Dubai is often portrayed as a haven for wealthy individuals looking for a glamorous and convenient lifestyle. With its easy business environment, extensive flight connections, and safe streets, it is no wonder that many millionaires are choosing to make it their home.
In addition to its luxurious lifestyle, Dubai also offers tax-free living for the wealthy. There are no taxes on income, property, or capital gains in Dubai, making it even more appealing to high-net-worth individuals.
As the glitzy business hub of the United Arab Emirates (UAE), Dubai is predicted to see a significant increase in the number of millionaires moving there this year. Henley & Partners, a wealth consultancy, forecasts that 6,700 millionaires will choose Dubai as their new home compared to only 5.5 millionaires expected to move to the United States. Historically, Dubai has been a popular choice for rich individuals from Russia, India and neighboring Arab countries but now there is a new trend of Europeans seeking refuge in Dubai due to political uncertainty in their home countries.
