Dubai Set to Welcome More Millionaires A Growing Hub for Wealthy UK Expats
According to reports, there are signals of significant increase in the ‘millionaires moving to Dubai’, ‘UK millionaires moving to UAE’ will remain a trend in the coming future because of the good living conditions, good economy and luxurious life style.
From the Henley Private Wealth Migration Report, a record high of 9,500 millionaires left the UK in the previous year, only surpassed by China as the preferred destination of millions of super rich. Most of the new millionaires are moving to Dubai from around the world through the tax haven, quality lifestyle and attractive investment returns.
Why Dubai?
Economic and Lifestyle Appeal
There are several factors which make Dubai the preferable place for the rich – comfort, living standards, and economic performance. Absence of taxation is another advantage for the city whereby rich people base their tax wealth accumulation free from taxes. Furthermore, the infrastructure services, luxurious property investment, and social life engaging services in Dubai is oriented towards the aspirations of the rich.
Real Estate Boom
Another success factor for the UAE is the real estate sector or simply property market where wealthy expatra are likely to invest due to high end prices. Currently, some of the most lavish houses can be found in Dubai with Trendy high rise apartments in the Dubai Marina and luxurious villas on the Palm Jumeirah.
Real estate investments in the city displays diverse prospects with high rental returns and consistently escalating property value in the near future. It does this in a way that makes Dubai suitable for millionaire businesspeople who wish to invest in real estate.
Business Opportunities
The other important factor that makes Dubai attractive to entrepreneurs and business owners is its strategic accessibility and other business friendly factors. It is efficiently connected to provide access to the global markets in the Middle East, Asia and Africa besides acting as a business destination.
Taking this argument to the conclusion, one should notice that majority of millionaires coming to Dubai to start their business are those who invest considerable amount of money in creating jobs for the citizens and thus stimulating the economy.
Living in Dubai
In Dubai, residents are carried from luxurious pent house dwelling with private rooftop swimming pool to more homesetad dwellings in the out skirts of town. The living costs tend to differ from one place to the other, though most people who live in Dubai can enjoy the benefits of living in a city that has quality health care, education, and recreational services. It’s also famous for its diverse food culture, posh shopping complexes, and constantly awake nightlife.
It is now obvious why UK millionaires are being attracted to Dubai. Aside from being a tax haven, as well as a city that offers all the paraphernalia of decadent living and where real estate is a burgeoning industry, it is forecast to attract a new crop of nouveaux riches expatriates in search of vaster pastures. With continual expansion and diversification, Dubai will continue to attract international HNWI for investment purposes, as well as an enhanced lifestyle.