Why Indian Business & Sports Icons are Moving to Dubai?
Dubai, the gem of the United Arab Emirates, has been gaining immense popularity among Indian business leaders and sports stars in recent years. The city’s zero-income tax, luxurious lifestyle, and business-friendly policies have made it an attractive destination for those seeking a better quality of life and new opportunities. As the world becomes increasingly interconnected, Dubai’s strategic location and infrastructure have transformed it into a global hub, drawing in talent from across the globe.
According to a recent report, over 4,300 millionaires left India in 2024, and Dubai remains the preferred haven for wealth, safety, and global opportunities. But what exactly is driving this exodus of Indian business leaders and sports stars to Dubai?
Zero-Income Tax: A Major Attraction
One of the most significant draws for Indian business leaders is Dubai’s zero-income tax policy. Unlike India, where tax rates can range from 10% to 30% depending on the individual’s income, Dubai offers a tax-free environment. This means that business owners and entrepreneurs can retain a larger share of their earnings, allowing them to reinvest in their businesses and enjoy a higher standard of living.
Luxury Living: Dubai’s High-End Lifestyle
Dubai is renowned for its opulence and extravagance, offering a luxurious lifestyle that is hard to find elsewhere. From upscale residences to 5-star hotels, Dubai’s high-end property market is thriving. The city’s attention to detail and commitment to quality have created a unique blend of traditional and modern architecture, making it a haven for those seeking a luxurious lifestyle.
Business-Friendly Policies: A Catalyst for Growth
Dubai’s business-friendly policies have made it an attractive destination for entrepreneurs and small business owners. The city’s free zones, such as the Dubai International Financial Centre (DIFC) and the Dubai Multi Commodities Centre (DMCC), offer a range of incentives, including 100% foreign ownership, zero taxes, and streamlined regulations.
The UAE’s Golden Visa: A Path to Permanent Residency
In 2019, the UAE introduced the Golden Visa, a 5-year residency visa that allows holders to live and work in the country without the need for a local sponsor. This visa is granted to individuals who meet specific criteria, such as being a high-net-worth individual, a business owner, or a student. The Golden Visa has become a popular option for Indian business leaders and sports stars looking to make Dubai their permanent home.
Real Estate Boom: A Lucrative Opportunity
Dubai’s real estate market is booming, with properties in prime locations being snapped up by investors and end-users alike. The city’s infrastructure development, including the Dubai Metro and the Dubai Tram, has made it easier to get around, increasing property values and attracting more investors.
Security: A Top Priority
Safety and security are top priorities for any individual looking to relocate to a new city. Dubai is known for its low crime rate and strict laws, making it an attractive destination for families and individuals alike.
Global Opportunities: A Hub for Business and Sports
Dubai’s strategic location at the crossroads of East and West has made it a hub for international trade, finance, and commerce. The city’s proximity to India, its largest trading partner, has made it an attractive destination for Indian business leaders and sports stars looking to expand their global reach.
Indian Business Leaders: The New Wave
Many Indian business leaders have already made the move to Dubai, drawn by the city’s business-friendly policies and luxurious lifestyle. From entrepreneurs to CEOs, Dubai has become a haven for Indian business leaders looking to expand their global footprint.
Sports Stars: The New Wave
Dubai’s popularity among Indian sports stars is also on the rise. Many cricketers, including former Indian captain Sourav Ganguly and current star Rohit Sharma, have made the move to Dubai, drawn by the city’s luxurious lifestyle and global opportunities.
Conclusion
Dubai’s attractive combination of zero-income tax, luxurious lifestyle, and business-friendly policies has made it an attractive destination for Indian business leaders and sports stars. As the city continues to grow and develop, it is likely that more and more individuals will make the move to Dubai, drawn by its promise of wealth, safety, and global opportunities.
Source:
https://ascendants.in/business-stories/why-indian-business-leaders-sports-stars-moving-to-dubai/
