I've lived in Dubai and started 2 companies in Singapore. Here's how the cities compare on luxury lifestyle, business, and vibe.

• Alessandro Palombo has lived in Dubai and launched two businesses in Singapore.

• He said people in Dubai often display their wealth, while Singapore has billionaires in flip-flops.

• The lifestyle in Dubai can be transient. Meanwhile, Singapore can feel small, he said.

This as-told-to essay is based on a transcribed conversation with Alessandro Palombo, 36, an entrepreneur based in Lisbon, about doing business in Dubai and Singapore. The following has been edited for length and clarity.

I lived in Dubai for about four years, and I have two businesses in Singapore.

I started my career in the legal field but pivoted into startups. I live in Lisbon now and focus on running a fund advisor for a Golden Visa fund helping non-Europeans gain residency and citizenship in Portugal.

I moved to Dubai in 2019. I used the city as my headquarters and often traveled from there for work and my startups. I had team members in Asia, so there was good connectivity from Dubai to them. I also frequently visited Singapore for business trips.

I launched two businesses, including a fund advisor, last year in Singapore. I travel frequently to manage both companies and plan to spend at least one-quarter of my time there moving forward.

Here's a comparison of what I think of Dubai and Singapore. Overall, I think they're both great places for doing business. Dubai is better suited for doing business with Europe or the US, and Singapore is a great place if you're doing business in Asia.

Displays of luxury are more understated in Singapore than in Dubai

People in Dubai often display their wealth, while in Singapore, there were billionaires in flip-flops — it's more understated.

In Dubai, you can get lost among hundreds of luxury shops at the Dubai Mall. It shows you the best of every luxury brand in one place.

While luxury is embedded into a vacation in Dubai, it isn't at the center of your experience when you live there. When visiting for a week, you're typically taken to high-end attractions and restaurants, but living in Dubai reveals its more grounded side. You can dine in authentic Lebanese restaurants for 25 euros a head, about the same in US dollars.

Meanwhile, in Singapore, I've personally met more wealthy and powerful people than I did in Dubai. This could be due to coincidences around my network, but I have a feeling it attracts more people who have already made it as opposed to people who are trying to make it. I've met several wealthy people who were dressed in ordinary clothes but had significant assets, including luxury cars.

In Dubai, business meetings often happen in lavish offices, but in Singapore, I've seen more personal touches, like a CEO's private room with an extraordinary cigar collection and premium liquor — items that reflect wealth but aren't immediately visible.

Consider where your clients are based when deciding which city is best for your business

I think both locations are great for digital nomads and entrepreneurs.

In Dubai, the killer value proposition is 0% personal-income tax. It's one of the very rare places in the world where your earnings, capital gains, and dividends are not taxed. It's a major advantage for people who have wealth to preserve and for digital nomads. However, there is a 5% value-added tax.

If you're doing business with Europe or the US, Dubai would be a better fit because of the time zone.

Meanwhile, Singapore offers an unmatched ease of doing business in Asia without the language barriers present in countries like China, where Mandarin is essential. However, if you have clients in Europe, the time difference can make things difficult.

In Singapore, the personal-income tax is reasonable, and there are thoughtful tax exemptions for startups. Plus, there's no capital-gains tax or foreign-source income tax. Singapore is such an efficient city. Compared with Dubai, it's faster to open a bank account. The tax guidelines are clear, and they enable you to do business easily.

That said, there are challenges around entrepreneurship in both locations. In Dubai, pathways for securing a visa can involve establishing a company or obtaining a freelance license. While feasible, it's more complex than it appears, and it's often useful to get assistance from trusted local partners. In Singapore, incorporation is straightforward, but obtaining the required Employment Pass involves additional steps.

There are some downsides to life in both cities

In Dubai, I think the lifestyle can be quite transient. There's a large expat population, and since many people see their time there as temporary, it can limit deep connections.

I'd avoid the hottest summer months in Dubai. If you open your door in July, it's like a huge hair dryer blowing hot air on you. Meanwhile, in Singapore, it's hot and humid all year round. In both places, expect to be spending a lot of time in buildings with air conditioning.

Both cities can be expensive, but I think Singapore is more expensive, particularly the cost of cars and real estate.

Singapore is also a very small city. In Lisbon, I can drive to many beautiful places in my car, such as beaches and hiking spaces, but in Singapore, you don't have to drive for long before you've left Singapore and are entering Malaysia. In the medium to long term, you may feel the smallness of the space. I haven't lived in Singapore, but when I visit, I often end up on the same four or five streets.

Overall, Singapore and Dubai are great examples of international hubs, and I really like both cities.

Do you want to share a review of cities you've lived in for work and business purposes? Email ccheong@businessinsider.com.

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