UAE Expats Return to Dubai from Canada and US

The UAE is experiencing a shift in migration patterns, with many individuals who once sought opportunities in Canada and the U.S. opting to return. According to industry specialists, this trend is fueled by the challenging economic conditions abroad, including higher taxes, escalating living costs, and limited job prospects.

Dubai, in particular, is attracting these returning expatriates, as observed by local property developers who report an uptick in investments from former Canadian and U.S. residents. These individuals are drawn back to the UAE by its tax advantages, desirable climate, and vibrant real estate market.

Andrew Amoils from New World Wealth highlights the important tax disparities driving this reverse migration, especially from Canada, where the financial and weather conditions are prompting a reconsideration of the UAE as a preferable living destination.

Echoing this sentiment, Imran Farooq, CEO of Samana Developers, notes the emergence of this reverse migration as a newly observed phenomenon, with Canadians increasingly participating in the UAE’s property market.

The lure of the UAE extends beyond financial incentives. The region’s safety, quality of life, and proximity to home countries for expatriates from Asia and Arab nations are compelling reasons for their return. These factors contribute to a strong demand for residential properties.

Compounding the appeal of the UAE is Canada’s rising cost of living, particularly in housing rents, which has escalated to a point of national concern. This economic pressure is steering former UAE residents, who had moved to Canada and the U.S. for better opportunities and citizenship benefits back to the UAE, enticed by the tax-free income and the luxurious lifestyle it offers.

Rizwan Sajan from Danube Group points out that those who have experienced life in the UAE and then moved to North America are now choosing to return, attracted by the UAE’s resident-friendly policies and the absence of income tax. This reversal is evidenced by significant investments in projects like Danube’s Bayz 101.

Moreover, interest in the UAE’s Golden Visa is surging, not only from European nationals but now increasingly from Americans, reflecting a broader international recognition of the UAE as a desirable location for investment and residence. Farooq dismisses concerns over a potential slowdown in Dubai’s real estate market, citing continuous demand, particularly for properties eligible for the Golden Visa, and a consistent rise in land prices.

Original article reference: Khaleej Times.


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