Why Indian Business & Sports Icons are Moving to Dubai?
In recent years, Dubai has emerged as a magnet for Indian business leaders and sports stars, drawn by its unique blend of luxurious living, business-friendly policies, and unparalleled security. The city’s Golden Visa program, booming real estate market, and zero-income tax regime have made it an attractive haven for high-net-worth individuals seeking a better life.
According to a report by Hurun Research Institute, over 4,300 millionaires left India in 2024, highlighting the exodus of wealthy individuals seeking greener pastures. Dubai, with its reputation for safety, luxury, and global opportunities, has emerged as the preferred destination for many of them.
In this blog post, we’ll delve into the reasons behind the increasing trend of Indian business leaders and sports icons relocating to Dubai, and what makes the city such an attractive proposition.
Zero Income Tax: A Major Draw
One of the primary reasons behind the exodus of Indian high-net-worth individuals is the country’s high tax burden. India has a complex tax system, with multiple taxes levied at various levels. The country’s highest tax bracket, for instance, stands at 42.7%, making it unattractive for many wealthy individuals.
In contrast, Dubai offers a zero-income tax regime, making it an attractive proposition for business leaders and sports stars looking to minimize their tax liabilities. The UAE has a flat tax rate of 0-5% on personal income, depending on the individual’s income level.
Luxury Living: A Lifestyle Upgrade
Dubai is renowned for its luxurious lifestyle, with world-class amenities and infrastructure. The city offers a range of high-end properties, from sleek apartments to opulent villas, making it an attractive destination for those seeking a luxurious lifestyle.
From top-notch restaurants and bars to high-end shopping malls and entertainment complexes, Dubai has everything that a high-net-worth individual could ask for. The city’s vibrant cultural scene, with its blend of traditional and modern attractions, also makes it an attractive destination for those seeking a unique lifestyle experience.
Business-Friendly Policies: A Haven for Entrepreneurs
Dubai has emerged as a hub for entrepreneurs and small business owners, thanks to its business-friendly policies. The city offers a range of incentives and benefits, including:
- 100% foreign ownership: In Dubai, foreign investors can own 100% of their business, making it an attractive destination for international entrepreneurs.
- Zero customs duty: Dubai offers zero customs duty on imports, making it an attractive destination for businesses looking to import goods.
- Simplified regulatory framework: Dubai has a streamlined regulatory framework, making it easier for businesses to set up and operate in the city.
The Golden Visa: A Pathway to Residency
In 2019, the UAE introduced the Golden Visa program, aimed at attracting high-skilled professionals and investors to the country. The program offers a range of benefits, including:
- 10-year residency visa: The Golden Visa offers a 10-year residency visa, making it an attractive proposition for those seeking long-term residency in the UAE.
- No restrictions on profession: The program has no restrictions on profession, making it an attractive proposition for entrepreneurs, investors, and professionals alike.
- Family visa: The Golden Visa also offers a family visa, allowing the applicant’s spouse and children to accompany them to the UAE.
Real Estate Boom: A Lucrative Investment Opportunity
Dubai’s real estate market has experienced a boom in recent years, driven by its growing popularity as a tourist destination and its reputation for luxury living. The city’s real estate market offers a range of investment opportunities, including:
- Luxury apartments: Dubai’s luxury apartments, with their breathtaking views of the city skyline, are a popular investment opportunity for high-net-worth individuals.
- Off-plan properties: The city’s off-plan properties, with their guaranteed returns and flexible payment plans, are an attractive investment opportunity for those seeking a steady income stream.
- Commercial properties: Dubai’s commercial properties, with their high demand and limited supply, are a lucrative investment opportunity for entrepreneurs and small business owners.
Security: A Major Concern
Security is a major concern for many high-net-worth individuals, and Dubai offers a safe and secure environment. The city has a low crime rate, making it an attractive destination for those seeking a secure lifestyle.
From its state-of-the-art infrastructure to its robust security measures, Dubai offers a safe and secure environment for its residents. The city’s police force is highly trained and equipped, making it an attractive destination for those seeking a secure lifestyle.
Conclusion
In conclusion, Dubai’s unique blend of luxurious living, business-friendly policies, and unparalleled security has made it an attractive destination for Indian business leaders and sports icons. With its zero-income tax regime, luxury lifestyle, and business-friendly policies, Dubai offers a unique proposition for high-net-worth individuals seeking a better life.
Whether you’re an entrepreneur, investor, or professional, Dubai has something to offer. From its booming real estate market to its Golden Visa program, Dubai is an attractive destination for those seeking a better life.
Source:
https://ascendants.in/business-stories/why-indian-business-leaders-sports-stars-moving-to-dubai/
