Why Indian Business & Sports Icons are Moving to Dubai?
In recent years, it has become a common phenomenon to see successful Indian business leaders and sports stars relocating to Dubai, the business hub of the Middle East. The reasons for this exodus are varied, but one common thread that runs through is the promise of a better life, where the focus is on wealth creation, luxury living, and a more relaxed regulatory environment.
One of the primary attractions of Dubai is its zero income tax policy. Unlike India, where tax authorities are known to be quite aggressive, Dubai offers a completely tax-free environment, making it an attractive proposition for high-net-worth individuals. This has led to a surge in the number of millionaires and billionaires making Dubai their home. In fact, according to a recent report, over 4,300 millionaires left India in 2024 alone, with many of them opting for Dubai as their preferred destination.
Another significant factor is the UAE’s Golden Visa program, which offers residency and visa benefits to individuals who meet certain eligibility criteria. This program has been extended to include a range of professions, including entrepreneurs, investors, and even artists and musicians. The Golden Visa offers a 10-year residency visa, which can be renewed indefinitely, and also provides a range of benefits, including the ability to sponsor family members, own property, and even start a business.
Real estate is another key driver of Dubai’s appeal. The city has seen a massive boom in the real estate sector, with a range of luxury properties and apartments being built to cater to the growing demand. The government has also taken steps to make it easier for foreigners to own property in Dubai, which has led to a surge in foreign investment in the sector.
Security is also a major concern for many Indians who are relocating to Dubai. The city is known for its low crime rate and strict laws, which make it a very safe place to live and work. In contrast, India has seen a rise in crime rates and terrorism-related incidents in recent years, which has led many individuals to seek a safer haven.
Finally, Dubai’s strategic location and business-friendly policies make it an attractive destination for entrepreneurs and business leaders. The city is a major hub for international trade and commerce, with a range of industries, including finance, logistics, and technology, being major contributors to the economy. The government has also taken steps to make it easier for businesses to set up and operate in Dubai, with a range of initiatives aimed at attracting foreign investment.
So, who are some of the Indian business leaders and sports stars who have made the move to Dubai? The list is long and illustrious, and includes the likes of Mukesh Ambani, the billionaire chairman of Reliance Industries, who has a home in Dubai; Sachin Tendulkar, the cricket legend, who has a business venture in Dubai; and even Bollywood stars like Shah Rukh Khan and Hrithik Roshan, who have been spotted at various events in the city.
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 its Golden Visa program, real estate boom, and strategic location, Dubai is set to remain a top choice for those seeking a better life, both personally and professionally.
Source: https://ascendants.in/business-stories/why-indian-business-leaders-sports-stars-moving-to-dubai/
