Why Indian Business & Sports Icons are Moving to Dubai?
In recent years, a significant number of Indian business leaders and sports stars have been making the move to Dubai, attracted by the city’s unique combination of benefits. From zero income tax to luxury living, Dubai offers a lifestyle that is unparalleled in India. In this blog post, we’ll explore the reasons behind this trend and why Dubai remains the go-to destination for Indian high-net-worth individuals.
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. In India, the income tax slab is quite steep, with individuals earning above ₹50 lakhs per annum being taxed at a rate of 30%. In contrast, Dubai offers a tax-free environment, making it an attractive option for those seeking to minimize their tax liabilities.
Luxury Living: A Cut Above the Rest
Dubai is renowned for its opulence and extravagance, making it a perfect haven for those who crave luxury living. From world-class hotels to upscale residences, Dubai offers a lifestyle that is unmatched in India. The city’s real estate market is also witnessing a boom, with high-end properties being snapped up by Indian billionaires and business leaders.
Business-Friendly Policies: A Boost to Entrepreneurship
Dubai’s business-friendly policies make it an attractive option for entrepreneurs and business leaders. The city offers a range of benefits, including 100% foreign ownership, no restrictions on capital repatriation, and a streamlined bureaucracy. This has made Dubai a hub for international trade and commerce, attracting businesses from around the world.
The UAE’s Golden Visa: A Game-Changer
In 2019, the United Arab Emirates (UAE) introduced the Golden Visa, a special residency visa that offers a range of benefits to expats. The visa is valid for 5 years and offers a range of privileges, including the ability to sponsor family members, own property, and work in the UAE. The Golden Visa has been a major draw for Indian business leaders and sports stars, who are attracted by the visa’s flexibility and benefits.
Real Estate Boom: A Lucrative Investment Opportunity
Dubai’s real estate market is experiencing a boom, with property prices rising steadily in recent years. The city’s proximity to India, coupled with its business-friendly policies, has made it an attractive option for Indian real estate investors. Many Indian business leaders and sports stars are snapping up properties in Dubai, attracted by the city’s potential for long-term growth and returns.
Security: A Top Priority
Security is a top priority for Indian business leaders and sports stars, and Dubai offers a safe and secure environment. The city has a low crime rate, making it an attractive option for those who value safety and security.
A Haven for Wealth: Over 4,300 Millionaires Left India in 2024
According to a report by Hurun Research, over 4,300 millionaires left India in 2024, with many of them opting for Dubai as their destination. The report highlights the city’s appeal as a haven for wealth, safety, and global opportunities.
Conclusion
In conclusion, Dubai’s unique combination of benefits has made it an attractive option for Indian business leaders and sports stars. From zero income tax to luxury living, business-friendly policies, and the UAE’s Golden Visa, Dubai offers a lifestyle that is unmatched in India. With its real estate boom, security, and proximity to India, Dubai remains the go-to destination for Indian high-net-worth individuals seeking to diversify their assets and lifestyle.
News Source:
https://ascendants.in/business-stories/why-indian-business-leaders-sports-stars-moving-to-dubai/
