Why Indian Business & Sports Icons are Moving to Dubai?
The United Arab Emirates (UAE) has long been a popular destination for international business leaders and entrepreneurs. Dubai, in particular, has emerged as a magnet for Indian business leaders and sports stars, drawn by its zero-income tax policy, luxurious living, and business-friendly environment. In recent years, the city has witnessed a significant influx of Indian expats, with many opting to relocate permanently. But what makes Dubai so attractive to the Indian elite? In this article, we’ll explore the reasons behind this phenomenon and why Dubai remains the preferred haven for wealth, safety, and global opportunities.
Zero-Income Tax: A Major Draw
One of the primary reasons Indian business leaders and sports stars are flocking to Dubai is its zero-income tax policy. Unlike India, where income tax rates range from 5% to 30%, Dubai does not impose any income tax on individuals or corporations. This attractive proposition is a significant draw for Indian entrepreneurs and professionals, who can enjoy a significant reduction in their tax liability. For instance, a successful businessman in India might pay up to 30% of their income in taxes, while their counterpart in Dubai would pay zero income tax.
Luxury Living
Dubai is renowned for its opulent lifestyle, with world-class amenities and infrastructure. Indian business leaders and sports stars are drawn to the city’s luxurious living standards, which offer a unique blend of traditional Arabic hospitality and modern comforts. The city is home to some of the world’s most luxurious hotels, resorts, and apartments, making it an attractive destination for those seeking a luxurious lifestyle.
Business-Friendly Environment
Dubai is a business-friendly environment, with a well-regulated economy and a streamlined bureaucracy. The city has a reputation for being an easy place to set up and run a business, with minimal regulatory hurdles and a wide range of business-friendly policies. This has made it an attractive destination for Indian entrepreneurs and small business owners, who can establish themselves quickly and efficiently.
The UAE’s Golden Visa
In 2019, the UAE introduced its Golden Visa program, which offers a 10-year residency visa to foreign nationals who meet certain criteria. The program is designed to attract high-net-worth individuals, entrepreneurs, and professionals to the country. Indian business leaders and sports stars are particularly attracted to this program, which offers a range of benefits, including:
- A 10-year residency visa
- A waiver of sponsorship requirements
- The ability to live and work in the UAE without the need for a local sponsor
- A pathway to citizenship for certain individuals
Real Estate Boom
Dubai’s real estate market has experienced a significant boom in recent years, driven by its growing popularity as a business and tourist destination. The city is home to some of the world’s most iconic landmarks, including the Burj Khalifa, the world’s tallest building. Indian business leaders and sports stars are attracted to Dubai’s real estate market, which offers a range of luxurious properties, from apartments to villas.
Security
The UAE is known for its high level of security, with a strong police force and a low crime rate. Indian business leaders and sports stars are drawn to Dubai’s secure environment, which provides a safe and stable place to live and work.
The Numbers
The influx of Indian business leaders and sports stars to Dubai is not limited to anecdotal evidence. According to a report by the Indian High Commission in Dubai, more than 4,300 millionaires left India in 2024, with many opting to relocate to Dubai. This trend is likely to continue, driven by the city’s attractive business-friendly environment, luxurious living standards, and zero-income tax policy.
Conclusion
Dubai’s popularity among Indian business leaders and sports stars can be attributed to a combination of factors, including its zero-income tax policy, luxurious living standards, business-friendly environment, and the UAE’s Golden Visa program. The city’s real estate boom and high level of security only add to its appeal. As India’s economy continues to grow, it’s likely that more Indian entrepreneurs and professionals will be drawn to Dubai’s unique blend of business and lifestyle opportunities.
Source:
https://ascendants.in/business-stories/why-indian-business-leaders-sports-stars-moving-to-dubai/
