Shumaila Aslam
Scandinavian News Agency
Bureau Chief Pakistan
Wealthy individuals are flocking to Dubai in record numbers, attracted by the city’s zero-income tax policy and luxury lifestyle that has become increasingly difficult to maintain elsewhere.
The United Arab Emirates, and particularly Dubai, have long welcomed affluent residents from neighboring countries. But according to sources, more Western millionaires are now joining the trend.
Advisory firm Henley & Partners estimates that the UAE will attract an unprecedented 9,800 millionaires this year—more than any other country worldwide.
The UAE has positioned itself as a magnet for the wealthy by offering economic and political stability, extremely low crime rates, a business-friendly environment, and seamless access to luxury. Its “Golden Visa” scheme further boosts appeal, providing wealthy or highly skilled foreigners with a 10-year residence permit.
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