In the recent past, the United Arab Emirates established itself as one of the most favorable countries for high-net-worth individuals and wealthy entrepreneurs. Be it the flexible tax regime, rich culture, prime locations, or attractive lifestyles, the United Arab Emirates (UAE) has surpassed many developed countries as the preferred choice of country to migrate to.
The UAE has been marked as the world's primary destination for high-net-worth people, with a predicted net inflow of nearly 6,700 millionaires in 2025- more than any other country.
For experts who’ve closely tracked the growth of the UAE, this hardly comes as a surprise given that the UAE has always been a leader in attracting skillful workers to their shores. However, as investment-based relocations get increasingly altered by economic, geopolitical, and domestic social variables, the country offers a reliable, safe, and conducive environment for wealthy families.
Now let's look at some of the points why ultra-high-net-worth families choose the UAE over other countries.
- Tax Relaxation
The biggest factor in choosing Dubai as a second home is the tax rebates that it has to offer. As it’s been extensively written and talked about how the country supports entrepreneurs, the UAE indeed does not charge any personal tax from individuals.
This is something that attracts individuals who are highly motivated to build a personal fortune. As seen around the world, nearly every developed country imposes a high rate of income tax, taxpayers are often tempted to shift base to the UAE. Although they recently introduced a corporate tax system, before June 2023, the United Arab Emirates did not even have a corporate tax system. The lucrative tax regime also manages to reduce the excessive oversight of heavy transactions done by high-net-worth individuals.
- World-Class Infrastructure
Architectural marvels like Burj Khalifa, Burj Al Arab, Dubai Frame, and Jumeirah Emirates Tower make this country stand tall and apart. The unmatched architecture and amazing locations draw the attention of the world. A bustling cosmopolitan ambiance and ease of living thanks to the world-class infrastructure make the UAE an enticing place to live for growing families.
- Lifestyle
Whether you are planning a lavish vacation or scheduling a business conference, Dubai never disappoints. The lavish lifestyle and high living standards leave everyone awestruck. The healthcare system and educational facilities add grace to the living standards. Ultra-modern urban centers in the country, advanced transport modes, and high-tech facilities are part of the above standard-of-living offerings; thus, appealing to high-net-worth individuals and their families.
- Friendly Business Environment
The UAE’s friendly business environment and government support are the reasons people choose to live in Dubai and not in other countries. The UAE government is solely focused on increasing Foreign Direct Investment. Offering free zones, offshore sites, and mainlands, Dubai is known for its best business policies. It provides easy company establishment, access to worldwide markets, and a strong government that promotes varied growth.
- Stable Economy
The biggest advantage of staying in Dubai is the economy. Reports suggest that the country’s economy is likely to grow between 3 and 5% in 2025, which is a good growth rate. Naturally, individuals or entrepreneurs would invest in an economically stable country and secure their future. In many leading global surveys, Abu Dhabi has frequently been ranked as the safest city in the world. The demonstration of the active endeavor of the government in safety and security adds much to the lure of the UAE as a top international destination for expats.
- Innovation
Thanks to the wealth of highly skilled professionals in the UAE, the country is home to some of the most highly sophisticated technology.
Whether in the food business, real estate, or healthcare sector, the UAE is leading in the race of innovation & research. With the use of AI for healthcare services and food deliveries, innovation streamlines daily life and helps people grow.
- Cultural vibrancy
The UAE is a melange of human cultures. Over 200 nationalities cohabitate harmoniously and have a welcoming attitude towards foreigners. This includes vibrant living and social scenes with events, festivals, and activities, making it one of the world's most cosmopolitan and multicultural societies.
- Diversified Workforce
It's estimated that 8 million out of the 10 million people who live in the UAE are expatriates. They have expatriate-friendly rules so that individuals wanting to work and live there can do so. This is why many highly skilled individuals from all religions and cultures flock to the UAE in search of a prosperous future.
Providing a wide range of opportunities, Dubai is the first choice for ultra-high-net-worth families. The space, location, culture, and lifestyle of the UAE offer everything. This is the big reason why the United Arab Emirates is the hottest place for celebrities and rich business persons.
So, setting up a family business or migrating to Dubai with a family, you will need a visa, license, bank account, and many more things. Markai Corporate Service’s dedicated team is always happy to assist you with all the requirements. Get in touch with Markai Corporate Services and fly to your dream destination.
