Most of the world is shut off to Russians, but not the UAE. Apposite and timely decisions make the succeeding events far better than one might expect. UAE has long been a harbor of global talent, wealth and investments and now it is more so, with its initiatives and policies. In the wake of Russia-Ukraine war, the decision taken by UAE of not being part of sanctions imposed on Russia has made Dubai the most favorite destination for those seeking refuge from the war and work devoid of sanctions – seeking life itself.
Dubai is not new to Russians. They have always been part of the cultural medley of colors with their presence especially in the marina. However, the war has caused a record influx of Russian nationals to the UAE and they made the largest group of real estate buyers in the third quarter of 2022. On the face value it might be a good way for Russian investors to park their money in a safe zone but deeper down it is a way to skirt sanctions imposed by the rest of the world. The Russophobia has taken over the world and Russians are paying the price for it.
Not only for business owners, for any other professional or artists, carrying some expertise, the UAE is an equal opportunity abode. Multiple reasons make it a wonderful place for them, the most important being easy requirements for a visa. For Russians, the easy route to residency starts with an on-arrival 90-day visa as a tourist and converting it into a 2 or 3 years resident visa if they find a job or start working as a freelancer. Dubai offers a high standard of living and low tax rate unlike many other countries in the world.
Ambitions also bring few Russians to the UAE. They wish to invest in a place which is one of the safest economic zones. Real estate sector offers uncountable possibilities here. The money meets the right choice. At different trade events, the 'Made in Russia' marquee is enlarging in size and approach, not only on individual level but on governmental level too. The UAE and Russian governments are collaborating and tying stronger knots on strategic and economic grounds. That is also opening new doors to Russians in UAE to work and stay in peace. In a tough situation when bank cards are not acceptable, Russians are finding less trouble transferring their funds to Dubai.
Last but not least is the mental health that's keeping a lot of Russians from going back to beloved Moscow. Not everyone can take the pressure in the midst of a war zone - where every conversation, every action is about war - and still be relaxed. Russians who found UAE a beautiful destination for vacations, might not go back soon, instead they'd prefer to stay and find new opportunities.
Russians may always look back to their beloved homeland; however, until the situation is ripe for them to do so, Dubai offers itself as a safe, prosperous and happy patch on the world map.