An increasing number of India’s most successful business leaders, sports personalities, and startup founders are moving to Dubai, attracted by the emirate’s zero personal income tax, state-of-the-art infrastructure, and high-end lifestyle. With an increasing number of Indian millionaires leaving the country each year, Dubai has emerged as one of the top destinations for high-net-worth individuals (HNWIs), offering long-term residency and business-friendly policies.
The New Wave of Indian Expats
According to reports by Henley & Partners, around 4,300 Indian millionaires are expected to leave India in 2024, with Dubai being their preferred destination. The UAE has consistently ranked among the top recipients of migrating millionaires, surpassing traditional destinations like the UK, US, and Canada.
Sports Personalities Moving to Dubai
- Robin Uthappa (Former India Cricketer): The ex-Indian batsman moved to Dubai in 2022, citing better education and safety for his family. “We wanted a solid primary education for our kids and also safety—not just for children, but also for women,” he said in an interview with Khaleej Times. He also noted that Dubai’s proximity to global T20 leagues makes it an ideal base for his post-retirement career.
- Sania Mirza (Tennis Champion): Having settled in Dubai since 2010, Mirza describes it as her “second home.” Her move was influenced by security reasons, as her family preferred she not live in Pakistan after her marriage to cricketer Shoaib Malik. Dubai’s neutral, cosmopolitan environment provided the perfect alternative.
Business Leaders and Entrepreneurs Making the Move
Dubai is also luring some of India’s largest startup founders and investors, taking advantage of its pro-business environment and long-term residency programs.
- Kunal Shah (Founder, CRED) – Reportedly secured a UAE Golden Visa and moved operations to Dubai, drawn by its ease of doing business and tax-free income.
- Vijay Shekhar Sharma (Founder, Paytm) – Another prominent fintech leader who has obtained Dubai residency, following the trend of Indian business moguls expanding globally.
- Nischal Shetty & Siddharth Menon (WazirX Crypto Exchange Co-founders): Amid India’s 30% crypto tax and regulatory uncertainty, the two crypto entrepreneurs relocated to Dubai, where the regulatory framework is friendlier to blockchain innovations.
Why Are India’s Elite Moving to Dubai?
Experts point to a combination of factors fueling this celebrity migration to Dubai:
1. Zero Income Tax & Wealth Preservation
Dubai’s tax-free income policy is one of its main draws. Dubai levies no taxes on inheritance, capital gains, or personal income, in contrast to India, where the wealthiest earners pay 30–40% in income tax.
2. Business-Friendly Regulations & Startup Hub
Due to its advantageous location, lax regulations, and 100% foreign ownership laws, Dubai has become a popular destination for Indian businesspeople. Due to the UAE’s quick incorporation process—which takes days as opposed to weeks or months in India, many Indian entrepreneurs who are having difficulty with the country’s regulatory red tape are now starting their companies there.
3. Golden Visa & Long-Term Residency
The UAE government has strongly encouraged Indian professionals and HNWIs to relocate by providing 10-year Golden Visas. Investors, entrepreneurs, and skilled workers are permitted to settle in Dubai under this visa without having to renew it on a regular basis.
4. Luxury Lifestyle & High-Quality Living Standards
Dubai provides a world-class lifestyle, high-end healthcare, best international schools, and unparalleled security. This makes it a perfect destination for affluent individuals seeking a higher quality of life .Robin Uthappa praised Dubai’s safety, saying: “This city stands out in the world now… It was the best decision for my family.”
5. Real Estate Boom: Indians Are Top Foreign Buyers
The second reason Indians are investing in Dubai is the flourishing real estate industry of the city. Indians constituted 40% of all foreigners purchasing real estate in Dubai during 2022 alone, which added over ₹35,000 crore ($4.2 billion).
Due to its high rental yields and lack of property taxes, Dubai real estate is regarded by many as a reliable investment. With its high-rise apartments and Palm Jumeirah mansions, Dubai has become a second home for India’s ultra-rich.
A Growing Trend With No Signs of Slowing
With an estimated 8,000 HNWIs leaving India every year, Dubai’s appeal as a tax-free, secure, and business-friendly city continues to grow.
Economist Gautam Sen warned that India’s high taxation and increasing wealth scrutiny could accelerate this trend. “Most Indian millionaires who leave the country choose Dubai—about 70%,” he told Rediff News.
While India debates policies to retain its wealth creators, Dubai is rolling out the red carpet. With its tax advantages, global connectivity, and luxury offerings, it is becoming the preferred playground for India’s business moguls, sports icons, and entrepreneurs.
Also Read: Does US’s Gold Card trump over Dubai’s Golden Visa?
