Why Indian Business & Sports Icons are Moving to Dubai?
In recent years, Dubai has emerged as the preferred destination for Indian business leaders and sports stars, seeking a better quality of life, business-friendly policies, and a tax-free environment. The United Arab Emirates (UAE) has become a haven for wealth, safety, and global opportunities, attracting a significant number of millionaires and billionaires from India.
According to a recent report, over 4,300 millionaires left India in 2024, and Dubai remains the top choice for many of them. The city’s Golden Visa, real estate boom, and exceptional security have made it an attractive destination for those seeking a luxurious lifestyle and business opportunities. In this blog post, we will explore the reasons behind the influx of Indian business leaders and sports stars to Dubai.
Zero Income Tax: A Major Attraction
One of the primary reasons why Indian business leaders and sports stars are moving to Dubai is the absence of income tax. The UAE does not impose income tax on individuals, providing a significant advantage over other countries with high tax rates. This has made Dubai an attractive destination for entrepreneurs, investors, and individuals seeking to minimize their tax liability.
For instance, Bollywood superstar Shah Rukh Khan, who owns the Indian Premier League (IPL) team Kolkata Knight Riders, has a significant business presence in Dubai. His company, Red Chillies Entertainment, has an office in the city, and he has also invested in several real estate projects. The zero-income tax policy has undoubtedly contributed to his decision to expand his business presence in Dubai.
Luxury Living
Dubai is renowned for its luxurious lifestyle, and Indian business leaders and sports stars are drawn to the city’s opulent living standards. From world-class hotels and restaurants to upscale shopping malls and residential complexes, Dubai offers a high-end lifestyle that is hard to match in India.
Many Indian celebrities, including actors, cricketers, and business leaders, have purchased luxurious homes in Dubai, which are often designed to international standards. The city’s real estate market has seen significant growth in recent years, with many Indian property developers investing in Dubai’s prime locations.
Business-Friendly Policies
Dubai is a business-friendly city, offering a range of incentives and benefits to entrepreneurs and investors. The city’s strategic location, modern infrastructure, and favorable business policies have made it an attractive destination for companies seeking to expand their operations.
The UAE has a number of free zones, which offer 100% foreign ownership, zero taxes, and simplified regulations. These free zones have attracted many Indian businesses, including IT and ITES companies, pharmaceutical companies, and manufacturing firms.
The Golden Visa
In 2019, the UAE introduced the Golden Visa, a 10-year residence visa program designed to attract international talent and investors. The Golden Visa offers a range of benefits, including permanent residency, no restrictions on employment, and the ability to sponsor family members.
The Golden Visa has been a major draw for Indian business leaders and sports stars, who are seeking a long-term residence in Dubai. Many have applied for the visa, which has enabled them to live and work in the city without any restrictions.
Real Estate Boom
Dubai’s real estate market has seen significant growth in recent years, driven by the city’s strong economic fundamentals and infrastructure development. The market has attracted many Indian property developers, who have invested in luxury apartments, villas, and commercial properties.
The city’s real estate boom has also led to an increase in demand for luxury properties, which has driven up prices. Many Indian celebrities and business leaders have purchased luxury properties in Dubai, which are often designed to international standards.
Security
Security is a major concern for many Indian business leaders and sports stars, who are seeking a safe and secure environment for their families. Dubai is renowned for its exceptional security, with a low crime rate and a strong police presence.
The city’s security measures include advanced surveillance systems, rapid response teams, and a well-trained police force. This has made Dubai an attractive destination for Indian families, who are seeking a safe and secure lifestyle.
Conclusion
In conclusion, Dubai’s zero-income tax policy, luxurious living standards, business-friendly policies, Golden Visa, real estate boom, and exceptional security have made it an attractive destination for Indian business leaders and sports stars. The city’s strategic location, modern infrastructure, and favorable business policies have enabled Indian companies to expand their operations and capitalize on global opportunities.
As the world becomes increasingly interconnected, Dubai’s position as a global business hub and financial center is set to continue. With its unique blend of traditional Arab hospitality and modern amenities, Dubai is poised to remain a top destination for Indian business leaders and sports stars seeking a better quality of life and business opportunities.
Source: https://ascendants.in/business-stories/why-indian-business-leaders-sports-stars-moving-to-dubai/
