http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aUqrw1WTZtNk
While in Dubai, we are thinking in terms of being the financial center of the future, the present comparison by Bloomberg does not even feature the city.
An interesting tax comparison for a person earning $1 million from Bloomberg is copied here:
As of April 1, 2010 City Income Tax Social Security Total London 477,519 13,759 491,278 Frankfurt 476,469 10,339 486,808 Paris 350,786 110,342 461,128 Mumbai 338,050 120,000 458,050 New York 414,250 18,520 432,770 Zurich 363,694 54,492 418,186 Tokyo 349,655 12,260 361,915 Singapore 190,366 1,180 191,546 Hong Kong 149,859 940 150,799
In my opinion, they should all move to Dubai ... no tax and rents are really down. Lifestyle is quite good also.
At least Abu Dhabi residents are doing this. I am seriously thinking of moving to Dubai as well.
ReplyDeleteWhile no tax, lower rents, and a decent lifestyle are valid and very attractive reasons for big banks to move to Dubai, there are other important factors to consider such as a fair and transparant legal system as a well as aneEducation system of international standards that meets the requuirements of expats and that provides a steady stream of talented and skilled individuals. Also, there is one more city not mentioned in the list that Banks would consider moving to before Dubai...Geneva!
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