Why Indian Business & Sports Icons are Moving to Dubai?
Dubai, the city of gold, has been a magnet for Indian business leaders and sports stars alike. The UAE’s business-friendly policies, luxurious lifestyle, and security have made it an attractive destination for many. In recent years, the number of Indian millionaires leaving the country has been staggering, with over 4,300 millionaires departing in 2024 alone. So, what’s driving this exodus? In this blog post, we’ll explore the reasons behind the mass migration of Indian business icons to Dubai.
Zero Income Tax: A Major Draw
One of the primary reasons Indian business leaders and sports stars are flocking to Dubai is the zero-income tax policy. The UAE does not impose income tax on individuals or corporations, making it an attractive destination for those looking to reduce their tax burden. This has led to a significant influx of high-net-worth individuals (HNWIs) and businesses setting up shop in Dubai.
Luxury Living
Dubai is known for its luxurious lifestyle, and Indian business leaders and sports stars are no exception. The city offers a range of high-end properties, luxury hotels, and world-class amenities, making it an ideal location for those who value comfort and luxury. From opulent villas to upscale apartments, Dubai has something to offer every style and budget.
Business-Friendly Policies
The UAE is renowned for its business-friendly policies, which have made it an attractive destination for entrepreneurs and business leaders. The country offers a range of incentives, including 100% foreign ownership, no restrictions on repatriation of capital, and a streamlined process for setting up a business. This has led to a surge in foreign investment, with many Indian businesses setting up operations in Dubai.
The Golden Visa
In 2019, the UAE introduced the Golden Visa, a long-term residency visa that allows holders to live and work in the country for up to 10 years. The visa is designed to attract highly skilled professionals, entrepreneurs, and investors, and has been a major draw for Indian business leaders and sports stars. The Golden Visa offers a range of benefits, including access to high-quality healthcare, education, and infrastructure.
Real Estate Boom
Dubai has been experiencing a real estate boom in recent years, with prices continuing to rise. The city has seen a surge in demand for luxury properties, driven by the influx of HNWIs and businesses. This has led to a range of new developments, including upscale apartments, villas, and commercial properties.
Security
The UAE is known for its high level of security, which is a major draw for Indian business leaders and sports stars. The country has a low crime rate and a highly effective law enforcement system, making it an attractive destination for those who value safety and security.
Sports Stars
Dubai has become a popular destination for Indian sports stars, with many choosing to relocate to the city. The city offers a range of sports facilities and infrastructure, including state-of-the-art stadiums and training facilities. Dubai has also hosted a range of international sports events, including the Dubai Tennis Championships and the Dubai Marathon.
Indian Business Leaders
Indian business leaders have also been drawn to Dubai, with many setting up operations in the city. The UAE has a range of business centers and free zones, offering a range of benefits and incentives for entrepreneurs and businesses. Dubai has also become a major hub for trade and commerce, with many Indian companies setting up operations in the city.
Conclusion
In conclusion, Dubai has become a popular destination for Indian business leaders and sports stars, driven by its zero-income tax policy, luxurious lifestyle, business-friendly policies, the Golden Visa, real estate boom, and high level of security. With over 4,300 millionaires leaving India in 2024 alone, Dubai remains the preferred haven for wealth, safety, and global opportunities.
Source:
https://ascendants.in/business-stories/why-indian-business-leaders-sports-stars-moving-to-dubai/
