There are many ways of earning passive income in Dubai this year 2023. Passive income helps one to make money while asleep. Majority of the rich people in Dubai make money through passive income some making over AED 10,000 per month. If you wish to make money while asleep in Dubai, here are the many ways of making it possible:
- Start a YouTube channel
YouTube is the perfect platform to generate passive income from. In Dubai, YouTube pays a lot, you will be earning more than AED 50,000 from 1 million views. To start a YouTube channel is free and earnings will be achieved through AdSense and sponsored content.
To start making money through YouTube in Dubai, your channel must be at least 12 months old, it must have 1000 subscribers and over 4000 wachtime hours
It takes 1-3 years to break even as a YouTuber in Dubai.
You can also create a blog, post content and start making money while asleep. Bloggers earn money through AdSense, AdSense alternatives, affiliate marketing, sponsored posts and banner ads.
To start a blog in Dubai, you need a capital of AED 20 to AED 100.A domain name, hosting plan and WordPress template are the three basic things you need in order to start a blog.
Bloggers make AED 500 to AED 10,000 per month in Dubai.
- Affiliate marketing
There are a number of companies in Dubai offering affiliate marketing opportunities, they pay commissions to marketers. If you own a blog, use it to sign up to the available affiliate programs, place banners on the site or the links in your articles and get people to buy the products.
Affiliate marketing is rewarding when your blog is focusing on a specific niche and has good number of views.
Some of the affiliate programs pay up to 40% of the total sales made.
Most established bloggers prefer affiliate marketing to AdSense.
- Buy Unit Trusts
Purchase Unit Trusts from insurance companies and stock brokers, earn interest daily. Your only responsibility is to purchase the unit trusts, the company will invest the money and share the profits with you. The money will be working for you.
- Build rental property
Building rental property require heavy investment, but it’s one of the best way to earn passive income. The main challenge is to get capital and land to build the property, but in regard to capital, you’ll secure a cheap loan from a bank which you’ll pay from rental income.
If you want to build generational wealth, own rental property.
- Real estate crowd funding
Combine ideas and recourses with other investors and build real estate property. Raising capital on your own might be a thorn in your flesh but crowd finding will make it easier to raise the capital and build the property. You will be earning passive income afterwards.
- Invest in Shares
Buy shares from companies doing well in the stock market. You will be earning dividends annually.
Create a culture of buying shares regularly and within a decade, you’ll gain financial freedom.
- Save money in fixed deposit account
Saving money in current account is not a great idea because it doesn’t earn interest. You should identify banks with high interest rates and open a fixed deposit account, save the money and earn interest periodically.
Below are some of the banks with best Fixed Deposit interest rates in UAE:
|RAK Bank Fixed Deposit Plus||25,000 AED||0.86%|
|Standard Chartered Fixed Deposits||25,000||0.25%|
|Mashreq Bank Step Up Saver Account||10,000||1.75%|
|Mashreq Bank Mudaraba Term Investment||10,000||1.01% (Expected Profit Rate)|
- Buy National Bonds
The government provides opportunities to her citizens to buy bonds. Though this is a long term investment plan, the interest rates earned are decent. You will save AED 1000 and earn AED 1500 in 2 years.
- Sell online courses
Create courses and sell them online. You will be earning money while asleep. Alternatively, become an online tutor.
If you’re a blogger, write about how to make money online and package the content into a course. People will pay to access your course
- Write and sell-books
Amazon is one of the platforms to list your book and get paid once it’s purchased.
Writing books will help you make money even when you are old. As long as the book is online, people will buy it.