Since the introduction of the Golden Visa in May 2019, over 100,000 individuals have been granted these long-term residency permits. In 2023 alone, Dubai’s General Directorate of Residency and Foreigners Affairs (GDRFA) issued 158,000 Golden Visas, more than double the number issued in 2022
Dubai has solidified its status as a top destination for wealthy Indians, with the allure of the UAE’s Golden Visa driving a significant migration trend. According to recent reports, the UAE, particularly Dubai, has outpaced global cities like New York and Paris, becoming a prime location for affluent expatriates.
A recent study by Henley & Partners, an international investment migration advisory firm, highlights that the UAE is now the most preferred destination for ultra-wealthy individuals, with an estimated 4,300 millionaires expected to leave India in 2024. A significant portion of these individuals are expected to choose Dubai as their new home.
But what makes Dubai so appealing to India’s rich? Beyond its famous skyline and luxury lifestyle, Dubai offers a thriving business environment, world-class infrastructure, and an exceptional quality of life. As Manoj Dharmani, CEO of DUDigital Global, points out, “Dubai offers a high standard of living, world-class infrastructure, and a diverse range of leisure and entertainment options.” These factors make Dubai not just a vacation hotspot, but a desirable location for permanent relocation.
The UAE’s Golden Visa program also compares favorably with other countries’ residency programs. It offers significant tax advantages, a wide range of investment options, and a faster application process, making it a more attractive option than similar programs like the US EB-5 visa
Safety is another significant draw. Dubai is recognized for its low crime rates and political stability, providing a secure environment for wealthy families. This, coupled with the UAE’s Golden Visa, has made the city particularly attractive.
The Golden Visa: A Key Attraction
Introduced in 2019, the UAE’s Golden Visa has been a game-changer. This long-term residency program offers visas ranging from 5 to 10 years without requiring a local sponsor, and it’s automatically renewable. The visa also allows for 100% business ownership, family sponsorship, and the ability to sponsor domestic workers. Moreover, visa holders enjoy ease of travel and professional freedom, making it a highly flexible option.
The Golden Visa isn’t just for the ultra-rich. Eligibility spans a broad spectrum, including doctors, scientists, creative professionals, executive directors, investors, and entrepreneurs. This inclusivity has broadened the appeal of Dubai as a destination for a diverse range of professionals.
A Magnet for Indian Entrepreneurs
Dubai has also become a significant hub for Indian startups. Over 30% of Dubai’s startup community consists of Indian nationals, drawn by the city’s supportive business environment and numerous incentives. This vibrant entrepreneurial landscape, coupled with strong cultural ties between India and the UAE, has further fueled the trend of wealthy Indians relocating to Dubai.
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