The United Arab Emirates (UAE) is rapidly becoming a premier destination for high-net-worth individuals (HNWIs) and their businesses. Driven by favorable tax policies, robust infrastructure, and a stable economic environment, the UAE has seen a significant influx of billionaires, particularly from the UK, boosting its global competitiveness and solidifying its position as a leading financial hub.
UAE Emerges As A Global Magnet For Wealth
The UAE has cemented its status as a top destination for global wealth migration, with an estimated 9,800 millionaires expected to relocate there in 2025. This surge is attributed to several key factors:
- Regulatory Reforms: The UAE has implemented progressive policies, including the introduction of long-term Golden Visas and allowing 100% foreign ownership in mainland companies.
- Favorable Tax Policies: The country boasts a zero-income tax regime, no capital gains tax, and no wealth or inheritance tax, making it highly attractive for wealth preservation and accumulation.
- Superior Infrastructure: Cities like Dubai and Abu Dhabi offer world-class facilities, smart city technology, and advanced connectivity, supporting both personal and professional aspirations.
- Safety and Stability: Consistently ranking high in global safety indexes, the UAE provides a secure environment with low crime rates and political stability.
Billionaires Flock To The Emirates
Several prominent billionaires have recently moved their operations or primary residences to the UAE, signaling a broader trend of wealth exodus from other nations, notably the UK. Key figures include:
- John Fredriksen: The Norwegian-born shipping magnate and former UK’s ninth-richest individual relocated significant business operations from London to the UAE, citing the UK’s decision to scrap its "non-dom" tax regime.
- Michael Edward Platt: The British billionaire hedge fund manager and co-founder of BlueCrest Capital Management moved his primary residence and family office to the UAE in June 2025.
- Shravin Bharti Mittal: The founder of Unbound and Managing Director of Bharti Global Ltd registered a new Abu Dhabi branch of Unbound in April 2025, amidst increasingly stringent tax reforms in the UK.
- Pavel Durov: The Russian technology entrepreneur and founder of Telegram has been based in Dubai since 2017, where the company’s global headquarters are also located.
- Nassef Sawiris: The Egyptian billionaire relocated his family office, NNS Group, to the Abu Dhabi Global Market (ADGM) in late 2023.
UAE’s Rising Global Competitiveness
The UAE’s strategic initiatives and economic diversification efforts have significantly boosted its global competitiveness. The nation climbed to fifth place in the IMD World Competitiveness Ranking in 2025, a notable jump from seventh in 2024. This achievement reflects:
- Visionary Leadership: Proactive government policies and a commitment to shaping the future.
- Innovation and Entrepreneurship: A thriving ecosystem supported by incubators, accelerators, and initiatives like the Future 100 program.
- Economic Diversification: Non-oil sectors now account for the majority of the national GDP, with strong growth in logistics, finance, tourism, advanced manufacturing, and digital services.
- Sustainability Commitment: The UAE aims for net-zero emissions by 2050 and has launched a national circular economy policy.
Strategic Shift For The Wealthy
The migration of HNWIs to the UAE is a strategic move driven by the country’s attractive economic environment. The UAE dirham’s peg to the U.S. dollar provides currency stability, and its robust banking systems and wealth management services cater specifically to the ultra-rich. This combination of factors positions the UAE as a leading hub for family offices, private equity funds, and trusts, ensuring long-term growth and security for global wealth.
Sources
- Five billionaires who moved to the UAE: John Fredriksen is the latest, Gulf News.
- High-Net-Worth Business Owners Are Migrating From The U.K. To The UAE, Forbes.
- UAE’s stunning rise in global competitiveness explained at Growth and Investment Forum, Gulf News.
- Norwegian-born billionaire John Fredriksen moves business to the UAE, Gulf News.
- What Business Leaders Should Consider Before Relocating To The UAE, Forbes.
