MyDubai Media Broadcasts

MyDubai Media Broadcasts: Cost of Living in Dubai

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More and more people are flocking to the most populous of the seven United Arab Emirates. Over the past five years, more than 500,000 people have left their homes and moved to Dubai, topping 3 million for the first time in 2023. With over 90% of the population being foreigners, Dubai is a meeting point for different cultures, facilitating interaction despite language barriers.

Low taxes, high levels of safety, low crime, and many professional and business opportunities have fueled the rapid population growth.

Cost of Living

Living in an exclusive tower in the heart of Dubai overlooking the Burj Khalifa and the Dubai Fountains, rent for 80 square meter apartments can cost $5,500 or more per month.

However, near the city center, you can rent a good two-room apartment for $550–900 per month. In most cases, residential complexes in Dubai provide a swimming pool, gym, and often a 24-hour supermarket.

Single people can expect monthly living expenses of $900 to $1,700, including rent. The cost may vary significantly depending on the selected location in Dubai.

Since the beginning of 2020, unmarried couples are allowed to live together in the same apartment, their living expenses range from $1,400 to $2,700.
Families of 4 can expect living expenses between $3,400 and $5,600 per month. Many gated communities in the heart of Dubai are ideal for family living.

Cost of Emigration to Dubai

The cost of emigration to Dubai depends on many factors. Registering a company in Dubai to obtain a residence permit can cost between $9,500 and $17,000.

If you’re looking to purchase property or retire, the cost of residency, including all fees, is around $3,300.

Taxes in Dubai

Dubai is rightly considered a tax haven, where most companies and individuals are exempt from taxes, except VAT.

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VAT in Dubai

Since 2018, Dubai has introduced a 5% VAT, which only end consumers, as well as companies with sales volume exceeding $120,000, are required to pay.

There is no income tax for employees, entrepreneurs, and self-employed people. In addition, there are no non-salary labor costs. All income is completely tax-free unless you are a tax resident of another country.

Health Insurance and Medical Services

The most affordable health insurance costs just $30 a month. For more comprehensive coverage, you can pay between $115 and $350 per month. Dubai also provides many local and international hospitals.