UAE Provides Unparalleled Opportunities for Entrepreneurs with a High Net Worth

In terms of investment potential, the United Arab Emirates is unrivaled. The United Arab Emirates (UAE) and Dubai, in particular, have experienced dramatic growth in highly wealthy people in recent years. Similarly, this has directly affected the number of businesses willing to invest in the city.

According to the latest data from New World Wealth, Dubai is the most prosperous city in the UAE. Aside from that, the United Arab Emirates (UAE) has the highest per capita income among MENA countries. Furthermore, Dubai ranks 23rd on the ECA’s cost-of-living index. It is forecasted that by 2026, the UAE’s financial wealth will have increased by a compound annual rate of 6.7% to a total of $1 trillion.

High inflation and an uncertain economic scenario drive millionaires out of the major industrialized economies. It leads to increased investor interest in GCC nations, especially the UAE.

Approximately 4,000 highly wealthy people are expected to come to the United Arab Emirates this year. This tremendous growth from 1,300 millionaires in 2019 demonstrates the UAE’s success in attracting private wealth, capital, and talent. Furthermore, UHNWIs (individuals with a net worth of $30 million or more) account for roughly 41% of the UAE’s total wealth and may account for 43% by 2026.

Why has there been such dramatic growth in the number of wealthy people and businesses choosing Dubai as their location for expansion and investment? Let’s dive deep into it.

For What Reasons Do the UAE Attract So Many Wealthy People?

1. A Rise in Prominence for the UAE

The United Arab Emirates (UAE) has rapidly adapted to changing immigration policies over the past several decades to capitalize on the growing tourism and trade industries there. Those with an eye on making a monetary investment often move abroad in search of better business opportunities and desirable living conditions.

The United Arab Emirates (UAE) leadership during the pandemic and its advocacy for the advantages of competitive tax rates have earned widespread notice around the world. HNWIs interested in investing in real estate and industry are increasingly drawn to regions with strong economic and social growth.

2. Economic Development and New Business Opportunities

Because of the current economic and corporate incentives established to stimulate Foreign Direct Investment (FDI), the United Arab Emirates has become a popular residential destination for the world’s high-net-worth people.

Investments in cutting-edge technology and environmentally responsible practices achieved a global high point at Expo 2020. However, the Ministry of Economy has implemented initiatives to entice the world’s finest entrepreneurs and investors, including a simple procedure for establishing a company and flexible commercial and residential leasing options. Capital, digital asset entrepreneurs, extraordinary skills, private wealth, and foreign investments are all drawn to progressive and competitive strategies.

According to a recent study, equity and investment fund growth is expected to average 8.8 percent each year through 2026. Compared to other world-famous metropolises like London, Tokyo, and New York, the United Arab Emirates is the only country that specifically caters to the ultra-wealthy.

3. The UAE Economic Incentives Efforts

More opportunities exist for high-net-worth individuals to immigrate to and invest in the United Arab Emirates because of the country’s business-friendly environment. There are more than 50 free zones in the UAE, and they all have strong linkages to regional and international trade organizations. It has free trade agreements with the European Union, Singapore, and the European Free Trade Association.

The United Arab Emirates (UAE) offers a more enticing environment for entrepreneurs, business owners, and independent workers because of its business-friendly environment and numerous options for HNWIs to relocate and invest. With the availability of these economic free zones, investors can take 100% ownership stakes in any of the more than 2,000 licensed commercial businesses in the free zones.

4. Favorable Legal Environment

The United Arab Emirates’ regulatory system has been upgraded regularly to attract more international trade and investment. However, the country made what may be its most significant move yet last year when it legalized the full foreign ownership of enterprises in various economic sectors. This change meant foreign investors no longer needed to find a local partner.

“Projects of the 50” also calls for ongoing reforms to the immigration and residence processes to attract skilled people in critical sectors like the health, scientific research, technology, and cultural industries.

5. UAE Emerges as a Business Hub

The United Arab Emirates (UAE) could serve as a Launchpad for expanding into other major global markets. Investors are enticed to establish a business there by the country’s adaptable economy, progressive administration, and many prospects.

The most common ways for millionaires to hold their wealth are in the form of business assets and investments, followed by stocks and real estate. Despite the United Arab Emirates (UAE) emphasis on the oil and gas industries, other markets present prospects for commercial investment.

Insurance and trade are two of the most popular financial industry sectors. Companies in the information technology sector specialize in app development, virtual reality (VR), artificial intelligence (AI), and digital marketing benefiting greatly from the increasing demand for these services.

High-net-worth individuals are drawn to the United Arab Emirates (UAE) to expand their tourism and hospitality ventures, such as opening luxury outlets, resorts, and hotels amid the country’s diverse tourist hotspot.

Increased Support for Visa Reforms

To encourage high-end projects and investments, the United Arab Emirates (UAE) has created new immigration laws and residency permits, making the country an ideal location for groundbreaking investment.

With the introduction of the golden visa in 2019, the government intended to attract wealthy foreign investors and individuals with high levels of personal wealth to establish long-term residency in the country. Those who qualify for the 10-year permanent residency scheme will automatically renew their status each year. Green visa holders can stay in the country with their families for five years without finding a sponsor. Those who wish to apply for a business visa can do so by founding a firm or investing in any of the Emirates.

To entice high-net-worth retirees and expats to invest and retire in the emirate, Dubai offers a retirement visa that grants the retiree and their spouse or dependents renewable permanent status in the country for five years.

The visa regulations have been altered in a mutually beneficial manner to encourage high-net-worth individuals to invest and eventually settle in a country. In addition, if you deposit at least AED 2 million in a UAE bank for a minimum of 3 years, you can get a Golden visa that will last you for 10 years.

The United Arab Emirates (UAE) adaptable strategy encourages investment mobility as high-net-worth individuals seek out investment and business opportunities for growth, travel flexibility, living standard, and wealth perseverance with legal protection.

Capitalize on the UAE with ExpressPRO

ExpressPRO’s business setup professionals can aid high-net-worth individuals in the United Arab Emirates in looking for opportunities. Our experts are well-versed in all facets of living and working in the UAE. Whether it’s rules and regulations, legislation, setting up a business, acquiring a visa, or exploring investment possibilities.

We can provide you with the knowledge you need to set up a business or make an investment choice. In addition, our professionals will personally take care of all the paperwork and other requirements, guaranteeing there will be no hiccups. We can provide custom business options to meet your specific requirements. Call us, and we’ll take care of everything for you.

Set up Your UAE Company with ExpressPRO

Please fill out the form below so our team can get in touch with you and guide you through the complete process.

Blog form

Top 5 Booming Industries to Launch Your Dubai Business Empire in 2024

March 21, 2024

Dubai. The City of Gold. A glittering metropolis that’s become synonymous with luxury, innovation, and sheer ambition. But beneath the towering Burj…

Why a Sharjah Trade License Might Be a Great Option for Your Startup Success?

January 2, 2024

Are you a budding entrepreneur looking to tap into the UAE market? Sharjah might be your golden ticket. Being the third-biggest emirate,…

Understanding the Core Factors Leading to Business Failures in Dubai

January 1, 2024

Dubai, the city of gold, is quickly becoming a hotbed for many international businesses and entrepreneurs, with many multinational giants from around…


Get Guaranteed AED 2,000

For Every Successful Referral Only With ExpressPRO

Mohsin Khan
Mohsin Khan
15:52 18 May 24
First of all thanks to Express PRO to have a man like Mr.Rohit I know he is giving me the right direction towards reaching my dreams. He is very professional, friendly, helpful and no matter how many... times I ask question they never failed to answer my concern and explained all the details that i need. I would strongly recommend their service if you want a better future here in Dubai. No words can explain how lucky I am to find a consultation company Expess Pro like this. All transaction were smooth and easy. Thank you again Mr.Rohit for all the help.They are truly knowledgeable, skilled and has empathy throughout the process. No doubt, the company’s success and the recommendations of their clients speaks for more
Sajjid Patel
Sajjid Patel
14:12 17 May 24
Rohit provided a very quick and efficient service to help us renew our company license. A big thanks to Rohit and the ExpressPro team for their thorough professionalism.
Muhammad sarfaraz uddin
Muhammad sarfaraz uddin
12:02 16 May 24
I recently contacted ExpressPRO to set up my business in Dubai and I couldn't be happier with their service. The entire process was smooth and efficient, thanks to their professional and... knowledgeable team. They guided me through every step, from company formation and trade license acquisition to opening a bank more
Plat E
Plat E
07:51 14 May 24
This is the first time we setup business in Dubai. The business setup was done smoothly. When we moved forward to the visa processing, initially the information given to us was not been communicated... correctly by another department. Hassan had demonstrated his professionalism to make the process done in proper manner. Despite some delays in the process, which were entirely outside of Hassan’s control, he managed to navigate these challenges with grace and persistence. He helps us to solve all the problems and ensure everything was in order, his efforts did not go unnoticed. We highly recommend him for his outstanding service and dedication to his clients. Thank you once again for your helps!read more
Oriane International
Oriane International
08:00 07 May 24
Prompt reply and coordination and excellent services by Irshad Ismail. He assisted very professionally and helped me to get my license on time.
07:55 24 Apr 24
I am very lucky to met you, Hassan. Throughout the entire application process, I encountered issues like my name being written in reverse order, even during the medical check-up, you were online to... answer my questions in real-time. You were attentive to my worries even on weekends and during the Ramadan period. When Dubai faced its first major flood in 75 years, I still received your immediate response. Your dedication is truly commendable.The process for obtaining residency in Dubai is now longer due to the increasing population influx. Fortunately, applying through ExpressPro has been a breeze - fast, efficient, professional, and with prompt responses that provide peace of mind. I highly recommend this company. Once again, thank you, Hassan. May Allah bless youread more
Mj Tolentino
Mj Tolentino
13:45 23 Apr 24
As for my experience with the Express Pro company, they were very prompt in sharing updates of what is happening and the progress of documents.Double thumbs up to Mr. Paul's assistance on making... things happen at the promised certain time. We made the right choice coming to you and Thank you for your support. All the best to Express more
Sheen Gurrib
Sheen Gurrib
10:02 22 Apr 24
I had such a smooth and quick experience. Hassan was so helpful, always keeping me updated and making sure it was done super fast! Strongly recommend!
Alessandro Nadalin (Alex)
Alessandro Nadalin (Alex)
13:06 08 Apr 24
Decided to process some of the visas in our family through them, they were extremely helpful and got everything done easily 🙂 I would gladly recommend Mahmoud Hafez, who we worked with
Erika Matullano
Erika Matullano
12:05 03 Apr 24
I recently had the pleasure of utilizing the exceptional services of ExpressPro for my business setup in Dubai, and I must say, it was an outstanding experience from start to finish.Professional and... Knowledgeable StaffI want to extend my heartfelt gratitude to Mr. Paul Pasumbal, whose exceptional patience and dedication made the entire process smooth and hassle-free. His prompt responses to all my queries, unwavering support, and expert guidance were truly commendable. His in-depth knowledge and willingness to go the extra mile exemplify the professionalism at ExpressPro.I also want to acknowledge Mr. Hassan and Ms. Girlie for their efficient handling of all my documents. Their expertise and attention to detail were instrumental in ensuring a seamless process.Efficient Business Setup and Legal demonstrated a remarkable level of efficiency and expertise in navigating the legal and administrative procedures related to business setup in the UAE. Mr. Hassan for emailing me all the forms needed for the processSeamless Company Formation ProcessThe entire team at ExpressPro, especially Paul Pasumbal, Girlie, and Hassan Ali, delivered nothing short of professionalism, helpfulness, and extensive knowledge throughout the company formation process. Their dedication and support were instrumental in making my entrepreneurial journey in Dubai a reality.Expert Advice and Exceptional SupportI cannot thank Mr. Paul Pasumbal enough for his unwavering commitment to addressing all my concerns and providing expert advice at every step of the company formation process. His wealth of knowledge and genuine willingness to assist made a significant difference in my experience with ExpressPro.In conclusion, I wholeheartedly recommend ExpressPro to anyone seeking business setup services in Dubai. Their exemplary team, led by individuals like Mr. Paul Pasumbal, Ms Girlie, and Mr. Hassan Ali, sets a benchmark for professionalism, expertise, and customer-centric approach. Thank you for making my entrepreneurial journey a seamless and gratifying more
13:02 19 Mar 24
very efficient and knowledgeable about procedure and how-to of the legal and administrations procedures in the UAE. Hassan and Rohit have provided me with excellent guidance for my company set-up and... employee legislation process. I clearly recommend them with no more
Umair Khalid
Umair Khalid
09:57 19 Mar 24
It’s been a good experience.
See All Reviews