The World's Millionaires Are Immigrating to the United Arab Emirates

Here are seven reasons why.

Millionaire Migration Trends

Muhamamd Azhar measured the net inflows and outflows of millionaires among countries in 2024. The UAE tops the list for net inflow with 6,700 millionaires.

Why Millionaires Are Moving to the UAE

1. Low Taxes

Zero personal income tax: UAE has tax-free policy on personal income, capital gains, and inheritance

2. Low Crime

UAE has the second lowest crime rate in the world.

3. Luxury Lifestyle and Infrastructure

• The UAE, particularly Dubai, is a symbol of luxury living — high-end real estate, luxury cars, yachts, and designer shopping. They got it all.

• World-class amenities, from five-star hotels and beach clubs to private medical care and international schools, make it attractive for family life.

  

  Ferrari World in Abu Dhabi, UAE.

4. Lots of other Rich People to hang with

When you’re rich, sometimes you want to hang with other rich people. You want to do fun, fancy, expensive activities, but you need friends who can afford to do them with you.

5. Lots of other foreigners to hang with

The UAE’s population is overwhelmingly made up of foreign-born residents. As of recent estimates, as much as 90% of the population is foreign-born or expatriates.

6. Golden Visas

The UAE has recently implemented "Golden Visas" for investors, entrepreneurs, and highly skilled workers, offering long-term residency (up to 10 years).

7. Fleeing Economic Sanctions

• Millionaires from countries with political instability, economic sanctions, or heavy taxation (e.g., Russia, India, and parts of Europe) are flocking to the UAE as a safe haven.

• In recent years, the UAE has seen a surge in Russian millionaires due to sanctions after the Russia-Ukraine conflict.

  
  

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Did you know? 🧠

The UAE’s population is overwhelmingly made up of foreign-born residents. As of recent estimates:

• About 88-90% of the population is foreign-born or expatriates.

• Only 10-12% are UAE nationals (Emiratis).

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Why Millionaires Are Fleeing China

I’ve heard a bunch of rich, successful Silicon Valley thinkbois say that the thing that money really buys is freedom.

Naval said it best:

The reason you want wealth is because it buys you your freedom. So, you don’t have to wear a tie like a collar around your neck. So, you don’t have to wake up at 7:00 AM, and rush to work, and sit in commute traffic. So, you don’t have to waste away your entire life grinding all your productive hours away into a soulless job that doesn’t fulfill you.

So, the purpose of wealth is freedom. It’s nothing more than that. It’s not to buy fur coats, or drive Ferraris, or sail yachts, or jet around the world in your Gulfstream. That stuff gets really boring and really stupid, really fast. It’s really so that you are your own sovereign individual.

So, if you’re a millionaire living in China, an authoritarian state where you’re not allowed even to speak your mind, your first order of business if figuring out how to get tf out of there.

⚔️ Seems like one of the few good signs for Team America in Cold War 2.0.

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