Why Dubai Is Becoming the World's Preferred Destination for Millionaires?

 

Dubai is gradually becoming a global hub for wealth migration, long-term investment, and strategic business relocation. With over 130,500 resident millionaires as of 2025, including 237 centi-millionaires and 20 billionaires, Dubai’s rapid transformation is reshaping the global map of high-net-worth individual (HNWI) movement. 

According to Betterhomes’ 2025 report, the emirate’s millionaire population has grown by 98% in the past decade, with forecasts projecting it could double again by 2035. 

This rise reflects not only a shift in where wealth is located but also how it moves away from traditional hubs toward tax-efficient, opportunity-rich destinations like Dubai. 

A Global Shift in Wealth Migration 

In 2024 alone, 134,000 millionaires relocated globally - a number expected to increase to 142,000 in 2025. Even if just 5% of these individuals choose Dubai, it represents a capital influx of over US$7.1 billion. The numbers represent a structural shift in where global capital flows. 

Who Is Coming and Why? 

Dubai attracts a broad range of HNWIs: entrepreneurs, investors, and family office leaders. These aren’t just people seeking a tax break - they’re building businesses via company formation in the UAE, relocating teams, and planning long-term wealth strategies. 

New residents are arriving from regions like Vietnam, Southeast Asia, the UK, and the US, drawn by Dubai’s safety, connectivity, and investment-friendly policies. 

Why Dubai Appeals to Millionaires? 

A combination of zero income and capital gains tax, long-term Golden Visas, political stability, and strategic location make Dubai especially appealing. The UAE’s Golden Visa allows 10-year renewable residency for investors, offering legal certainty for individuals and families alike. 

Real estate plays a central role in this migration. In 2024, villa and townhouse sales hit US$14.5 billion, while Dubai again surpassed London and New York in the number of homes sold above US$10 million, a sign that this is not just a transit stop, but a permanent base for global wealth. 

Infrastructure, Connectivity, and Support Systems 

Dubai’s infrastructure continues to evolve, with smart city planning, international healthcare and schools, and world-class recreational offerings. Proximity to key markets (within an 8-hour flight radius) makes it ideal for business leaders building regional or global operations. 

Meanwhile, government initiatives like VARA (for virtual assets) and the broader UAE D33 economic vision ensure the ecosystem supports innovation, legal certainty, and global investment. 

Business Implications 

The migration of millionaires is also reshaping company formation and cross-border trade in the UAE. Many new residents are establishing tech startups, private equity funds, and family offices, further fueling Dubai’s innovation economy and real estate markets. 

Dive deeper into how this shift impacts business setup and investment strategy by reading the full blog post on our website. 

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