Where to put my money when i get there?
#18
Re: Where to put my money when i get there?
Hi all
I have been read your threads or blogs (what ever they are called) for some time now and i want in...
OK THE PLAN
My fianc'ee and I are immigrate to Dubai, i am 25 years old and done well in the UK i am selling both of my businesses and property here in the UK and will be coming to Dubai with £120,000 cash to invest freely in what ever i think is right. And this is the QUESTION what is right? where should i put my money?
If any of you can help me or give me some idea's that would be great (private message welcome)
i would really like to talk to Indie Girl to, has you are on a lot of threads/blogs and seem to know a lot about how things work in Dubai and you have a lot to say about property investing and business so if you could be so kind to get back to me that would be great.
Many thanks
Le pure
I have been read your threads or blogs (what ever they are called) for some time now and i want in...
OK THE PLAN
My fianc'ee and I are immigrate to Dubai, i am 25 years old and done well in the UK i am selling both of my businesses and property here in the UK and will be coming to Dubai with £120,000 cash to invest freely in what ever i think is right. And this is the QUESTION what is right? where should i put my money?
If any of you can help me or give me some idea's that would be great (private message welcome)
i would really like to talk to Indie Girl to, has you are on a lot of threads/blogs and seem to know a lot about how things work in Dubai and you have a lot to say about property investing and business so if you could be so kind to get back to me that would be great.
Many thanks
Le pure
Welcome to the forum I could be more helpful if you have specific questions - anyway here's my 2p:
1) What is the nature of your business (PM me if you wish). I can tell you whether it would be easy to do the same here or not/or at least be able to point you to some one who should be able to guide you, including the costs of doing business here. Whatever it is, don't opt for an LLC (51% UAE partner!) type of company outside the free zone. Establishing a business in the RAK FZ/Ajman FZ is cheaper than any other Emirate.
2) Is it possible that one of you finds employment temporarily, while the other is setting up business? If one of you has a steady income, then you won't have to dip into your savings whilst your business stabilises/picks up.
3) You may want to invest half your capital in business, invest the rest - speak to a good qualified financial planner (think Meow is one)
4) Do not recommend investing in property in any other Emirate other than Dubai (if you must) - dodgy laws, water/electricity connections iffy (similar shortages in Dubai but not publicised) poor infrastructure etc. If in Dubai, off-plan buying is not recommended (escrow account not withstanding) especially if the developer is not Emaar. At the moment, I personally would not invest in property.
5) There is no protection whatsoever. For e.g. after building the Springs/Meadows communities, the RTA have now decided to build a 6 lane highway cutting right through the residential community! So much for forward planning. Build 5,000 houses with a single road leading in and out of the community, and then find traffic is a nightmare, so create more chaos - build highway - who cares if it happens to be through your pool/backyard - tough. Nah, you can't sue the government here.
Ta
Anya
#19
Re: Where to put my money when i get there?
They bought off plan, so called 1 villa per x sq mtrs. Due to the increased costs of development. The so called 1 villa suddenly turned into 2 villa's on the same plot. Shafted big time. As I said before see what you're buying
#20
Re: Where to put my money when i get there?
Hey LP,
Welcome to the forum I could be more helpful if you have specific questions - anyway here's my 2p:
1) What is the nature of your business (PM me if you wish). I can tell you whether it would be easy to do the same here or not/or at least be able to point you to some one who should be able to guide you, including the costs of doing business here. Whatever it is, don't opt for an LLC (51% UAE partner!) type of company outside the free zone. Establishing a business in the RAK FZ/Ajman FZ is cheaper than any other Emirate.
2) Is it possible that one of you finds employment temporarily, while the other is setting up business? If one of you has a steady income, then you won't have to dip into your savings whilst your business stabilises/picks up.
3) You may want to invest half your capital in business, invest the rest - speak to a good qualified financial planner (think Meow is one)
4) Do not recommend investing in property in any other Emirate other than Dubai (if you must) - dodgy laws, water/electricity connections iffy (similar shortages in Dubai but not publicised) poor infrastructure etc. If in Dubai, off-plan buying is not recommended (escrow account not withstanding) especially if the developer is not Emaar. At the moment, I personally would not invest in property.
5) There is no protection whatsoever. For e.g. after building the Springs/Meadows communities, the RTA have now decided to build a 6 lane highway cutting right through the residential community! So much for forward planning. Build 5,000 houses with a single road leading in and out of the community, and then find traffic is a nightmare, so create more chaos - build highway - who cares if it happens to be through your pool/backyard - tough. Nah, you can't sue the government here.
Ta
Anya
Welcome to the forum I could be more helpful if you have specific questions - anyway here's my 2p:
1) What is the nature of your business (PM me if you wish). I can tell you whether it would be easy to do the same here or not/or at least be able to point you to some one who should be able to guide you, including the costs of doing business here. Whatever it is, don't opt for an LLC (51% UAE partner!) type of company outside the free zone. Establishing a business in the RAK FZ/Ajman FZ is cheaper than any other Emirate.
2) Is it possible that one of you finds employment temporarily, while the other is setting up business? If one of you has a steady income, then you won't have to dip into your savings whilst your business stabilises/picks up.
3) You may want to invest half your capital in business, invest the rest - speak to a good qualified financial planner (think Meow is one)
4) Do not recommend investing in property in any other Emirate other than Dubai (if you must) - dodgy laws, water/electricity connections iffy (similar shortages in Dubai but not publicised) poor infrastructure etc. If in Dubai, off-plan buying is not recommended (escrow account not withstanding) especially if the developer is not Emaar. At the moment, I personally would not invest in property.
5) There is no protection whatsoever. For e.g. after building the Springs/Meadows communities, the RTA have now decided to build a 6 lane highway cutting right through the residential community! So much for forward planning. Build 5,000 houses with a single road leading in and out of the community, and then find traffic is a nightmare, so create more chaos - build highway - who cares if it happens to be through your pool/backyard - tough. Nah, you can't sue the government here.
Ta
Anya
#21
Re: Where to put my money when i get there?
Aaah, yes, but who are the developers - certainly not Emaar? What about infrastructure? Where will they get water/power from, finance?? Abu Dhabi has all the money. Dubai is margin trading on it's economy
#23
Just Joined
Thread Starter
Joined: Sep 2007
Location: North West England
Posts: 14
Re: Where to put my money when i get there?
Would you say buy property in Abu Dhabi or Barain would be i good place to start?
#25
Banned
Joined: Aug 2007
Location: Kuwait - Sringboard to Djibouti
Posts: 305
Re: Where to put my money when i get there?
Anyway good luck - but slow down!!!
#26
Forum Regular
Joined: May 2007
Posts: 30
Re: Where to put my money when i get there?
You take the risks with off plan buying, everyone knows that, but thats also where the big returns are if you get it right
R.
#27
Account Closed
Joined: Jul 2007
Posts: 7,028
Re: Where to put my money when i get there?
But the villas on the palm have still been fantastic investments havent they ? What have they acheived ? 3 times your money on current prices ? Jebel Ali villas going at 30-40% premiums. I know some of you have the "ah but are they selling them at those levels" attitude. I dont know, all I can comment on is that no one was discounting when I was with the agents last time. It was sticker price or the highway !
You take the risks with off plan buying, everyone knows that, but thats also where the big returns are if you get it right
R.
You take the risks with off plan buying, everyone knows that, but thats also where the big returns are if you get it right
R.
#28
Just Joined
Thread Starter
Joined: Sep 2007
Location: North West England
Posts: 14
Re: Where to put my money when i get there?
I thought you knew what you were doing. It seems to me you have sold up and don't have a clue what to do with it. ..well perhaps you do but have just decided - with no basis that Dubai is where it is at and within a matter of hours are now .....
Anyway good luck - but slow down!!!
Anyway good luck - but slow down!!!
Its not that i do not have a clue belive me, but this is a new market to me and in which i don't not know how things work, and just because i will be living in Dubai does not mean that i will not look at other opportunities because if i didn't what kind of invested would i be?
but thanks for your concern!
#29
Forum Regular
Joined: May 2007
Posts: 30
Re: Where to put my money when i get there?
I can only see the latter, no way for example are those villa's on the palm going to decrease in value as Dubai develops its infastructure.
R.
#30
Re: Where to put my money when i get there?
Hi all
I have been read your threads or blogs (what ever they are called) for some time now and i want in...
OK THE PLAN
My fianc'ee and I are immigrate to Dubai, i am 25 years old and done well in the UK i am selling both of my businesses and property here in the UK and will be coming to Dubai with £120,000 cash to invest freely in what ever i think is right. And this is the QUESTION what is right? where should i put my money?
If any of you can help me or give me some idea's that would be great (private message welcome)
i would really like to talk to Indie Girl to, has you are on a lot of threads/blogs and seem to know a lot about how things work in Dubai and you have a lot to say about property investing and business so if you could be so kind to get back to me that would be great.
Many thanks
Le pure
I have been read your threads or blogs (what ever they are called) for some time now and i want in...
OK THE PLAN
My fianc'ee and I are immigrate to Dubai, i am 25 years old and done well in the UK i am selling both of my businesses and property here in the UK and will be coming to Dubai with £120,000 cash to invest freely in what ever i think is right. And this is the QUESTION what is right? where should i put my money?
If any of you can help me or give me some idea's that would be great (private message welcome)
i would really like to talk to Indie Girl to, has you are on a lot of threads/blogs and seem to know a lot about how things work in Dubai and you have a lot to say about property investing and business so if you could be so kind to get back to me that would be great.
Many thanks
Le pure
Good luck with your move