Why Indian Business & Sports Icons are Moving to Dubai?
In recent years, Dubai has been witnessing an influx of Indian business leaders and sports stars, who are drawn to the city’s promise of 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.
According to a report by the National Association of Software and Service Companies (NASSCOM), over 4,300 millionaires left India in 2024, and Dubai remains the preferred destination for many of them. This exodus is not limited to just millionaires; even mid-sized business owners and entrepreneurs are also making the move, citing the UAE’s more favorable business environment and lifestyle.
One of the primary reasons behind this migration is the absence of income tax in the UAE. Unlike India, where income tax can range from 5% to 30% depending on the individual’s income, Dubai offers a tax-free environment. This means that business leaders and individuals can keep their hard-earned money without worrying about hefty tax bills.
Another significant draw is Dubai’s luxury living experience. The city offers a unique blend of modernity and tradition, with world-class amenities, restaurants, and entertainment options. The expat community is thriving, with many Indian business leaders and sports stars already calling Dubai home.
Business-friendly policies are also a major attraction. Dubai has a well-developed infrastructure, with state-of-the-art transportation systems, modern offices, and a highly developed logistics network. The city is also a major hub for international trade, with easy access to markets in the Middle East, Africa, and Asia.
The UAE’s Golden Visa program is another significant incentive. Introduced in 2019, the program offers long-term residency to eligible individuals, including business leaders and entrepreneurs. The visa allows holders to live, work, and own property in the UAE without the need for a sponsor or employer.
Real estate is another area where Dubai excels. The city has seen a massive boom in the property market, with luxury apartments, villas, and commercial spaces available in prime locations. Many Indian business leaders and sports stars are investing in Dubai’s real estate market, both for personal use and as an investment opportunity.
Security is also a major concern for those considering a move to Dubai. The city is known for its high level of security, with a strong police force and strict laws in place to protect citizens and residents. This provides peace of mind for business leaders and individuals, who can focus on their work and personal lives without worrying about safety concerns.
Several high-profile Indian business leaders and sports stars have already made the move to Dubai. For example, billionaire businessman Anil Ambani has a significant presence in the city, with his Reliance Group having a strong foothold in the UAE. Other notable examples include cricketers like Yuvraj Singh and Harbhajan Singh, who have also made Dubai their home.
In conclusion, Dubai’s unique combination of zero income tax, luxury living, business-friendly policies, and security make it an attractive destination for Indian business leaders and sports stars. With over 4,300 millionaires leaving India in 2024, it’s clear that Dubai is the preferred haven for wealth, safety, and global opportunities. As the city continues to grow and develop, it’s likely that we’ll see even more Indian business leaders and sports stars making the move to this vibrant and dynamic city.
Source: https://ascendants.in/business-stories/why-indian-business-leaders-sports-stars-moving-to-dubai/
