Where to invest money in Dubai

Financial planning is a problem that most people face. With

growing income, many people will have extra cash with them in a

tax free land such as Dubai.

Although, there are expenses to be taken care of, it is important

that you invest your extra money, so that your future is secured. If

you are wondering about where to invest money in Dubai, keep

reading on.

In a financially robust economy such as Dubai, you will come

across a number of banking products that will help you secure your

money and promise you of assured returns.

However, being cautious and prudent is a prerequisite, if you want to invest your money wisely. Here are a few options that you could consider to invest your money in:

1. National Bonds: This is a savings scheme which was introduced in 1996 to help both Emiratis and ex-pats to save their hard earned money. This scheme follows the rules of the Sharia.

2. You can dig out a list of Islamic banks in UAE, to avail of national bonds. You will have to buy bonds worth AED 100 and these will give you yearly returns. You can redeem your bonds at any point of time.

3. Hire a financial advisor: Hiring a financial advisor will simplify the world of investments for you.

4. You will have more access to information from the investment market and with the able guidance of a trusted financial advisor; you can make wise investments that will pay you off for a long time.

5. Stocks and shares: Ex-pats can invest in a variety of

sectors in Dubai. You will need the help of a broker or a

bank to make this kind of investment. The sectors that you

can invest in range from banking to real estate.

6. Banks savings plans: The UAE has about 50 banks which

offer a wide range of banking products that can make

saving money an easier task.

However, if you are wondering on how to open a bank account in Dubai, here’s how:

If you are an ex-pat and still not sure how to go about

opening a bank account in Dubai, here’s how. The

procedure is quite simple and all you will need is a few

documents and a photograph.

You will need to submit a copy of your passport, a

copy of your bank statement from the country of your

residence

A no objection certificate from your previous employer