The Middle East

The Middle East is well-known for its fantastic climate, luxury lifestyle, and regionalised tax-free benefits. Because of this, the number of financial jobs in Dubai and the Middle East has been steadily increasing over the past few years as the Middle East continues to establish itself as a major player in finance and international trading.

A reason for the Middle East’s rise as a trading power is the fact that it can trade during time zones not covered by traditional financial centres such as New York and London. Coupled with the lure of fantastic remuneration packages (whereby workers are not required to pay income tax), the prospect of working in the Middle East has attracted expatriates from all over the world to join its workforce in recent years.

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The most common and simple way to gain working status in the Middle East is to let your potential employer handle your visa application. The only way to gain a Residency Visa is via sponsorship, which is not in the hands of the employee. You must be in possession of a Residency Visa, issued by your employer, in order to obtain necessary living facilities such as a bank account, a driving licence, and health insurance.

You may find that contacting immigration authorities to research employment visas is a bit of a dead-end; you should not let this trouble you as it is the norm that your employer organises and orchestrates all visa aspects (and often accommodation issues) entailed in the relocation process.

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It is recommended that before you decide to take up a job offer, you visit the Middle East in order to learn about local customs and practices, and also to get a general feel for your new potential workplace. The Embassy of the United Arab Emirates, London provides limited information on visit visas and types of sponsorship available. For visa information, visit the UAE Embassy website, then click on the “Visa” button on the left on the homepage. For visa information concerning other countries in the Middle East, you can access the relevant link below:

 

Jobs in the Middle East

Whilst you can find great opportunities in many locations spanning the Middle East, the hub of most finance activity in the Middle East is Dubai in the UAE. Dubai tends to attract higher-end finance professionals with prospects of unrivalled salaries and benefits. Most opportunities therefore tend to involve directorship, controllership or management of a team as these roles tend to warrant greater financial reward.

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When applying for jobs, you need to be aware of common practices in the Middle East that you may not have considered whilst you’ve been working elsewhere. For example, employers in the Middle East find it rude or lazy if they do not receive a phone call, email or letter from you within a couple of days after your interview, thanking them for their time and highlighting anything you think you may have omitted at interview stage.

Be sure that you’re not caught out by any unfamiliar customs during the job application process, and read the tips and articles found on Career MidEast.

Job title Salary (AED) Salary (GBP)
CFO 720,000-960,000 125,000-180,000
Head of Internal Audit

480,000-700,000

80,000-120,000

Finance Director

480,000-700,000

80,000-120,000

Managing Director

525,000-640,000

90,000-110,000

Operations Manager

525,000-640,000

90,000-110,000

Finance Manager

465,000-640,000

80,000-110,000

Research Analyst

300,000-420,000

52,000-72,000

Financial Controller

290,000-360,000

50,000-62,000

Financial Accountant

290,000-350,000

50,000-60,000

Lifestyle in the Middle East

With regards to how you’ll be spending your free time in the Middle East, it’s best to either visit your target location first or to read heavily around the area you plan to stay in. Otherwise, you may be surprised by cultural differences such as the requirement of a licence to buy alcohol for personal consumption, or the illegality of smoking, eating and drinking in public during daylight hours during the month of Ramadan. For information about lifestyle in a city like Dubai, it can be useful to search blogs or forums. There are plenty of detailed articles on the internet to help expatriates to prepare for the adjustments they may have to make after relocating.

It is important to note that Friday is a religious day in the Muslim calendar, and for this reason your weekends will be centred around this day. If you are working for an Arab company, then it is possible that you will be asked to work a 6 day week, with the Friday being your day off. Most Western companies will allow you to have two days off a week, but Friday will be one of these days.

Cities in the Middle East, whilst often very strict on issues such as law-enforcement and the regulation of alcohol, are very service-driven. Luxuries such as maid services will prove to be very cheap, and you can expect to be waited on for far cheaper than in the United Kingdom.

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Although the property market in the Middle East’s major cities is currently booming, it is still possible to buy or rent property at a reasonable price, depending on the proximity to the city centre of your desired abode. For more help with your overseas property search, visit Homes Overseas.

Middle-East locations are world-renowned for sterling healthcare and education services. If you are weighing up the pros and cons of relocating, it may be useful to you to research the regional services available in your desired location. It can also be beneficial to browse expatriate sites to find FAQs regarding moves and to get in touch with expatriates who have already experienced the joys of relocating.

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