Wise investors believe that Dubai is the magnificent safe port of investment for uncountable rational reasons, that made Dubai, UAE an incomparable investment destination to move assets to, But here we're illustrating the Straightforward facts about Dubai not only as an ambitious fancy place establishing a new business in, but also studying the long term future of investment in Dubai, and why Turkey is the most acceptable alternative that easily would compete Dubai's investments opportunity basis, on the logical extended-term.
Dubai's economy vs. Turkish economy:
Dubai's economy might look the safe untaxable ground for many businesses man, but let's be honest here, you're not paying different types of investments as a consequence of saving and making more money, but first let us frankly ask, can foreigners from different nationalities establish their commercial registry quickly without having Emaratie partner? Secondly, would you gain the nationality of the UAE by setting up a company or buying a property in UAE? What does the UAE economy rely on for the next ten years? Are there other economic sources and resources other than oil and tourism on which the UAE economy depends?
- let us answer the concerns progressively and build comprehensive knowledge that allows you to determine the accurate answer yourself:
1- Mandatory partnership:
Primarily and due to the decreased population of the UAE nation, the government set punch of rules securing the citizen's rights in different aspects and division of life, for instance: many Arabian nationalities aren't allowed to establish a commercial registry in order to build a company in UAE without having an Emratie partner, WHILE in Turkey 99,9% of foreigner nationalities are freely able to create a new solid business ground without having any restrictions or rules, IN OTHER WORDS, more money will be saved 50% for yourself. There's a crucial point to consider in Turkey: the labor force constitutes a large proportion of the total population density that equals 30%, the most efficient in Europe.
Speaking of the workforce in Turkey compared to Dubai, you will abandon exporting the labor force from East Asia, Contrary to what you have to do in the UAE. Also, you are not obligated to pay most of the labor costs, in the Arab Emirates, accommodation, education wages of employee's children, health insurance, travel costs, in addition to the salaries of workers and employees are high relatively compared to the system and protocol of employment in Turkey, eventually, Turkey making higher, safer, and way fair profitable income, based on the previous logical cooperation.
2- Citizenship by investment in Turkey vs. Dubai:
The total area of the United Arab Emirates, in addition to its population, is relatively low, compared to the size of Turkey, we find that the Emirates doesn't constitute 20% of the total area of Turkey, and therefore logically, it is inconceivable to grant Emirati citizenship to foreign investors by investing or creating a commercial company, due to the number of foreign investors will simply exceed the number of UAE nationals gradually, on this basis, the UAE government doesn't and won't have a program to naturalize foreign investors at all.
In contrast to Turkey, which established a program to grant Turkish citizenship to foreign investors through investment in 2018, this program gives foreign investors the right to endow Turkish citizenship to the wife and children under the age of 18, which has made Turkey a destination and an unmissable opportunity for considerable foreign investors, significantly since recently the demand for the second passport has increased, enabling its holder to have freedom of movement and comfortable accessibility globally, all of these privileges achieved by owning and buying real estate in Turkey, at a time when neither investing nor purchase real estate in the United Arab Emirates gives you any of these advantages, even if the period of residence in Dubai is for a lifetime.
3- The strength of the Emirates economy in the next ten years vs. Turkey:
Since the founding of the United Arab Emirates and until Today, it has been relied on extracting oil and pearls from the Arabian Gulf's waters as a source of strength for the UAE economy, progressively, UAE's government has been working on establishing other sources of national income and increase the GPA, such as real estate developers, which witnessed a significant economic jump in the UAE national income, However, Today, after 51 years of establishing and empowering the UAE economy and prosperity, we find that the UAE economy, in the most influential cities such as Abu Dhabi and Dubai, is experiencing a noticeable economic stagnation, for several reasons, but the most significant of them are:
- The global economic recession, which affected the Arab Gulf in general
- The UAE economy has reached its peak in many fields, which made it an economic and investment destination for a relatively small elite group within the free business market and the establishment of companies
- The high cost of living in the United Arab Emirates compared to many surrounding countries on a regional level
- The absence of any additional advantages of investing in the Arab Emirates for foreign investors, such as granting citizenship for foreigners.
While Turkey is today considered a fresh emerging economy on the national and global competitive scale, based on this methodology of substantial arising national economy and markets, become an alternative destination for ambitious global citizens, to create a new successful bridge of money and accessible profit with additional privileges such as:
- A flexible, competitive market that attracts and offers various opportunities to diverse financial abilities, rather than being a financial minority elite club.
- The plurality of income sources for the individual within the Turkish society, in addition to the prevalence of living resources, allows the various income earners to have a comfortable life.
- An emerging economy based on new financial policies (Islamic banking) that competed with the most critical global economic-financial systems
As a final consequence, we must note that when the wise foreign investors aspire to transfer their assets from their hometown and invest in a foreign country, they work on studying the long-term investment's future, not only in the short term that achieves immediate profit, therefore, based on all of the previous discussion, we believe that the Turkish market owns the future, due to the presence of a robust infrastructure, a plurality of resources and opportunities, attractive qualities as granting Turkish citizenship for foreigner investors, a high academic education system that competes with European countries in terms of quality and cost, plus emerging market that provides the opportunity for participation and profitability for all, a vast space and a developed cultural population that has all the necessary basics for constructing a refreshed life for your family in Turkey, and other countless advantages.
Here we are not saying that Dubai or the United Arab Emirates, in general, is not an acceptable option for investment. Still, the world is constantly developing; it does not make sense to remain in the same well-marketed spot, so move forward and explore the new future you deserve.
Ultimately, we must draw your attention to the fact that our company has an admiringly professional team, which is entirely prepared to deliver its expertise in many fields; go ahead and send us an email or text us via WhatsApp, and our team will equip you with the necessary knowledge about real estate in Istanbul, whether a luxury villa by the sea, with private garage for your new Turkish car, or any other concerns about life in Turkey, Nature in Turkey, regulations, and laws of Turkey, we're here to assist you the way you deserve.