Why Indian Business & Sports Icons are Moving to Dubai?
Dubai, a city known for its opulence, grandeur, and business-friendly environment, has become the go-to destination for Indian business leaders and sports stars. The reasons are many, but the most prominent ones are zero income tax, luxury living, and business-friendly policies. The UAE’s Golden Visa, real estate boom, and security make it a top choice for those seeking a haven for their wealth, safety, and global opportunities.
In 2024, over 4,300 millionaires left India, with many of them choosing Dubai as their new home. This exodus is not limited to just entrepreneurs and business tycoons; even sports stars are making the move to Dubai. So, what’s driving this trend? Let’s dive into the reasons behind this mass migration.
Zero Income Tax: A Major Draw
One of the primary reasons Indian business leaders and sports stars are flocking to Dubai is the absence of income tax. The UAE does not impose income tax on individuals, making it an attractive destination for those looking to grow their wealth. In India, on the other hand, income tax rates range from 5% to 30%, depending on the individual’s income level. This significant difference in tax rates makes Dubai an attractive option for those seeking to minimize their tax liability.
Luxury Living: The UAE’s Unparalleled Lifestyle
Dubai is renowned for its world-class infrastructure, state-of-the-art amenities, and luxury lifestyle. The city offers a range of high-end residential properties, from sleek skyscrapers to luxurious villas, catering to the needs of the elite. The cosmopolitan city is also home to top-notch restaurants, shopping malls, and entertainment options, making it an ideal destination for those seeking a luxurious lifestyle.
Business-Friendly Policies: A Haven for Entrepreneurs
Dubai is a business-friendly city, with policies designed to attract entrepreneurs and investors. The city offers a range of incentives, including 100% foreign ownership, no restrictions on business activities, and a streamlined regulatory environment. This makes it an attractive destination for entrepreneurs looking to set up shop and grow their business.
Golden Visa: A Pathway to Permanent Residency
The UAE’s Golden Visa program offers a unique opportunity for Indian business leaders and sports stars to secure permanent residency in Dubai. The program is designed to attract high-net-worth individuals and offers a range of benefits, including a 10-year visa, the ability to sponsor family members, and access to a range of business and investment opportunities.
Real Estate Boom: A Safe and Secure Investment
Dubai’s real estate market has been experiencing a boom in recent years, with property prices soaring and investments yielding high returns. The city is home to a range of high-end developments, including luxury apartments, villas, and commercial properties, making it an attractive destination for those seeking to invest in real estate.
Security: A Top Priority
Dubai is known for its exceptional security record, making it a top priority for Indian business leaders and sports stars seeking a safe and secure environment. The city has a low crime rate, with a highly effective police force and a range of security measures in place to ensure the safety of its residents and visitors.
Sports Stars Flocking to Dubai
Dubai’s lure is not limited to just business leaders; even sports stars are making the move to the city. Cricketing legend Yuvraj Singh, tennis star Sania Mirza, and former Indian cricket captain Sourav Ganguly are just a few examples of sports personalities who have chosen Dubai as their new home.
In conclusion, Dubai’s unique combination of zero income tax, luxury living, business-friendly policies, Golden Visa, real estate boom, and security has made it an attractive destination for Indian business leaders and sports stars. As the city continues to grow and evolve, it’s likely that we’ll see even more of these high-achievers making the move to Dubai.
Source: https://ascendants.in/business-stories/why-indian-business-leaders-sports-stars-moving-to-dubai/
