5 Reasons Why India's Super-Rich Are Migrating to the UAE


Mohul Ghosh

Mohul Ghosh

Jun 24, 2024


5 Reasons Why India's Super-Rich Are Migrating to the UAE

A recent report by Henley & Partners has highlighted a growing trend: India’s super-rich are increasingly migrating to the United Arab Emirates (UAE). In 2023, an estimated 4,300 millionaires are expected to leave India, with Dubai being the top destination. This migration trend underscores the UAE’s allure for high-net-worth individuals seeking better opportunities and lifestyle improvements. Here are five reasons why India’s wealthy are choosing to make the UAE their new home.

1. Attractive Investment and Property Market

The UAE, particularly Dubai, has become a favored destination for India’s wealthy due to its robust property market and attractive investment opportunities. According to a report by Henley & Partners, approximately 4,300 millionaires are expected to leave India for the UAE in 2023. In 2022, Indian buyers contributed significantly to Dubai’s real estate market, accounting for 40% of homebuyers and generating 16 billion dirhams (Rs 35,500 crore) in property purchases. This influx highlights the UAE’s appeal to affluent Indians seeking secure and profitable investment opportunities.

2. Favorable Tax Environment

One of the primary motivations for India’s super-rich to migrate to the UAE is the favorable tax environment. The UAE offers a tax-free lifestyle, with no personal income tax, making it an attractive option for high-net-worth individuals looking to protect their wealth from potential tax liabilities in India. Additionally, the UAE’s business-friendly policies, including the elimination of the requirement for companies to have a majority local partner, further enhance its appeal as a financial haven for the wealthy.

3. Golden Visa Program

The UAE’s Golden Visa program has been a significant draw for affluent Indians. Expanded in 2022, the program now includes more professionals, skilled workers, scientists, and researchers, offering long-term residency with exclusive benefits. This program not only provides stability and security for individuals and their families but also facilitates business operations and investment opportunities in the UAE, making it an attractive option for India’s elite.

4. Superior Quality of Life

The UAE’s cosmopolitan culture, high-quality infrastructure, excellent civic amenities, and diverse entertainment options contribute to its allure for India’s wealthy. The country boasts world-class healthcare, top-notch education, luxury shopping, and a high standard of living, making it an ideal destination for those seeking a better quality of life. The combination of these factors ensures that the UAE remains a preferred choice for affluent Indians looking to enhance their lifestyle.

5. Thriving Tech and Startup Ecosystem

The UAE has become a hotspot for tech entrepreneurs and startups, offering a supportive policy environment and various incentives. Dubai, in particular, has seen a significant influx of Indian tech talent, with over 30% of its startup community comprising Indians. The city offers 100,000 Golden Visas to entrepreneurs and technology investors, allowing them to reside in the country for up to 10 years. Additionally, Dubai’s national small-business program assists startups in securing funding and partnering with established companies, fostering a thriving ecosystem for innovation and entrepreneurship.

Summary

India’s super-rich are migrating to the UAE for its attractive investment and property market, favorable tax environment, Golden Visa program, superior quality of life, and thriving tech and startup ecosystem. The UAE offers secure investment opportunities, a tax-free lifestyle, long-term residency options, high living standards, and strong support for tech entrepreneurs, making it a preferred destination for affluent Indians.


Mohul Ghosh
Mohul Ghosh
  • 1113 Posts

Subscribe Now!

Get latest news and views related to startups, tech and business

You Might Also Like

Business
Dec. 8, 2022

Beat The Burden Of Medical Inflation With A Health Insurance

As disease rates rise and medical technology develops, treatment costs climb. It’s essential to understand that medical costs are not exclusively associated with hospitals. The cost of prescription drugs, diagnostic procedures, ambulance and operating room fees, consultations with doctors, and other costs are also constantly increasing. All of them could put a big strain on […]

Business
Dec. 8, 2022

3 Biggest Changes Of iOS 16.2 Update That Every iPhone User Should Know!

In its latest update Apple said that it is preparing for the iOS 16.2 update for iPhones across the world. Notably, like the previous release, there are a couple of changes coming for the iPhones.  iOS 16.2 Update Release Date So far, Apple has not announced a release date for iOS 16.2 update. Reportedly, the […]

Business
Dec. 8, 2022

300 Microsoft Employees Create Employee Union, First Time Ever: This Is How Microsoft Reacted

Around 300 workers at Microsoft Corp.’s ZeniMax Studios have commenced the process of forming a union which is said to be the first at the software giant in the US.  Here, Microsoft Corp.’s ZeniMax Studios known for popular video games including Skyrim and Fallout. Forming Union In Microsoft Corp Moreover, the quality assurance employees at […]

Business
Dec. 7, 2022

India Beats China In Air Travel Safety: Ranking Jumps From 102 To 48 In Global Aviation Safety

India’s air safety protocols and executions have improved drastically over the years, as validated by the findings of a specialized agency of the United Nations, the International Civil Aviation Organization or ICAO. The UN watchdog has upgraded India’s ranking in terms of aviation safety to the 48th position, jumping past the rankings of countries like […]

Recent Posts

Related Videos

   

Subscribe Now!

Get latest news and views related to startups, tech and business

who's online