Why Indian Business & Sports Icons are Moving to Dubai?
In recent years, a significant number of Indian business leaders and sports stars have made the bold decision to relocate to Dubai, United Arab Emirates (UAE). The reasons behind this trend are multifaceted and driven by a combination of factors that make Dubai an attractive destination for those seeking a better quality of life, business opportunities, and a secure future.
One of the primary reasons Indian business leaders are flocking to Dubai is the absence of income tax in the UAE. With no personal income tax, individuals can keep their hard-earned money without having to share it with the government. This is a significant draw for entrepreneurs and business owners who have built their fortunes in India, where the income tax regime is notoriously complex and burdensome.
Another key factor is the UAE’s business-friendly policies, which have made it an attractive destination for entrepreneurs and investors. The country has implemented a range of initiatives to encourage foreign investment, including the Dubai Startup Hub, which provides access to funding, mentorship, and networking opportunities. The UAE’s ease of doing business ranking has also improved significantly in recent years, making it an attractive destination for businesses looking to set up shop.
Dubai’s luxury living experience is another significant draw for Indian business leaders. The city offers a high standard of living, with world-class amenities, infrastructure, and services. From opulent villas to upscale apartments, Dubai has a range of residential options to suit every taste and budget. The city’s vibrant cultural scene, with its diverse range of restaurants, cafes, and entertainment options, also makes it an attractive destination for those seeking a high quality of life.
The UAE’s Golden Visa program is another key factor in the trend of Indian business leaders relocating to Dubai. The Golden Visa is a special residency visa that allows foreign nationals to live, work, and invest in the UAE without the need for a local sponsor. The visa is valid for 5-10 years and can be renewed indefinitely, making it an attractive option for those seeking a permanent home in the UAE.
Real estate is another significant factor driving the trend of Indian business leaders moving to Dubai. The UAE’s real estate market has experienced a significant boom in recent years, driven by government initiatives and investment in key sectors such as tourism and infrastructure. Dubai’s property market is particularly popular among Indian business leaders, with a range of options available from affordable apartments to luxury villas.
Security is another key factor in the decision of Indian business leaders to relocate to Dubai. The UAE is known for its low crime rate and high level of security, making it an attractive destination for those seeking a safe and secure environment to live and work. The country’s strict laws and regulations also provide a sense of stability and predictability, making it an attractive destination for businesses and individuals alike.
In addition to these factors, Dubai’s strategic location and connectivity make it an attractive destination for Indian business leaders. The city is a major hub for international trade and commerce, with access to key markets in Asia, Europe, and the Middle East. Dubai’s airports and seaports are also world-class, providing easy access to global markets.
The trend of Indian business leaders relocating to Dubai is not limited to entrepreneurs and business owners alone. Sports stars are also making the move, attracted by the city’s luxurious lifestyle, world-class facilities, and business opportunities. Many Indian cricketers, in particular, have made the move to Dubai, drawn by the city’s high standard of living and the opportunities it offers to pursue their passion for the game.
According to a report by the Reserve Bank of India (RBI), over 4,300 millionaires left India in 2024, with many of them making the move to Dubai. This trend is expected to continue in the coming years, driven by the city’s attractive business environment, luxury living experience, and strategic location.
In conclusion, the trend of Indian business leaders and sports stars moving to Dubai is driven by a combination of factors, including the absence of income tax, business-friendly policies, luxury living experience, and security. The UAE’s Golden Visa program, real estate boom, and strategic location also make it an attractive destination for those seeking a better quality of life and business opportunities. As the trend continues to grow, Dubai is likely to remain a top choice for Indian business leaders and sports stars seeking to make the most of their hard-earned wealth and pursue their passions.
Source:
https://ascendants.in/business-stories/why-indian-business-leaders-sports-stars-moving-to-dubai/
