Why Indian Business & Sports Icons are Moving to Dubai?
Dubai, the city of gold, has become a magnet for Indian business leaders and sports stars alike. The city’s alluring combination of zero income tax, luxurious living, and business-friendly policies has made it an irresistible destination for those seeking a better life. As the number of Indian millionaires leaving the country continues to rise, Dubai remains the go-to haven for wealth, safety, and global opportunities.
In 2024 alone, a staggering 4,300 millionaires left India, seeking greener pastures in Dubai and other parts of the world. This exodus is not limited to entrepreneurs and business moguls; even sports stars are making the move to escape the complexities of Indian taxation and enjoy a more relaxed lifestyle.
So, what’s behind this mass migration? Let’s explore the reasons why Indian business leaders and sports icons are flocking to Dubai.
Zero Income Tax: A Major Draw
One of the most significant attractions is Dubai’s zero-income tax policy. Unlike India, where income tax rates can climb as high as 35%, Dubai offers a tax-free environment, making it an attractive option for high-net-worth individuals. This means that business leaders and sports stars can enjoy their hard-earned wealth without worrying about the taxman’s grasp.
Luxury Living
Dubai is renowned for its opulence and extravagance. From lavish villas to five-star hotels, the city offers a luxurious lifestyle that’s unmatched in many parts of the world. The city’s real estate boom has seen the emergence of high-end developments, offering residents unparalleled amenities and services. For Indian business leaders and sports stars, Dubai’s luxury lifestyle is a major draw, allowing them to enjoy the finer things in life without breaking the bank.
Business-Friendly Policies
Dubai’s business-friendly policies have made it an attractive destination for entrepreneurs and start-ups. The city offers a range of benefits, including:
- 100% Foreign Ownership: Foreigners can own 100% of a business in Dubai, making it an ideal location for international companies looking to expand their operations.
- Easy Setup: Setting up a business in Dubai is a relatively straightforward process, with minimal bureaucratic hurdles to clear.
- Competitive Tax Regime: Dubai’s zero-income tax policy, combined with low corporate tax rates, makes it an attractive location for businesses looking to reduce their tax liability.
- World-Class Infrastructure: Dubai’s state-of-the-art infrastructure, including airports, seaports, and telecommunications, provides businesses with a solid foundation for growth and success.
The UAE’s Golden Visa
The UAE’s Golden Visa program has been a game-changer for Indian business leaders and sports stars. This long-term residency visa, which is valid for up to 10 years, offers a range of benefits, including:
- Residency: The Golden Visa allows holders to live and work in the UAE for an extended period.
- Travel: Golden Visa holders are entitled to unlimited travel to and from the UAE, making it an ideal option for those who need to travel frequently for business or leisure.
- Investment Opportunities: The Golden Visa provides access to a range of investment opportunities in the UAE, including real estate, stocks, and bonds.
Real Estate Boom
Dubai’s real estate market has experienced a significant boom in recent years, driven by the city’s growing popularity among expatriates. The city’s luxury developments, including the iconic Burj Khalifa, have become a symbol of opulence and extravagance, attracting high-net-worth individuals from around the world.
Security
Security is a major concern for many Indians, especially business leaders and sports stars who may face threats or intimidation. Dubai, with its strict laws and efficient law enforcement, provides a safe and secure environment for its residents. The city’s low crime rate and strong security infrastructure make it an attractive option for those seeking a peaceful and secure lifestyle.
Conclusion
Dubai’s unique blend of zero income tax, luxury living, business-friendly policies, and security has made it an irresistible destination for Indian business leaders and sports stars. As the number of Indian millionaires leaving the country continues to rise, Dubai remains the preferred haven for wealth, safety, and global opportunities. Whether you’re an entrepreneur, sports star, or simply looking for a better life, Dubai has something to offer.
News Source: https://ascendants.in/business-stories/why-indian-business-leaders-sports-stars-moving-to-dubai/
