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Dubai Attracts Record Number Of Millionaires Due To Absence Of Taxes And Luxurious Lifestyle. Consulting Firm Predicts That 9,800 Rich Individuals Will Migrate To The United Arab Emirates In 2025, Solidifying Dubai As A Global Wealth Hub.
The news that Dubai attracts a record number of millionaires due to the absence of taxes confirms a global trend: the search for destinations that offer tax advantages and quality of life. In 2025, according to Henley & Partners’ estimate, the United Arab Emirates is expected to receive 9,800 new millionaires, more than any other country in the world.
This phenomenon is not limited to the absence of income tax. The city combines political stability, low crime rates, affordable luxury, and a dynamic business environment, attracting both traditional heirs and rising digital entrepreneurs.
Why Dubai Became The Preferred Destination For Millionaires
The city of 3.5 million inhabitants — with 90% expatriates — has become a reference for normalizing ostentation. Wealth consultants point out that, in Western countries, many rich individuals face tax pressure and social stigma, while in Dubai the accumulation of wealth is seen as something natural.
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In addition, the local government offers the 10-year “golden visa”, allowing investors and highly skilled professionals to settle without bureaucracy. This policy, combined with its strategic position as a hub between Europe and Asia, reinforces the city as a financial and logistical center.
The High-End Real Estate Boom
Another central factor is the luxury real estate market, which sets records year after year. In 2024, 435 residences above US$ 10 million were sold, surpassing New York and London combined, according to Knight Frank.
With iconic skyscrapers, artificial islands, and projects like “The Heart of Europe,” featuring floating resorts and chalets, Dubai has transformed into a playground for ultra-wealthy investors. For perspective, while in Monaco a US$ 100 million apartment is the market limit, in Dubai that amount can buy an entire building.
Advantages And Criticisms Of The Model
Among the advantages pointed out by experts are:
- Absence of taxes on income and capital gains.
- Flexible regulatory environment for starting businesses.
- Very low crime rates.
- Luxurious lifestyle, with access to brands, hotels, and unique experiences.
On the other hand, NGOs like Human Rights Watch point out the inequality between millionaires and low-income foreign workers, who make up a large part of the local workforce and face precarious conditions.
Global Impacts Of The Migration Of Fortunes
The exodus of millionaires has direct repercussions in other countries. The United Kingdom alone is expected to lose 16,500 rich individuals in 2025, according to Henley & Partners, while Dubai continues to expand its financial elite. The UAE government, pressured by international entities, has intensified measures against money laundering and improved cooperation with other countries, following criticism received in 2022.
The combination of tax exemption, stability, and luxury has transformed Dubai into the epicenter of global mobility for millionaires. The record expected for 2025 shows how the emirate redefines the concept of a financial and social paradise.
And you, do you believe that this movement of millionaires to Dubai could widen global inequalities or represents just a new natural configuration of the world economy? Leave your opinion in the comments.
Parabéns pra todos eles, se são milionários sem roubar ….como viver e onde viver é opcional e direito deles.
Trabalharam muito pra serem milionários merecem
Já mais vai acabar a desigualdade, pelo o contrário vai aumentar, a própria reportagem já está falando…