How Open is Dubai?

A few days Dubai, learns that the city is still buzzing. The tax environments are as open as possible: no personal income tax makes it a kind of Monaco, no corporate tax makes it a coporate tax haven, no VAT makes it like Andorra and other tax free shopping havens. Only import taxes are levied.

Although the real-estate bubble has burst, a 20 billion USD loan and public investment is injected into the economy of the Emirates. Will that be enough to prevent a serious down-turn? Probably not. But the Emirates are well-positioned to benefit any future upswing. Although the real-estate market will for a long time not be what it has been. Who wants to live permanently in a country where 6 months per year the temperature is above 40 degrees Celsius? Where sandstorms can pollute the air? And where public kissing is forbidden, and bearded man start shouting at you when you accidentally do.

From a tax point of view Dubai is a heaven. But, without real political freedom, no real equality between the sexes and only superficially religious freedom, it is definitely not a country for me.

Still, it is inspiring for projects like a Georgian iCity. And also from the perspective how open content projects can benefit from a free tax climate.