Moving to Dubai from Singapore is a big step, but one that many people are considering for a variety of reasons. While Singapore is a key player in Southeast Asia, Dubai stands out as a gateway to both Western and Eastern markets in the Middle East. Lately, more individuals and business owners from Singapore are choosing to move to Dubai because of the many advantages it offers compared to Singapore.
For individuals, one of the biggest attractions is Dubai’s tax-free lifestyle, which can lead to significant savings. For business owners, Dubai provides a more cost-effective and business-friendly environment, with benefits like limited corporate tax in certain free zones, easier company formation, and access to a rapidly growing economy.
So, let's understand why more people from Singapore are moving to Dubai and the business opportunities that make it a top destination for both individuals and companies.
Why Move to Dubai from Singapore?
Relocating from Singapore to Dubai offers a range of benefits and opportunities for both individuals and businesses. Here are some reasons why more people are making the move:
1. Lower Tax Rates
Dubai's corporate tax rates are significantly lower than Singapore's which provides a more favourable business environment for companies. Dubai also offers zero corporate tax in many free zones.
Unlike Singapore, where personal income tax can go as high as 22%, Dubai does not impose any personal income tax. The VAT rate in Dubai is also relatively low at 5%, adding to the cost-saving benefits for businesses.
2. Favorable Government Incentives
The Dubai government offers various incentives, such as tax holidays, free zone benefits, and grants, to attract foreign investment and stimulate economic growth.
3. Lower Operating Costs for Businesses
Dubai’s free zones provide businesses with cost-effective solutions, such as affordable office spaces, reduced regulatory costs, and the ability to own 100% of the company without needing a local sponsor. This contrasts with Singapore, where business costs, such as real estate and labor, are higher.
4. Golden Visa
Dubai offers the Golden Visa program, which provides long-term residency (generally 10 years) visas to investors, entrepreneurs, and professionals to facilitate their stay and business activities.
5. Attractive Lifestyle and Quality of Life
Dubai offers a luxurious lifestyle, with world-class infrastructure, healthcare, and education. The city is known for its high-end shopping, dining, and entertainment options, all in a safe and family-friendly environment. Additionally, Dubai’s large and diverse expat community makes integration easier for newcomers from Singapore.
6. Geographical Location and Market Access
Dubai is located between Europe, Africa, and Asia which makes it an ideal base for businesses looking to access global markets. This location opens doors to untapped opportunities in the GCC and African regions, which are growing rapidly. Singapore’s location, while strong for Asia, doesn’t offer the same reach into these markets.
How to Move to Dubai from Singapore?
When moving to Dubai from Singapore, understanding the visa requirements and available residency options is crucial. Here's a breakdown of the most common types of visas for individuals & business owners:
A. For Individuals
Moving to Dubai from Singapore requires careful planning, especially when it comes to securing the right visa and residency options. Here are the most common visa types:
1. Work Visa
Dubai Work visa is for individuals who have secured employment in Dubai. The company sponsoring you will handle most of the paperwork. Residency in Dubai for the duration of your employment, plus access to Dubai’s healthcare and other public services.
2. Investor Visa
Investment visas are granted to individuals who make a significant investment in Dubai (e.g., real estate, business). The specific requirements and investment amounts vary depending on the type of investment. However, the investor visa allows you to live in Dubai, own a business, and sponsor family members. It typically lasts for 3-5 years.
3. Golden Visa
The Golden Visa is available to investors, entrepreneurs, professionals, and exceptional talents (scientists, doctors, etc.). It grants long-term residency, typically up to 10 years. The minimum investment amount varies depending on the category
4. Dependent Visa
Dubai dependent visa is issued to family members (spouse, children, parents) of individuals who already hold a valid residence visa in Dubai. It allows family members to live in Dubai under the sponsorship of the primary visa holder.
5. Student Visa
The visa is issued to students enrolled in universities or educational institutions in Dubai. The student visa allows individuals to live in Dubai for the duration of their studies.
Process for Obtaining a UAE Residence Visa (For Individuals)
To live in Dubai as a resident, individuals must follow the steps below to obtain their residence visa:
1. Gather Required Documents
Prepare all necessary documents, such as passport, visa application, medical fitness certificate, and any other supporting documentation.2. Entry Permit
Once you’ve applied for a work, investor, or other visa, you will first receive an entry permit, which allows you to enter Dubai and begin the process of formal residency.
3. Medical Test
After arriving in Dubai, you’ll need to undergo a medical fitness test to confirm you are free of contagious diseases.
4. Emirates ID Application
You’ll need to apply for an Emirates ID, which is a national identification card used for various services in Dubai (banking, driving license, healthcare, etc.).
5. Residence Visa Stamping
The final step is to get your residence visa stamped in your passport. This stamp confirms your legal residency in Dubai.
B. For Businesses
Moving or expanding your business from Singapore to Dubai is a strategic decision. Dubai offers two main options for business setup: Mainland and Free Zones. Each comes with its own set of advantages and requirements, depending on the nature of your business and your expansion goals.
Mainland Business Setup
This is for businesses that want to operate freely across Dubai, the UAE, and internationally, without geographic restrictions. Key benefits include:
- Operates within the mainland territory of Dubai.
- Businesses can be fully foreign owned.
- Can trade with both local and international markets.
- Wide range of business activities
- Eligible for Government incentives and contracts.
Best Suited For: Retail, restaurants, consultancies, trading companies, construction, and other businesses that require access to the local market.
Free Zone Business Setup
Suitable for businesses focused on international trade, exports, and services that don’t necessarily need to operate within the local UAE market. Key Benefits:
- 100% foreign ownership allowed.
- No corporate or income tax in many free zones.
- Customs duty exemptions for goods imported and re-exported.
- Simplified business setup and registration process.
Best Suited For: E-commerce, IT services, logistics, media, manufacturing, and consultancy services looking to export internationally.
Types of Business License
The type of license required for your business in Dubai will depend on the specific industry and activities you plan to engage in. Some common license types include:
1. Commercial License
For businesses involved in trading activities (import/export, retail, general trading).
2. Industrial License
For companies involved in manufacturing or production such as factories, food processing units, and manufacturing plants.3. Professional License
For providing various services, such as consultancy, tourism, and professional services.4. Freelance License
The license is issued to individuals who want to work as freelancers in specific sectors (media, IT, design).Process of Obtaining a Dubai Business License
To move your business from Singapore to Dubai, follow these steps to obtain the right business license:1. Choose a Business Activity
Select the specific type of business activity you want to engage in.2. Select Business Structure
Choose the legal structure for your company, such as a Limited Liability Company (LLC), Sole Establishment, or Branch of a Foreign Company.
3. Select a Business Name
Choose a unique and available name for your business.4. Prepare Documents
Submit the required documents for your business setup, including:- Passport copies of owners and partners.
- Proof of residence in Dubai (if available).
- Memorandum of Association (MOA) (for Mainland companies).
- Business plan (for some Free Zone businesses).
5. Secure Office Space
You’ll need to secure a physical office space as part of the business license process. This can be in a co-working space, a physical office, or a virtual office (for Free Zones).
6. Register Business with DED
Submit your business license application to the Department of Economic Development (DED) or the relevant free zone authority.
7. Obtain the Business License
Once all documents and approvals are in place, you can obtain your business license.
8. Apply for Visa
After receiving your business license, you can sponsor employee visas, including your own as the business owner.
Comparison of Cost of Living in Dubai vs. Singapore
When considering a move from Singapore to Dubai, one of the key factors to evaluate is the cost of living. While both cities are known for their high standards of living, they differ in various aspects such as accommodation, lifestyle, and healthcare.
Accommodation & Utilities
Rentals in Dubai are generally lower than Singapore, especially for apartments outside the prime city center. However, luxury villas and high-rise apartments in prime locations can be comparable or even more expensive.
For example, a one-bedroom apartment in a desirable area might pay around AED 70,000 to AED 100,000 per year. More affordable options are available in areas like Al Barsha or Jumeirah Village Circle, where rents can be lower.
Utilities like electricity, water, and internet are typically cheaper in Dubai than Singapore.
Lifestyle
Dining out in Dubai can be relatively affordable, with a meal at a mid-range restaurant costing around AED 100 to AED 200 for two people. Grocery prices can vary but are generally comparable to Singapore. However, costs for entertainment like movies, concerts, and theme parks can be similar or slightly higher in Dubai compared to Singapore.
Public transportation in Dubai is generally cheaper than Singapore, with a well-connected metro system and affordable taxi services.
Healthcare and Insurance
Both Dubai and Singapore have public healthcare systems, but the quality and accessibility may vary. Dubai offers a mix of public and private healthcare options, while Singapore has a strong public healthcare system.
Health insurance is mandatory for residents, and employers typically provide coverage. If self-employed or not covered by an employer, private health insurance can cost around AED 5,000 to AED 10,000 annually for an individual. Coverage varies by plan and provider.
So, Dubai may be slightly more affordable than Singapore in terms of accommodation and certain lifestyle expenses, it's essential to consider other factors like healthcare costs and personal preferences when making a decision.
How Shuraa Can Help You Relocate?
Moving to Dubai from Singapore presents a compelling opportunity for both individuals and businesses seeking new opportunities. The city's world-class infrastructure, excellent healthcare facilities, and safe environment make it an attractive destination for families and individuals seeking a better work-life balance.
At Shuraa Business Setup, we make the move to Dubai easy and stress-free. We can help you with everything from starting your company and getting the right licenses to sorting out visas and more. Our experienced team is here to guide you through every step of the process.
If you’re thinking about making Dubai your new home or business hub, let us help you get started. Contact Shuraa Business Setup today, and we’ll make sure your move to Dubai is smooth and successful.
