Dubai Forums Dubai Expat Forums Dubai Expat Help Forum

Hi Everyone,

I'm new to the forum and I've really enjoyed your commentary. I have a question of my own and I would really appreciate some feedback.
A friend of mine told me that he's planning to move to Dubai because there are incredible opportunities in finance, particularly energy, for people with our experience. He said we could receive upwards of 40,000 ADH per month including many benefits. Is he correct, because if so then I'll be joining him.
My qualifications: US Citizen of Lebanese origin, I speak English, Arabic, and French fluently. I'm about to receive an MBA in finance. 7 years experience as an analyst in investments, particularly oil and gas. I also deal with clients so I'm personable. I currently work for UBS. What do you guys think? Please reply because I'm very interested. Thanks in advance

Whilst jobs for 40,000 AED per month do exist, its not a simple matter of plucking them off trees.

Like Ian I will presume you mean AED, as ADH is not an acronym for any other form of currency.

From personal experience I can say yes, there are jobs within the finance industry that fit the job profile you have been described. I've been fortunate to fall into this range. However, Ian's point is true - these jobs don't just grow on trees.

As rosey a picture that has been painted to you the streets of Dubai are not paved with gold.

Why dont you try and move out to dubai with UBS ? they must be planning to open up here with DIFC and all .. right?

depending on age / experience those jobs are out there. however, i'd advice you to focus more on the 30K mark first as that is much more realistic.

of course, if you're talking about anything which is based on commissions/bonuses then the sky's the limit.

MaaaD wrote:Why dont you try and move out to dubai with UBS ? they must be planning to open up here with DIFC and all .. right?

Yes.

http://www.difx.ae/press_centre/2005/26_september.html

The DIFX opened with four member banks – CSFB (Europe) Ltd, Deutsche Bank AG, HSBC Bank plc and UBS AG.

First of all, you guys are great. Thanks for getting back to me so quickly and with such helpful information. I do realize that jobs like that aren't easy to get, but I was curious whether they were possible.

I have another question. If I were to transfer with UBS, would I pay taxes on my income as opposed to moving to Dubai and getting a job for a local company. Thanks again for your help and I'm sure we'll be chatting soon.

dgtlsammy wrote:I have another question. If I were to transfer with UBS, would I pay taxes on my income as opposed to moving to Dubai and getting a job for a local company. Thanks again for your help and I'm sure we'll be chatting soon.

That depends on your tax residency status which depends on where you're living usually but possibly your nationality eg US citizens are taxed on worldwide income.

Yes really the question is more complex. Your income is only taxable if your outside the US only if your income is over a certain amount. Now if you are not working for an American company that is not reporting your income to the IRS (W-2) then there is no way the IRS will know how much you are making

As always with taxes there are always caveats, twists and turns .. right Arnie ?

MaaaD wrote:Yes really the question is more complex. Your income is only taxable if your outside the US only if your income is over a certain amount. Now if you are not working for an American company that is not reporting your income to the IRS (W-2) then there is no way the IRS will know how much you are making

As always with taxes there are always caveats, twists and turns .. right Arnie ?

Over what level does you salary become taxable for a U.S. expat?

$70,000 per year

here is a good link:

http://www.irs.gov/faqs/faq13.html

Which is closer to $21,000 - $22,000 Dirhams a month at present

MaaaD wrote:Now if you are not working for an American company that is not reporting your income to the IRS (W-2) then there is no way the IRS will know how much you are making

If they want to find out, I expect they would.

ajb wrote:Which is closer to $21,000 - $22,000 Dirhams a month at present

You mean Dirhams, not $Dirhams right?

yeah just Dirhams .... is there a symbol used for Dirhams similar to $ for dollars? or do you just write the number without any symbol i.e. 21,000

ajb wrote:yeah just Dirhams .... is there a symbol used for Dirhams similar to $ for dollars? or do you just write the number without any symbol i.e. 21,000

Correct code is AED (like using NZD or USD or STG etc). No symbol but Dh or Dhs or dhs is commonly used. Don't know if it should be before or after the number, I've seen both.

sharewadi wrote:If they want to find out, I expect they would.

Any competant third year+ auditor would be able to find that out.

i stress competant, the IRS doesnt have many of those

MaaaD wrote:i stress competant, the IRS doesnt have many of those

Yes, there's a reason why I said competant 3 year+ not just any 3 year+