Send money from UAE to UK
How to Transfer Money from UAE to UK
Summary
The Emirati Dirham can be converted to UK Pounds and there are not any money transfer restrictions when sending money from Dubai to the UK. Dubai has become a very popular UK expat work destination given the size of the financial services sector which has attracted skilled immigration. Money flows from Dubai are predominantly composed of repatriated salary, but some money transfers flow the other way given the Emirate’s appeal as an investment holiday destination.
Top 3 Money Transfer Providers
Latest prices for transferring money from UAE to UK
Exchange Rates as of 7 May 2021, 01:52
Dubai’s links to the UK
Attracted by high salaries and low taxes, many UK professionals have chosen to move to Dubai and the United Arab Emirates of which Dubai is one. In 2012, there were some 65,000 British nationals working in the UAE according to a study by the UK’s Department of Work and Pensions, and the Institute of Public Policy Research. Emirates, the flagship airline of Dubai has large numbers of flights between the UK and Dubai. Emirate Airlines is also a very prominent sponsor of sports as part of its efforts to promote Dubai.
Visas and work permits
A UK citizen planning to work in Dubai will require both a residence visa and ‘labour card.’ A medical examination will be required as part of the process. Residence visas are typically issued first and then follows the labour card which can also be used an identity card.
Although easy to renew, Residence visas are only valid for three years. New residents are advised to stay in Dubai and the wider Emirates for the first six months from moving there. There are no retirement visas in the UAE, so the limited number of British retirees there will likely have a family connection.
Buying property in Dubai
Only people who are a national of the UAE or other Gulf Cooperation Council (GCC) states are allowed to purchase freehold property in Dubai. UK nationals are only allowed to buy property in certain specified locations. With most expats renting, it is important to be aware that tenants must pay to the municipality an annual housing fee equivalent to 5% of the rent.
The Dubai property market has rebounded since its crash several years ago. According to Knight Frank, the international property company, Brits spent AED4.5bn on property in Dubai the first half of 2014. Between 2013 and 2014 Dubai rose from the 35th to 16th most expensive city in the world to rent in for expatriates.
Frequently Asked Questions
Are the money transfer companies shown above safe to use?
Yes, all the companies are safe and fully-regulated money transfer services.
Each are authorised and regulated by the relevant authority such as the Financial
Conduct Authority(FCA) in the UK, FinCEN in the US, FinTRAC in Canada or ASIC in Australia.
How long does an international money transfer take?
The speed of delivery will depend on where the money is being from and to and how
you are sending and receiving the money. Transfers sent using bank to bank transfers
can depend take anywhere from minutes to days and you should check the time estimates
from the relevant provider. Debit and credit card payments sometimes allow for faster
transfers for smaller amounts.
How do I use FXcompared?
First review the comparison results (such as for a table above) for a given amount
of money sending from UAE to UK. Then select a provider based on
factors such as price, speed, their rating and click the green button to be taken to
their website. From there, you can register and sign up for an account. Once you have
done that and the provider has verified your identity to ensure the money can be send
safely, you will be ready to transfer money.
What payments methods can I use to send money overseas?
The results shown above are typically for bank to bank transfers. It is possible
via some providers to pay in your funds for the transfer via cash, debit or credit
cards as well but this is usually reserved for smaller amounts. Some providers also
give you different options for how the money will be received - to a bank account
(most common), to a debit card, to cash or to a digital or mobile wallet.
What if the price shown above isn’t exactly what I am offered when I try to transfer money?
There can be a number of reasons why the final price you are offered may be different
to that shown in the table above. Exchange rates between two currencies change all
the time and is the most common reason. Additionally, some providers offer different
pricing depending what method you are using to send funds or how the funds will be
received. Others may offer you a premium service for faster payments. In some cases
FXcompared has a special rate with a provider and this is reserved for first time
customers who sign up to the provider starting from FXcompared’s website.
As prices do change often, be sure to confirm the total cost with the provider
before transferring money.
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