Financial Services Contracting in Dubai
Discussion
My fellow PH'ers
I'm very thankful of the UK government for ruining contracting by the cheeky device we all love, IR35. My current client (bank) has given me the 'get out or PAYE' message, so I'm irked by that.
25 years in FS, 10 years as a contract Programme Director in Risk/Reg/Compliance etc. Most of my work in the UK but some in Europe, the US and Africa.
So heres the question - anyone know of any good, solid agents in UAE for Fin Servs work? I'm on a fairly high day rate, so at the more senior end. I like the idea of being somewhere hot, without taxes
I am trawling my contacts book and have a couple of ideas but wondered if anyone has some first hand experience they'd like to share.
TIA
I'm very thankful of the UK government for ruining contracting by the cheeky device we all love, IR35. My current client (bank) has given me the 'get out or PAYE' message, so I'm irked by that.
25 years in FS, 10 years as a contract Programme Director in Risk/Reg/Compliance etc. Most of my work in the UK but some in Europe, the US and Africa.
So heres the question - anyone know of any good, solid agents in UAE for Fin Servs work? I'm on a fairly high day rate, so at the more senior end. I like the idea of being somewhere hot, without taxes
I am trawling my contacts book and have a couple of ideas but wondered if anyone has some first hand experience they'd like to share.
TIA
Linked In, find a headhunter. Maybe start with Ken Okumura. He deals with lawyers, but he can likely connect you with someone who deals with your sector, as it is not a million miles away from his sector.
Contact directly large international law firms and IP firms and ask if they would like to set up a compliance advisory business on the side. The law firm that I am with has recently launched a compliance shop based in Guernsey.
Dubai is a terrible place, BTW. Most hot places where you can get well paid ex pat jobs are terrible places.
Contact directly large international law firms and IP firms and ask if they would like to set up a compliance advisory business on the side. The law firm that I am with has recently launched a compliance shop based in Guernsey.
Dubai is a terrible place, BTW. Most hot places where you can get well paid ex pat jobs are terrible places.
Edited by anonymous-user on Wednesday 20th November 12:42
Stick to yer basic units in large piles and all goes well. The worst nonsense that I experience (and I live in a World of nonsense) is Brexit-related. Johnson does a stupid and Brexit retreats, I get a pay cut. The opposition does a stupid and Brexit approaches, I get a pay rise. Personally, I prefer it when I get the pay cut, but it does make choosing the date in each month when I ship the loot home a bit of a guessing game.
The rain making is going OK, by the way. Yesterday we hit the Legal 500 for the first time, and also were nominated for an award by the on island State-backed marketing outfit. My tropical weight black tie rig gets an outing at the awards dinner next week. I expect we shall lose, but it is good to be in the running.
The rain making is going OK, by the way. Yesterday we hit the Legal 500 for the first time, and also were nominated for an award by the on island State-backed marketing outfit. My tropical weight black tie rig gets an outing at the awards dinner next week. I expect we shall lose, but it is good to be in the running.
Edited by anonymous-user on Wednesday 20th November 14:26
Therefore look at Cayman, BVI, Bermuda, or look further east than UAE. Also, the Channel Islands generally have better weather than the UK, and the quality of life is good. 20% tax means that infrastructure is OK. Places with zero tax or 10% tax are, unless rich through some means other than financial services and tourism, terrible dumps. Gulf places have no tax but are too hot and, more importantly, are medieval tyrannies where women and gay people have no rights. Singapore is another place that pretends to be modern and free but is a despotism. Hong Kong is fabulous, but is on fire.
Subject to fog (the runways have no ILS), the Channel Islands are a short flight from Gatwick. You can knock off work in time to get to an opera in London on Friday evening. They can be foggy and damp in winter.
Subject to fog (the runways have no ILS), the Channel Islands are a short flight from Gatwick. You can knock off work in time to get to an opera in London on Friday evening. They can be foggy and damp in winter.
Please and thank you never go amiss.
Also, you cannot dictate what people say on this or any thread. There is a legitimate argument that the contractor system has been used for too long as a tax dodge. I am currently working in a low tax country (10%), but am still paying some UK tax, and will pay more UK tax if I go back to the UK, which I plan to do quite soon.
I think that those of us who have the potential to earn well have to shoulder the burden and pay our whack. Other opinions are available.
I wish that the Hedgies and Private Equity types would join in with those of us in the middle brackets and do more to help carry the burden. As for the newspaper and tech media owners, and others who pay almost zip on the megabucks, I had better not say what I think of them, as it would be too sweary.
Also, you cannot dictate what people say on this or any thread. There is a legitimate argument that the contractor system has been used for too long as a tax dodge. I am currently working in a low tax country (10%), but am still paying some UK tax, and will pay more UK tax if I go back to the UK, which I plan to do quite soon.
I think that those of us who have the potential to earn well have to shoulder the burden and pay our whack. Other opinions are available.
I wish that the Hedgies and Private Equity types would join in with those of us in the middle brackets and do more to help carry the burden. As for the newspaper and tech media owners, and others who pay almost zip on the megabucks, I had better not say what I think of them, as it would be too sweary.
The Moose said:
bqf said:
The US? Contracting jobs? in FS? Say more?
and also, keep your PAYE comments to yourself
Really?and also, keep your PAYE comments to yourself
How to win friends and influence people...
anonymous said:
[redacted]
The PAYE deal for contractors is punitive in my opinion. There is nothing reasonable or fair about a tax system that imposes 65% + marginal effective rates of tax which acts as a disincentive to maximise one’s income.I don’t care what permies pay “for similar roles” - they do so in return for employment rights and assurances I have no interest in receiving.
I wish the OP luck and hope many more make similar arrangements. I will certainly endeavour to remain in exclusively outside IR35 contracts or will work offshore - I’ve done the sums on PAYE and have no intention of complying.
theboss said:
The PAYE deal for contractors is punitive in my opinion. There is nothing reasonable or fair about a tax system that imposes 65% + marginal effective rates of tax which acts as a disincentive to maximise one’s income.
I don’t care what permies pay “for similar roles” - they do so in return for employment rights and assurances I have no interest in receiving.
I wish the OP luck and hope many more make similar arrangements. I will certainly endeavour to remain in exclusively outside IR35 contracts or will work offshore - I’ve done the sums on PAYE and have no intention of complying.
Good for you.... but please share us the tears about the unfairness of it all for contractors... up sticks & leave it's always better out here away from HMRC. I don’t care what permies pay “for similar roles” - they do so in return for employment rights and assurances I have no interest in receiving.
I wish the OP luck and hope many more make similar arrangements. I will certainly endeavour to remain in exclusively outside IR35 contracts or will work offshore - I’ve done the sums on PAYE and have no intention of complying.
GT03ROB said:
The Moose said:
bqf said:
The US? Contracting jobs? in FS? Say more?
and also, keep your PAYE comments to yourself
Really?and also, keep your PAYE comments to yourself
How to win friends and influence people...
Risk vs reward. I don't moan about not having sick pay. Don't moan I should go PAYE.
bqf said:
GT03ROB said:
The Moose said:
bqf said:
The US? Contracting jobs? in FS? Say more?
and also, keep your PAYE comments to yourself
Really?and also, keep your PAYE comments to yourself
How to win friends and influence people...
Risk vs reward. I don't moan about not having sick pay. Don't moan I should go PAYE.
I don't care about you being PAYE either as I've not paid any for 6yrs.
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