Why Millionaires Are Moving to Dubai: Tax-Free Living, Luxury Lifestyle, and Golden Visas

Dubai is rapidly becoming the world’s top destination for millionaires, surpassing traditional wealth capitals like London, New York, and Monaco.

According to Henley & Partners, the United Arab Emirates is expected to welcome nearly 9,800 millionaires in 2025, the highest inflow globally. Experts attribute this trend to Dubai’s zero income tax policy, political stability, and unmatched luxury lifestyle, which many wealthy individuals find increasingly difficult to maintain in the West.

The city’s rise as a global hub for high-net-worth individuals (HNWIs) is also fueled by its golden visa program, which offers long-term residency to investors and entrepreneurs. Dubai’s luxury real estate market, state-of-the-art infrastructure, and reputation for safety have further cemented its appeal.

Financial experts highlight that in contrast to Western countries—where rising taxes and social pressures have made wealth ownership more challenging—Dubai fosters a climate that openly celebrates success and prosperity.

Mike Coady, head of Skybound Wealth Management, noted that many clients view Dubai as a place where “success is not a liability,” unlike in their home countries.

With its booming economy, tax-free incentives, and reputation as a luxury hub, Dubai is steadily transforming into the new global capital of wealth.