Dubai Global Hotspot for Millionaire Migration and Wealth Relocation

Dubai has become a global hotspot for millionaire migration, welcoming 130,500 millionaires and positioning itself as a hub for strategic, long-term wealth investment.

Dubai has changed from a luxury stopover to a global stronghold for high-net-worth individuals (HNWIs), anchoring long-term wealth and entrepreneurial ecosystems. With 130,500 resident millionaires in the UAE, including 237 centi-millionaires and 20 billionaires, the city has seen a 98 percent surge in its millionaire population over the past decade, according to Betterhomes’ 2025 report, Dubai: No Longer a Pit Stop, But the Finish Line for Global Wealth. Forecasts project that this population may double by 2035, further reinforcing Dubai’s stature as a premier destination for global capital.

The surge in millionaire migration is not merely demographic; it signals structural change in global capital flows. In 2024, over 134,000 millionaires with liquid assets exceeding US$1 million migrated globally. That figure is expected to rise to 142,000 in 2025. If just 5 percent of these new millionaires relocate to Dubai, the city would receive an estimated 7,100 new residents in a single year, bringing with them a capital influx of more than AED 26 billion (US$7.1 billion), a sum equivalent to nearly half of Dubai’s total foreign direct investment (FDI) in 2024.

Drivers of Dubai’s millionaire magnetism

Profile of new entrants: Strategic movers, not passive investors

The profile of Dubai’s new entrants further illustrates the city’s unique global pull. Many of the incoming millionaires are not merely passive investors, but entrepreneurs, family office leaders, and senior professionals looking to relocate operations or establish new enterprises. These individuals often bring with them substantial liquidity, teams of advisors, and future-forward investment portfolios.

Originating from diverse regions, Chinese business owners are driven by shifting domestic regulations to establish offshore holdings in Dubai. Vietnamese and Southeast Asian investors are diversifying against rising local uncertainties. Wealthy individuals from Argentina and Turkey are moving to Dubai to shield their capital from currency devaluation and economic volatility. Meanwhile, HNWIs from the UK and US increasingly view Dubai as a secure base for wealth preservation and multi-generational estate planning.

The table below provides a snapshot of global migration patterns:

This migration shift underscores the growing preference for wealth-friendly jurisdictions offering stability, opportunity, and quality of life.

Policy incentives and economic vision

Dubai’s appeal to HNWIs stems from a multifaceted value proposition. The city offers zero income tax, no capital gains tax, and long-term Golden Visas for real estate investors and entrepreneurs. These policies establish a legal framework for 10-year renewable residency for property owners investing a minimum of AED 2 million (US$550,000).

Beyond fiscal benefits, Dubai offers geopolitical and economic stability, world-class infrastructure, and a business-friendly environment aligned with initiatives such as the Dubai Economic Agenda (D33). This vision seeks to double Dubai’s economy by 2030 and place the emirate among the top three global cities for investment and talent. In parallel, the UAE’s GDP growth outlook, projected at 4 percent in 2025 and 5 percent in 2026 by International Monetary Fund (IMF), reflects long-term economic resilience with inflation expected to hold steady at 2 percent.

Global uncertainties are pushing capital out of traditional wealth centers. Chinese entrepreneurs are responding to policy tightening by setting up offshore holdings in Dubai. Vietnamese investors are seeking diversification. Turkish and Argentinian wealth are escaping currency depreciation, while UK and US residents are increasingly turning to Dubai as a reliable base for capital preservation.

Real estate as an investment anchor

Dubai’s luxury real estate market is no longer defined by speculative cycles. Instead, it is a strategic asset class, attracting institutional buyers, family offices, and legacy investors. In 2023, the Dubai Land Department recorded over 1.6 million real estate transactions worth US$173 billion, a 20 percent increase over 2022. The value of investments rose 55 percent year-on-year to reach US$112 billion. Notably, 42 percent of new investors were non-residents.

In 2024, sales of villas and townhouses reached US$14.5 billion, a 50 percent increase year-on-year. Iconic neighborhoods such as Palm Jumeirah and Emirates Hills led the way, with property values of US$381 million and US$353.9 million, respectively. Dubai has also led the global market in home sales above US$10 million for two consecutive years, surpassing London and New York.

Infrastructure, connectivity, and quality of life

Dubai’s geographic positioning as a tri-continental hub is a logistical advantage. With direct access to markets across Europe, Asia, and Africa, Dubai is within an eight-hour flight from financial centers like London, Mumbai, and Singapore. This has been reinforced through aviation links via Emirates and Etihad, as well as maritime logistics through Port Jebel Ali, one of the world’s 12 largest ports.

Dubai claims ultra-modern healthcare systems, international schools, luxury retail, and entertainment that matches or exceeds global standards. It has ranked among the world’s safest cities, with Abu Dhabi topping global safety indices.

Smart infrastructure investments are enhancing urban livability. Projects aligned with Dubai Vision 2040 and the Smart Dubai initiative include green building standards, digital governance, and high-speed connectivity, catering to a digitally native, globally mobile investor class.

Migration facilitation and legal infrastructure

The influx of HNWIs is supported by professional services and real estate consultancies, which provide end-to-end solutions, ranging from residency applications to asset management.

Dubai is able to present tailored offerings like access to branded villas, waterfront developments, and serviced residences in premium zones. The legal framework also permits 100 percent foreign ownership in most sectors under Federal Decree Law No. 26 of 2020, thereby enhancing investor confidence and reducing entry barriers.

Platforms such as the UAE’s Virtual Assets Regulatory Authority (VARA), established by Dubai Law No. 4 of 2022, are opening new avenues for wealth diversification, particularly in digital assets. These initiatives align with Dubai’s ambition to lead in emerging technologies, making it a first-mover jurisdiction for forward-looking investors.

Read more: Incentives for Doing Business in UAE

Implications for business and global trade

The surge in millionaire migration to Dubai is reshaping the business landscape. Capital inflows into real estate are driving demand for luxury construction, property management, and legal services. At the same time, new residents are founding family offices, investment funds, and tech ventures, contributing to ecosystem development.

On the macro level, Dubai’s position as a gateway for cross-border trade is being strengthened. For instance, the Comprehensive Economic Partnership Agreement (CEPA) with India, signed in 2022, aims to increase bilateral trade to US$100 billion by 2027. As more wealthy investors anchor their operations in Dubai, regional trade hubs are likely to expand further, offering export opportunities for service providers, fintech firms, and logistics players.

As Dubai transitions from a transient luxury haven to a permanent residence for the world’s wealthiest, it is redefining its global economic identity, not as a substitute for legacy cities, but as their successor in the next phase of wealth generation and preservation.

(US$1 = AED 3.67)

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