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, lured by its zero-income tax, luxurious living, and business-friendly policies. The UAE’s Golden Visa, real estate boom, and unparalleled security have cemented Dubai’s position as the go-to destination for those seeking a haven for their wealth, safety, and global opportunities. With over 4,300 millionaires leaving India in 2024 alone, Dubai remains the top choice for those looking to relocate.
Zero-Income Tax: A Major Draw
One of the primary reasons Indian business leaders and sports icons are flocking to Dubai is the absence of income tax. In India, the income tax slab ranges from 5% to 42.7%, making it a significant burden for high-net-worth individuals. Dubai, on the other hand, does not have an income tax, allowing individuals to retain a larger portion of their earnings. This has been a major draw for Indian business leaders and sports stars, who can now enjoy a higher disposable income and reinvest their wealth in various ventures.
Luxury Living: A Lifestyle Upgrade
Dubai is renowned for its opulence and extravagance, offering its residents a luxurious lifestyle unmatched by most cities in the world. From designer boutiques to world-class restaurants, and from lavish villas to high-end apartments, Dubai has something for everyone. Indian business leaders and sports icons are attracted to Dubai’s luxurious lifestyle, which provides them with a sense of prestige and exclusivity. They can now live in style, surrounded by the finest amenities and services, and enjoy a quality of life that was previously unattainable in India.
Business-Friendly Policies: A Catalyst for Growth
Dubai’s business-friendly policies have been a significant factor in attracting Indian business leaders and sports icons. The UAE’s business ecosystem is designed to facilitate entrepreneurship and innovation, with a low corporate tax rate and minimal regulatory hurdles. This has made it an attractive destination for entrepreneurs and start-ups, who can now establish themselves quickly and efficiently. Indian business leaders and sports icons are drawn to Dubai’s business-friendly environment, which provides them with the perfect platform to expand their business interests and build a global presence.
The Golden Visa: A Path to Permanent Residency
The UAE’s Golden Visa program has been a game-changer for Indian business leaders and sports icons. Launched in 2019, the Golden Visa provides eligible individuals with a 10-year residency visa, allowing them to live and work in the UAE without the need for a sponsor. This has been a major draw for Indian business leaders and sports icons, who can now establish themselves in Dubai and enjoy a sense of permanence and security. The Golden Visa has also made it easier for Indian businesses to set up shop in Dubai, with many entrepreneurs and investors taking advantage of the program to establish a foothold in the region.
Real Estate Boom: A Lucrative Investment Opportunity
Dubai’s real estate market has been booming in recent years, with property prices rising significantly. Indian business leaders and sports icons are attracted to Dubai’s real estate market, which offers them a lucrative investment opportunity. They can now purchase luxury properties, invest in commercial spaces, or develop their own projects, taking advantage of the city’s rapid growth and increasing demand for housing and commercial space.
Security: A Key Concern for High-Net-Worth Individuals
Security is a major concern for high-net-worth individuals, and Dubai’s reputation for being one of the safest cities in the world has been a significant draw for Indian business leaders and sports icons. With a low crime rate and a robust law enforcement system, Dubai provides its residents with a sense of security and peace of mind. This is particularly important for Indian business leaders and sports icons, who often have significant assets and liabilities to protect.
Conclusion
In conclusion, Indian business leaders and sports icons are moving to Dubai due to a combination of factors, including zero-income tax, luxurious living, business-friendly policies, the Golden Visa, real estate boom, and security. With over 4,300 millionaires leaving India in 2024 alone, Dubai remains the preferred haven for wealth, safety, and global opportunities. As the city continues to evolve and grow, it is likely that more Indian business leaders and sports icons will follow suit, drawn by the promise of a better life and a brighter future.
Source:
https://ascendants.in/business-stories/why-indian-business-leaders-sports-stars-moving-to-dubai/
