Why Indian Business & Sports Icons are Moving to Dubai?
In recent years, Dubai has emerged as a magnet for Indian business leaders and sports stars, drawn by its attractive proposition of zero income tax, luxury living, and business-friendly policies. The United Arab Emirates’ (UAE) Golden Visa, real estate boom, and exceptional security have made it a top choice for those seeking a haven for their wealth, safety, and global opportunities.
The trend is not new; the UAE has been a popular destination for Indian expats for decades. However, the recent surge in Indian millionaires fleeing their home country is a significant development, with over 4,300 millionaires leaving India in 2024 alone. Dubai remains the preferred haven for many, offering a more secure and prosperous future for these high-net-worth individuals.
Zero Income Tax: A Major Attraction
One of the primary reasons Indian business leaders and sports stars are moving to Dubai is the absence of income tax. The UAE does not impose income tax on individuals, making it an attractive destination for those looking to save on taxes. In contrast, India has a relatively high income tax rate, ranging from 10% to 35%. The zero-income tax policy in the UAE allows individuals to retain more of their earnings, making it an attractive proposition for those looking to grow their wealth.
Luxury Living: A High-End Lifestyle
Dubai is renowned for its luxurious lifestyle, which is a significant draw for Indian business leaders and sports stars. The city offers world-class amenities, including top-notch restaurants, luxury hotels, and high-end shopping malls. The city’s architecture, entertainment options, and cultural events also make it an attractive destination for those seeking a high-end lifestyle.
Business-Friendly Policies: A Haven for Entrepreneurs
Dubai is a business-friendly city, with policies designed to attract entrepreneurs and businesses. The city is home to the Dubai International Financial Centre (DIFC), a leading financial hub that offers a range of benefits, including zero tax on profits, no restrictions on foreign ownership, and easy access to funding. The city also has a range of free trade zones, including the Dubai Airport Free Zone, which offers a range of benefits, including zero tax on profits and no restrictions on foreign ownership.
The UAE’s Golden Visa: A Path to Residency
The UAE’s Golden Visa is a highly sought-after residency permit that offers a range of benefits, including a 10-year residency visa, no restrictions on employment, and no requirement to live in the UAE. The Golden Visa is designed to attract top talent and entrepreneurs, and it has been instrumental in attracting Indian business leaders and sports stars to the city.
Real Estate Boom: A Lucrative Investment Opportunity
Dubai is experiencing a real estate boom, with property prices rising significantly in recent years. The city’s real estate market offers a range of investment opportunities, including apartments, villas, and commercial properties. The city’s government has also launched a range of initiatives to attract foreign investors, including the Dubai Real Estate Institute, which offers training and certification programs for real estate professionals.
Security: A Top Priority
Security is a top priority for many Indian business leaders and sports stars, and Dubai offers a high level of security. The city has a low crime rate, and the government has implemented a range of measures to ensure public safety, including a state-of-the-art surveillance system and a highly trained police force.
Conclusion
In conclusion, Dubai has emerged as a top destination for Indian business leaders and sports stars, drawn by its attractive proposition of zero income tax, luxury living, and business-friendly policies. The UAE’s Golden Visa, real estate boom, and exceptional security have made it a haven for wealth, safety, and global opportunities. As the trend of Indian millionaires fleeing their home country continues, Dubai is poised to remain a preferred destination for those seeking a more secure and prosperous future.
Source: https://ascendants.in/business-stories/why-indian-business-leaders-sports-stars-moving-to-dubai/
