Originally Posted by CHFIII
So ...is this just a general life thread or do phonelists of high salary expats float around in Dubai generating a lot of cold calls to tell you about amazing 'opportunities'????? IE, is it any worse than anywhere else? Makes sense I guess, we're thinking of coming because there's an opportunity to put away significant savings and I'm pretty sure I wasn't the first guy that occurred to. I'm still figuring out what needs to be in a package to make it worthwhile. Am I missing something here? Once money is in the bank it's 1's and 0's and I'd assume people would use planners 'back home' where there is a more comprehensive regulatory environment environment.
What's the pitch? Are they pushing high risk, high yield stuff you can't pitch in the US unless it is to a 'qualified investor' or are they just pushing whatever can be pushed figuring there are lots of people with more disposable income than common sense working in Dubai????
All of the above!
You find that there is a mix of seasoned expats and new expats in places like Dubai. The seasoned expats, like you say, already have their futures mapped out and work with trusted advisers.
The problem is with new expats who suddenly have a lot more money than they might be used to back home. Less scrupulous advisers will be looking at all ways to encourage these new expats to invest in the future - maybe with their high commission products and maybe without the financial protection that they may be used to in their home countries.