Why Indian Business & Sports Icons are Moving to Dubai?
In recent years, Dubai has emerged as a preferred destination for Indian business leaders and sports stars. The emirate’s unique combination of zero income tax, luxury living, and business-friendly policies has made it an attractive option for those seeking a better quality of life and new business opportunities. As more Indian millionaires and billionaires make the move, Dubai solidifies its position as a global hub for wealth, safety, and global connections.
In 2024, a staggering 4,300 millionaires left India, with many of them opting for Dubai as their new home. This trend is not surprising, given the UAE’s Golden Visa program, which offers residency and work permits to foreign nationals in exchange for investments in the country. The program has been instrumental in attracting international talent and entrepreneurs, including many Indians, to Dubai.
So, what draws Indian business leaders and sports stars to Dubai? Let’s take a closer look at the factors contributing to this exodus.
Zero Income Tax
One of the most significant attractions for Indian business leaders is Dubai’s zero-income tax policy. Unlike India, where income tax rates can be as high as 30%, Dubai offers a tax-free environment, allowing individuals to retain more of their earnings. This is particularly attractive for high-net-worth individuals who can take advantage of the UAE’s tax-friendly regime.
Luxury Living
Dubai is renowned for its luxurious lifestyle, with world-class amenities, upscale shopping malls, and high-end residential properties. The emirate’s opulent lifestyle is a major draw for Indian business leaders and sports stars, who can enjoy a higher standard of living than they would in India.
Business-Friendly Policies
Dubai is a business-friendly destination, with a streamlined regulatory environment and minimal bureaucratic hurdles. The emirate’s free zones, such as Dubai Internet City and Dubai Media City, offer 100% foreign ownership, zero customs duty, and 0% corporate tax. This makes it an attractive option for entrepreneurs and small business owners looking to set up operations in the region.
UAE’s Golden Visa
The UAE’s Golden Visa program has been instrumental in attracting international talent to Dubai. The program offers a 10-year residency visa to foreign nationals who invest in the country, in exchange for which they can live and work in Dubai without any restrictions. The Golden Visa has been a game-changer for Indian business leaders and sports stars, who can now live and work in Dubai without the need for a sponsorship or employment contract.
Real Estate Boom
Dubai’s real estate market is booming, with prices rising steadily over the past few years. The emirate’s luxury residential properties, in particular, have seen a significant increase in demand, driven by the influx of high-net-worth individuals and families. Indian business leaders and sports stars are taking advantage of this trend, investing in luxury properties and reaping the benefits of Dubai’s growing real estate market.
Security
Last but not least, security is a major consideration for Indian business leaders and sports stars relocating to Dubai. The UAE is known for its low crime rate and strict laws, making it a safe and secure environment for individuals and families. This is particularly important for high-profile individuals who require a sense of security and peace of mind.
Conclusion
In conclusion, Dubai’s unique combination of zero income tax, luxury living, business-friendly policies, and the UAE’s Golden Visa program has made it an attractive destination for Indian business leaders and sports stars. As more and more individuals make the move, Dubai solidifies its position as a global hub for wealth, safety, and global connections. Whether you’re an entrepreneur, businessman, or sports star, Dubai offers a unique combination of opportunities and lifestyle that is hard to find elsewhere.
Source:
https://ascendants.in/business-stories/why-indian-business-leaders-sports-stars-moving-to-dubai/
