total for a 1 bedroom near DIC? I'm thinking it's now around £1,500 that we're talking about? Jeez - this is actually looking MORE expensive than London!
Oh, I hate these question as so much of it "depends". Very roughly though:

Rent: 9,000Dhs/month
Municipality fee: 450Dhs/month
Agent fee (payable in full on signing the tenancy agreement): 5400Dhs
DEWA (water and electricity): 200Dhs/month (Air conditioning is usually included in the maintenance fee, which the landlord pays)
TV/internet: 400Dhs/month

So, just over 10,000Dhs a month, which is about £1,350.

Dubai is NOT a cheap place to live anymore.
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Old Jan 29th 2008, 5:59 am
  #41  
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Default Re: Expat package comparable to £120,000/yr

Originally Posted by welrifai View Post
I had to look up "Tall Poppy Syndrome" on wikipedia! This is not about social status, this is about wanting to have a fun car before I'm married with kids :-) and have a wife that makes me trade it in for an SUV!!!

Our "websense" software in my office blocked that ebay auction - what was it for???
ohhhhhhhhh....you can have fun cars and be married with kids....trust me

welcome to BE by the way...how come no one told me about this thread...
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Old Jan 29th 2008, 7:04 am
  #42  
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Default Re: Expat package comparable to £120,000/yr

Originally Posted by welrifai View Post
I can't be splashing out on a Lambo or a Mas :-). I'm 26, and need to save £60,000 for my MBA in the next 18 months :-). Boxster is a bit fun (if a bit girly), without breaking the bank! What would you buy on £35,000?
There are enough Porsches on the road here already!!!

Check out www.automiddleeast.com for reviews etc and see what your budget could get you.

Double your budget and add a bit more and treat yourself to the Audi R8! Very sexy ... you only live once!!!
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Old Jan 29th 2008, 7:13 am
  #43  
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Default Re: Expat package comparable to £120,000/yr

Originally Posted by welrifai View Post
I can't be splashing out on a Lambo or a Mas :-). I'm 26, and need to save £60,000 for my MBA in the next 18 months
I have an MBA and it didn't do me alot of good...
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Old Jan 29th 2008, 8:16 am
  #44  
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Default Re: Expat package comparable to £120,000/yr

Get yourself a well spec'd Boxster S with a hard top if you fancy it - driven them and they are definitely good fun. The S starts at 190k AED *NEW* = 26k GBP

But, FYI, a 911 starts from 270k AED (NEW) = 36k GBP and the 911 Convertible is 306k AED = 42k GBP...

Try looking on www.porschedubai.com to see what used 911's they have around 1 to 2 years old which would be in your budget.

Cars are much cheaper here
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Old Jan 29th 2008, 8:54 am
  #45  
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Default Re: Expat package comparable to £120,000/yr

Originally Posted by Robbies View Post
Get yourself a well spec'd Boxster S with a hard top if you fancy it - driven them and they are definitely good fun. The S starts at 190k AED *NEW* = 26k GBP

But, FYI, a 911 starts from 270k AED (NEW) = 36k GBP and the 911 Convertible is 306k AED = 42k GBP...

Try looking on www.porschedubai.com to see what used 911's they have around 1 to 2 years old which would be in your budget.

Cars are much cheaper here
I love how this all turned into a discussion on which car I should buy :-).
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