Thread by @thealepalombo

This is Singapore vs Dubai:

- Singapore: The billionaire's hub (in flip-flops)
- Dubai: The tax-free oasis (in Lamborghinis)
- Two paths to freedom

I spent 4 years in Dubai, incorporated 2 businesses in Singapore.

Here's my breakdown of who should choose which city (and why):

First, a quick background comparison:

🇸🇬 Singapore: Fishing village to global financial hub in one generation. Now manages $2T+ in assets.

🇦🇪 Dubai: Desert to metropolis in 30 years. Sheikh's vision of a tax-free haven brought to life.

Both have seen incredible rapid growth.

Quick key stats:

🇸🇬 Singapore:

- #1 safest city
- 22% max tax (0% on major gains)
- world's 4th largest financial hub

🇦🇪 Dubai:

- #4 safest city
- 0% personal tax
- new 9% corporate tax (with exemptions)

Both have specific perks.

Let’s dive into the details!

1. Daily Life

🇸🇬 Singapore:

- Relaxed wealth scene
- Great mix of city and nature
- Elite healthcare and education

🇦🇪 Dubai:

- Wealth on display
- Fast opportunities
- Strategic timezone

@WealthyExpat shares his views on the nature in these cities:

2. Climate

🇸🇬 Singapore:

- Tropical
- HUMID year-round
-25-32°C (77-90°F)

🇦🇪 Dubai:

- Hot desert
- Mild winters
- Summer can hit 45°C (113°F)

Climate can be deal-breaker. In different ways for both.

3. Business Environment

🇸🇬 Singapore:

- #2 for ease of doing business
- Gateway to Asian markets
- Company setup process in 1-3 days
- Capital gains 0%
- 17% corporate tax, but extensive exemptions and incentives available
- 100% foreign ownership allowed

🇦🇪 Dubai:

- Top 20 globally for ease of doing business
- Bridge between East and West markets
- Free Zone company setup in 3-5 days
- 9% corporate tax, 0% in Free Zones under certain conditions
- 100% foreign ownership allowed

Both offer world-class infrastructure and support.

4. Banking

🇸🇬 Singapore: Ultimate wealth preservation

- Private banking rivals Switzerland
- Top-tier asset protection
- 700+ family offices

🇦🇪 Dubai: Fast & flexible

- Quick account opening
- Rapid company setup
- Digital banking not as efficient as SG

5. Residency Reality

🇸🇬 Singapore:

- Tough entry
- Citizenship possible in 2-6 years (but VERY expensive)
- Top-tier passport

🇦🇪 Dubai:

- Multiple visa options
- Relatively easy golden visa
- But no citizenship path

Choose based on your long-term goals:

🇸🇬 Singapore = Stability, integration, global access

🇦🇪 Dubai = Tax benefits, business ease, flashier lifestyle

The Challenges:

There’s some hidden ones…

🇸🇬 Singapore:

- Cost of living VERY high, especially housing
- Did I mention it’s HUMID
- Cars are SUPER expensive

🇦🇪 Dubai:

- Little to no permanency
- BRUTAL summers
- Controversial inequality

So…

Which should you choose?

🇸🇬 Singapore is hard to beat if you value:

- Asian market access
- Stability & long-term planning
- Top-tier banking, education & healthcare

And in the other corner…

🇦🇪 Dubai if you prioritize:

- 0% personal tax
- A free and luxurious lifestyle but less permanent
- Being around young entrepreneurs

But here’s my honest take after years in both:

For Europeans and also Americans, Singapore means being very far from home and timezone.

If that’s problematic, Dubai wins IMHO.

If not, Singapore and asian exposure it’s a big plus.

Especially considering how and where the world is evolving towards on a macro scale.

The secret is to find ways to utilize them both at different times.

That is when you have true sovereignty and freedom.

I’d relocate back in Dubai happily, although Abu Dhabi is also attractive.

These days I am frequently in Singapore and I love it!

Which wins for you?

Let me know in the comments!

P.S. I’m on a mission to design the future of citizenship.

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Thank you for reading!

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