Why Indian Business & Sports Icons are Moving to Dubai?
In recent years, Dubai has emerged as a magnet for Indian business leaders and sports icons. The United Arab Emirates (UAE) has become a preferred destination for those seeking a better quality of life, business-friendly policies, and a secure environment. The country’s Golden Visa program, real estate boom, and zero income tax have all contributed to its allure. As a result, Dubai has become the go-to destination for many Indian entrepreneurs, professionals, and sports personalities.
Business-Friendly Policies
Dubai’s business-friendly policies are a significant draw for Indian entrepreneurs. The UAE has a highly developed infrastructure, state-of-the-art facilities, and a well-established logistics network. The country’s free zones offer 100% foreign ownership, zero taxes, and a streamlined regulatory environment, making it an attractive destination for businesses. Additionally, the UAE’s strategic location at the crossroads of Asia, Europe, and Africa makes it an ideal hub for international trade.
Zero Income Tax
One of the most significant advantages of relocating to Dubai is the absence of income tax. India, on the other hand, has a high tax burden, with income tax rates ranging from 10% to 42.7%. For Indian business leaders and professionals, the prospect of saving tens of thousands of dollars in taxes each year is a significant incentive to relocate to Dubai.
Luxury Living
Dubai is renowned for its luxurious lifestyle, with world-class amenities, stunning architecture, and a vibrant cultural scene. The city offers a range of high-end residential options, from luxurious apartments to sprawling villas. The UAE’s relaxed lifestyle, with a focus on entertainment, dining, and leisure activities, is also a major draw for Indian business leaders and sports icons.
The Golden Visa
The UAE’s Golden Visa program is a highly sought-after initiative that offers long-term residency to foreign nationals. The program, introduced in 2019, offers a 10-year residency visa to individuals who meet specific criteria, including having a minimum investment of AED 5 million (approximately USD 1.36 million) in a property or business. The Golden Visa program has attracted many Indian business leaders and professionals, who see it as a pathway to securing a long-term future in the UAE.
Real Estate Boom
Dubai’s real estate market is booming, with a surge in demand for luxury properties. The city’s property prices have increased by over 20% in the past year, making it an attractive investment opportunity for Indian business leaders and sports icons. The UAE’s property market is also relatively affordable compared to other major cities around the world.
Security
The UAE is known for its strict security measures, making it a safe and secure environment for Indian business leaders and sports icons. The country has a low crime rate, and its law enforcement agencies are highly effective in maintaining law and order. The UAE’s security measures are also designed to protect its residents from external threats, making it an attractive destination for those seeking a safe and secure environment.
The Exodus of Indian Millionaires
According to a recent report by the Hurun Research Institute, over 4,300 millionaires left India in 2024, with many relocating to Dubai. The report noted that the number of millionaires leaving India has increased by over 20% in the past year, with many citing the UAE’s business-friendly policies, luxury living, and security as major factors in their decision to relocate.
Conclusion
Dubai’s allure for Indian business leaders and sports icons is undeniable. The city’s business-friendly policies, zero income tax, luxury living, and security make it an attractive destination for those seeking a better quality of life and business opportunities. As the UAE continues to evolve and grow, it is likely that Dubai will remain a preferred haven for wealth, safety, and global opportunities.
News Source:
https://ascendants.in/business-stories/why-indian-business-leaders-sports-stars-moving-to-dubai/
