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Low tax and lifestyle attract expats to Gulf

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Expats are increasingly drawn to Gulf states thanks to low tax rates and an upmarket lifestyle according to a recent study.

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The Middle East Asset Management Study 2015 found that although tax and money were important factors for expats, all year sunshine and good living were of equal importance.

Many expats have lived in the region for a long period of time and are now considering retirement. Around eight in 10 western expats are from Britain with an average stay of 13 years. While Arab expats from outside the Gulf stay for nearly 17 years, Indian expats average 18 year stays.

The survey also showed that despite popular views to the contrary, expats do like to stay in the same place. Nick Tolchard, head of Invesco Middle East said: “This report is aimed at financial service firms and one of the myths that seems to have been overturned is expats do not like to stay in one place too long and prefer a mobile lifestyle. However, quite the opposite seems true is they find somewhere they like to live, and the high salaries, low tax and other benefits of the Gulf states seem to encourage expats to stay for some years and sometimes even into retirement.”

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The report also noted that the Gulf States had a good work/life balance and a stable political and economic environment. There were still some things the region could improve upon for expats though. Tolchard said: “The research shows the Gulf has a well-established retirement community who have lived in the region for 20 years or more. But many expats told us that they would consider living in the Gulf for longer if the governments made some effort to make immigration and residence easier for outsiders.”

Losing jobs and retirement were given as the main reason for expats leaving the Gulf. Families also said they were more likely to stay in the region as education opportunities improve.

Are you based in the Gulf region? We would be interested to hear about your experiences…


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