The Assets Advisors

Why High Net-Worth Individuals are Moving to Dubai

  • Fawzi Hamze
  • 05/5/23

Dubai is a major city located in the United Arab Emirates. It’s known for its thriving nightlife scene and modern architecture. The city draws plenty of tourists, and many well-off individuals are investing in Palm Jumeirah luxury homes. Some people wonder why Dubai is attracting so many wealthy individuals. Below you’ll learn about a few of the top reasons why Dubai is such a popular destination.

Tax-friendly environment

Dubai is well-known for having a low tax rate. Dubai individuals aren’t required to pay personal income or capital gains taxes. You’ll stretch your money further since you won’t have to worry about paying taxes at the same rate. Dubai is not completely tax-free, but many individuals can enjoy a primarily tax-free life in one of the most developed cities in the world. One of the greatest factors they have to thank is the success of the oil industry, which continues to be one of Dubai’s main exports.

Strong economy

Dubai has a robust economy with several prominent industries, including tourism, real estate, and financial services. Dubai is also a regional trade hub and the home of one of the busiest real estate markets in the entire world. People with a high net worth will have plenty of worthwhile investment opportunities to consider as they look for ways to diversify their portfolios and increase their wealth.

Luxurious lifestyle

Dubai offers plenty of high-end shopping and dining opportunities, excellent entertainment, and luxurious homes. Many of the gated neighborhoods have high-end amenities that all residents can enjoy. You’ll find some of the most expensive homes in the world behind these gates. Locals and tourists alike can enjoy the many fine spas and golf courses in the area. They also take advantage of the growing arts and culture scene by enjoying attractions such as the Burj Khalifa and Ski Dubai.

Political stability

Dubai is a politically stable country, which is essential for investors who don’t want to worry about how economic changes could impact their investments. The political system in the United Arab Emirates presents a low level of risk. The government is typically stable and efficient, providing high service levels to citizens without much corruption.

Favorable business environment

Dubai’s government has put a number of initiatives in place that are favorable for both domestic and foreign businesses. Investors can enjoy a variety of incentives that allow their businesses to thrive and succeed. Businesses save money by spending less on taxes. Dubai also contains several free zones where businesses can continue to take advantage of various tax and customs exemptions while maintaining 100% foreign operations.

Strategic location

Dubai is a hub for international business thanks in part to its location. Its position between Asia, Europe, and Africa makes it an ideal nexus for worldwide trade. Its proximity to the Persian Gulf makes shipping more feasible, and Port Rashid and Jebel Ali are two of the busiest ports in the world. Dubai National Airport serves as a hub for several regional airlines and takes passengers to destinations throughout the globe.

High standard of living

Dubai residents enjoy a strong healthcare system, positive infrastructure, and highly-rated educational systems. The standard of living in Dubai is much higher than what you would experience in many other locations throughout the world. In addition to the excellent public transportation, Dubai is an easy city to drive around. The low unemployment rate is a reflection of the overall health and stability of the economy. Dubai residents enjoy a wide number of entertainment options, including beaches, parks, sporting events, and plenty of excellent shopping malls. There’s always something new and exciting to do in town.

Variety of home locations

Want to live on the beach? Dubai offers that opportunity. Prefer a luxury apartment or a villa? You can find that, too. Dubai offers a number of home locations for investors to choose from that match their desired preferences and lifestyle. Palm Jumeirah is a nearby artificial island known for its high-rise apartment buildings and its luxurious hotels. It looks like a palm tree from above, which is where it gets its name. If you prefer villas or townhouses, you’ll be better off shopping for homes in The Springs or Arabian Ranches. Some of the area’s most popular gated communities are The Lakes and The Meadows. These neighborhoods have a more suburban vibe and shared amenities like parks and playgrounds.

Strong legal system

Dubai’s legal system works hard to protect foreign investors and ensure that their property rights are enforced. The legal system in Dubai is influenced by the civil law system and Sharia laws. The goal of these principles is to support the country’s stability and well-being. Most people consider Dubai’s legal system fair and efficient, with an extra emphasis on protecting the rights of individuals and businesses.

Quality public transportation

It’s easy for professionals to get around town thanks to Dubai’s excellent public transportation system. The self-driving metro system connects all major city areas, making it easy for you to access all of the best Palm Jumeirah activities. The tram is also driverless and connects areas such as the Jumeirah Beach Residence and Al Sufouh. They can also travel throughout the region (and the world) with ease from Dubai’s International Airport.

The Assets Advisors can help you invest in Dubai real estate

Once you understand what’s bringing so many people to Dubai, you might start considering a move to the area yourself. When that time comes, reach out to Fawzi Hamze and The Assets Advisors real estate team. They specialize in Palm Jumeirah luxury homes, and they work with high net-worth individuals on a regular basis. They would love to help you find a home in Dubai that meets your needs and enhances your life. They can also answer any additional questions you have about living in Dubai.

Work With Fawzi

As your real estate agent, Fawzi Hamze is committed to making the home buying and selling process as smooth as possible. He will listen to your needs and criteria in finding you your “Dream House” and will be dedicated to keeping you informed throughout each step.

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