Dubai and the UAE attract a lot of rich people and businesses worldwide because of tax benefits, a great business environment, and strategic appeal for those seeking success.

Oh, Dubai, the city of dreams where wealth flows like water and luxury is as common as sand. According to the World’s Wealthiest Cities Report 2023, Dubai is having a grand old time, lounging at a modest 20th position – because who needs to aim for number one?

Surprise, surprise, Indian millionaires are making a beeline for Dubai like it’s the hottest club in town. In 2022, 7,500 of them said their goodbyes to India, and now, another 6,500 are apparently packing their bags. Move over, India, Dubai and Singapore are the new playgrounds for the oh-so-rich. Because why deal with complicated tax laws when you can just relocate?

But wait, why Dubai, you ask? Well, blame it on India’s tax drama and those pesky outward remittance rules. Dubai is the new home for the expat elite, with Indians making up a quarter of the population. It’s practically the ‘fifth city of India’ – who needs loyalty to one place?

According to some fancy report, India’s ultra-rich are multiplying like rabbits, expected to surge by 58.4% in the next five years. Translation: Dubai, brace yourself for an influx of the elite and their mountain of wealth.

Why Dubai, you ponder? Misha Glenny spills the beans: zero taxes, top-notch infrastructure, more sun than you can handle, apartments cheaper than your morning coffee, and cultural attractions that even the elite need a GPS to find. Dubai, the oasis of opportunity for the tax-evading jet-setters – because who needs taxes when you can have gold-plated everything?