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No income tax, great weather in winter, horrible weather in summer
Generally a great lifestyle in terms of the service / shopping / food industry
DM me if you want more info but spent quite a bit of time out there. I loved it but many hate it. Its awesome for short stays (up to 4 months etc) but can be a bit monotonous if you're there permanently. Everything works and extremely safe and clean. If you like mid east, you'd love it but its not like being in the West. You can always drive to dubai in an hour and that is far more liberal and sociable. AD is more conservative and quieter so better for married/older people. not a party town like Dubai. However, you can always live in southern dubai and then drive to AD daily if you prefer. Strongly recommend getting a car, sunscreen, sunglasses, and an ability to relate to a wide range of people.
AD is the more mature, older brother of Dubai.
Lifestyle is great if you like laid back. Weather is great most of the year and in summer you don’t go outdoors in the day because of work so it’s not bad at all.
One thing I’d call out, as the other guy said, is be able to relate to people from more backgrounds than you could ever imagine. The UAE is very multicultural and you’ll gain an appreciation of the world that you can get in few other places.
Would highly recommend. Can always move back if it’s not for you.
Have spent a lot of time there and in Dubai and now (for context) am back in London.
I thought it was a horrible place personally, full of the sorts of people who would boast about never having read a book and could only ever talk about what kind of sports car they wanted to buy next. The women were hot though (and will be interested in you purely because you have money), and the weather was as mentioned above. A lot of the expats (corporate ones) are average at best, generally the sorts of people who couldn’t make it in tier one cities. In Dubai especially every other building is either a mosque or a shopping centre, there’s not really much in terms of culture.
Other people really liked it though, depends on what you are into.
So AIDA, QIA, etc. are is being operated by average individuals? There is always an idiot with an amusing comment.
I worked a lot with the sovereign wealth funds and honestly yes these people were not the same as your average Associate at a similarly sized fund in London. The seniors were generally ok but the gap was glaring at the junior level. I would say the best way to game the low-tax system is to get some reps as an investor in London then move over and you’ll probably be competitive for senior roles within quite a short time frame.
Expats were leagues ahead of the locals though, imagine as a junior banker having to walk through a DCF or capital structure analysis with an inbred Prince who’s never worked in his life… as soon as the rest of the world gets off oil these people will have nothing going for them.
OMG ! I would 100% agree with you on the quality of expats you meet ! Weather etc !
it can be boring after a while...I have lived there as a single female...safe of course but the quality of people, dating, options of products felt like it was a downgrade from Manhattan.
However, life is easier, cleaner etc. over there in UAE. Salary wise, I get it why mostly British go there not Americans even if it is Income Tax free - salaries are way higher in NYC...
Also, as an American citizen you are taxable in the US even if you live abroad, so i suppose they don't even profit from the tax advantages in Dubai, do they ?
Will be moving out there. Will update the rest of you apes when I have experienced what it is like.
Any update? Got an offer to join a SWF in AD in a senior VP / Director seat. Any advice / suggestions especially negatives since I know the positives. Thank you!
I actually lived there in high school (currently in US). Main negatives is just going to be the culture shock (more conservative, less alcohol / partying, moving away from friends and family etc). Other than that, great place for a few years.
If you don't mind me asking, what's your work experience / comp range for this role? I'm looking to move back to AD and targeting VP roles. Feel free to reply with your username and I can DM you too
Was this for direct investing or fund investing at the SWF?
Tiny landscape, few swfs and MMs. Surprised there aren’t more funds given time zone and taxes.
Seems to be changing with with a few MMs opening up there
Mostly for experienced PMs to give options (which many don’t consider bc of family etc). Ecosystem and career trajectory way different ballgame than New York or even London.
What firms are there apart from the SWFs and very few MMs?
Are you seeing many funds out there? Is it all MMs only?
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