Why Indian Business & Sports Icons are Moving to Dubai?
In recent years, Dubai has emerged as a preferred destination for Indian business leaders and sports stars alike. The city’s allure lies in its zero income tax, luxurious lifestyle, and business-friendly policies. With over 4,300 millionaires leaving India in 2024, Dubai remains the top choice for those seeking a haven for their wealth, safety, and global opportunities.
Dubai’s Golden Visa, a 10-year residency permit, has become a significant draw for Indian entrepreneurs, athletes, and artists. This visa offers a range of benefits, including the right to live and work in the UAE, access to quality education and healthcare, and the ability to sponsor family members. The Golden Visa has been instrumental in attracting high-net-worth individuals to Dubai, who can now enjoy a stress-free and luxurious lifestyle.
One of the primary reasons Indian business leaders are flocking to Dubai is the absence of income tax. Unlike India, where income tax rates can range from 10% to 30%, Dubai offers a zero-income-tax policy. This significant advantage allows entrepreneurs to retain more of their hard-earned wealth, making it an attractive destination for those looking to grow their business.
The UAE’s real estate boom is another significant factor driving the exodus of Indian business leaders to Dubai. The city’s property market has witnessed a surge in demand, with prices rising by as much as 20% in some areas. This boom has created a wealth of opportunities for investors, who can now buy, rent, or develop properties in some of the world’s most sought-after locations.
Security is another critical factor that has made Dubai an attractive destination for Indian business leaders. The city boasts a low crime rate, making it an ideal location for families and individuals alike. With its stringent laws and efficient law enforcement, Dubai offers a sense of safety and security that is hard to find elsewhere.
Dubai’s business-friendly policies are another significant draw for Indian entrepreneurs. The city offers a range of incentives, including 100% foreign ownership, zero customs duty, and a streamlined business setup process. This has made it an attractive destination for startups and established businesses alike, who can now set up shop and operate with ease.
The presence of Indian business leaders and sports stars in Dubai has also created a sense of community and camaraderie. Many Indian entrepreneurs have set up businesses in Dubai, catering to the growing demand for Indian products and services. This has created a thriving business ecosystem, where Indian entrepreneurs can connect, collaborate, and grow their businesses.
The sports fraternity is also not immune to Dubai’s allure. Many Indian sports stars have made the city their home, drawn by its luxurious lifestyle, world-class amenities, and top-notch training facilities. The city’s proximity to India and its relaxed visa regulations have made it an attractive destination for athletes, who can now train and compete with ease.
The exodus of Indian business leaders and sports stars to Dubai is not without precedent. In recent years, many prominent Indian entrepreneurs, including the likes of Azim Premji, Ratan Tata, and Kumar Mangalam Birla, have made the city their home. The likes of Sachin Tendulkar, Virat Kohli, and MS Dhoni have also followed suit, drawn by the city’s luxurious lifestyle and world-class amenities.
In conclusion, Dubai’s Golden Visa, real estate boom, and business-friendly policies have made it an attractive destination for Indian business leaders and sports stars. The city’s zero-income-tax policy, luxurious lifestyle, and sense of security have all contributed to its allure. With over 4,300 millionaires leaving India in 2024, 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/
