For prospective workers looking to get jobs in Dubai it is important to have a fully rounded view of the state to which they’ll be moving. Lifestyle changes in moving from a Western nation to Dubai will be enormous, with religious and cultural differences creating a completely different environment. Care and attention should be taken when learning about not only regional laws and traditions but also social security, of which there is little in Dubai for the expatriate.
Having no form of mandatory employee contribution scheme in Dubai, it is left to expatriates to organise their own form of financial security. Nationals of the Gulf States benefit from the regions huge GDP compared to population size, allowing for individuals to access health care, child care, pensions and more without the need of paying into an ongoing scheme. Meanwhile however, apart from access to healthcare, foreign workers have little access to any other forms of social security, meaning that it falls to the individual to ensure that their income covers all outgoing costs.
There are also no state pension opportunities for expatriates to take advantage of though, depending on the firm, some corporate schemes may exist. It is therefore generally advised that those moving to Dubai for work continue to pay money into home country schemes, allowing for pension trusts to be cashed when eventually ending a contract and moving home. Meanwhile, with the increased income attractions of Dubai it is highly recommended that individuals use some of their excess income to set up financial security accounts in case of an emergency.
