A Detailed Guide on How to Make Passive Income in Dubai
Everyone would love to make some extra money on the side, other than from their main hustle. But how exactly can you make passive income, and what do you need? Read on to learn about passive income in Dubai .
What Is Passive Income?
Although the name might suggest some negativity, it’s a good passivity; as it means earning for a little effort. Whereas a full-time job requires 8 hours per day of work, part-time approximately 3-4 hours or specific days per week, passive income does not require
a time-out but a self-employed source of profit.
So, we can define passive income as: “The gain that a person earns without a continuous consideration, and this can be represented by buying a property and renting it”. Buying the property for a fee, when it’s rented the property owner will earn a profit, which is the rental value, without providing a consideration for each rental period.
6 Ways To Make Passive Income in Dubai in 2022
Many people are curious about learning how to make passive income in Dubai . After all, we’d all love to make money while we sleep. And as Warren Buffet puts it, “If you don’t find a way to make money while you sleep, you will work until you die.” But if you do a simple Google search and look up “how to make passive income,” you’ll be overwhelmed by the many results, with many sites and influencers guiding you on making passive income. But the reality is that few influencers are straightforward about the work needed to get there. While some passive income ideas require less of your time and effort, most will need some level of effort and commitment at least before they pick up. But that shouldn’t scare you. It’s all the more reason for you to invest in a side hustle.
Thanks to Covid-19, many people know not to rely on one source of income. People in Dubai, for example, were affected by the pandemic, especially because the country is a tourist destination. The pandemic put restrictions on travel, which meant that incomes reduced drastically, and some lost their jobs. So, you have to think outside the box and create diversified cash-flow streams, to ensure that you don’t rely on one source of income and are financially free.
If you’re looking to make passive income in the UAE , you’re in luck. The city offers many options to invest in while offering exposure to various resources that help build your passive income portfolio. Here are six passive income ideas you can try in Dubai.
Passive Income Idea 1:Investing in the International Stock Exchange
Investing in the stock exchange is a traditional way to make passive income in the UAE . However, trading stocks and bonds on international markets needs knowledge to evaluate risk accurately. But once you get the hang of it, it can be a substantial way to make money on the side. However, the reality is that it takes time to assess the market and figure out how to invest wisely. So, if you haven’t traded stocks before, it’s advisable that you binge on courses, read books, and watch YouTube videos on stock trading before you place money on it..
Passive Income Idea 2: Invest In A Rental Property
Investing in real estate in Dubai (add link here) to earn you rental income is another way to earn extra income in Dubai. Long-term rentals can offer a reliable source of income as long as the market is healthy for renters. You can earn rental income through rental housing and rental vacation spots for international tourists through sites like Airbnb. Also, reducing property values makes this investment ideal because it has pushed up rental profits in the country. However, investing in real estate is capital intensive, meaning it’s not viable for everyone.
Passive Income Idea 3:Real Estate Crowdfunding in Dubai
Are you interested in earning rental income from real estate in Dubai , but you’re on a budget and aren’t interested in the hassle of managing the property? Real estate crowdfunding could be the answer. Crowdfunding involves raising money from a pool of investors. Each contributes a specific amount, and then the company pools that money to purchase properties, rent them out, and divide the rental income among the investors. Many legit platforms are offering real estate crowdfunding, including Maisour. The company usually lists available properties available on their site for people to invest in. You can start with as little as AED 500 and earn passive income once the property is rented. But how exactly does real estate crowdfunding work? (Link here) Check out Maisour (link here) for more.
Passive Income Idea 4: Sell Online Courses
You can create courses on a topic that you’re good at, upload them to the internet, promote it and sell it. Maybe you’re a fitness enthusiast, financial advisor, or master chef. You can create courses to share your expertise and teach people how to do so. The course can be shared via eBooks or uploaded via sites like Udemy. However, creating a course is time- and marketing-intensive. But once you’ve gotten through this bit, you’ll make passive income continuously.
Passive Income Idea 5: Start A YouTube Channel
Another massively-growing source of passive income in Dubai is creating a YouTube channel. If you’re passionate about, let’s say, travel and aren’t camera shy, YouTube could be good for you. For example, if you travel to a place like Dubai, you could create a vlog, “What to Do in Dubai” (link), to show your audience what they can do if they travel to Dubai. With channels such as make-up application or showcasing lifestyle, YouTubers in Dubai make a lot of money. However, you’ll have to be consistent with your channel to garner enough content and followers.
Passive Income Idea 6: National Bonds In Dubai
National bonds in the UAE offer several decent and risk-free products. You can visit the Dubai National Bonds website and see their options, such as capital-guaranteed offerings that generate passive income . With as little as AED 100, you can purchase a bond.
Key Highlights
Earning passive income in Dubai isn’t easy but it’s possible. You’ll have to put in the time and work, but it’ll pay off in the end. Here’s a round-up of the 6 passive idea incomes you can try in Dubai:
- Investing in the international stock exchange
- Invest in a rental property
- Real estate crowdfunding in Dubai
- Sell online courses
- Start a YouTube channel
- National bonds in Dubai
Do you wish to earn passive income through crowdfunding in the Dubai property market? Maisour, an online crowdfunding platform, can help you achieve your financial goals. Find out more in MAISOUR
