At least 9,800 millionaires are expected to relocate to UAE in 2025

New Delhi [India], June 30 (ANI): The United Arab Emirates continues to solidify its reputation as a premier destination for the world's ultra-wealthy, driven by regulatory reforms, favourable tax policies, and long-term residency options such as the Golden Visa, as reported by the Gulf News.

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According to the latest Henley & Partners Private Wealth Migration Report, at least 9,800 millionaires are projected to move to the UAE in 2025 alone, underscoring the country's appeal to high-net-worth individuals seeking stability and strategic advantage.

Norwegian-born shipping tycoon John Fredriksen is among the several high-profile billionaires from around the globe who made the move to the UAE. Fredriksen, long based in the UK, has moved a significant part of his business operations from London to the UAE.

Once ranked the UK's ninth-richest individual, Fredriksen cited the British government's decision to scrap the long-standing "non-dom" tax regime as a major catalyst for his relocation. Known for building one of the world's largest oil tanker fleets, his move is seen as symbolic of a broader trend of wealth migration from Britain to the Gulf.

Additionally, Michael Edward Platt, British billionaire and hedge fund veteran, Michael Platt, co-founder of BlueCrest Capital Management, has also shifted his base to the UAE. The firm, once Europe's third-largest hedge fund, has managed assets exceeding USD 35 billion at its peak. In June 2025, Platt moved his primary residence and family office to Dubai, continuing a UAE expansion that began in 2022 following regulatory approval for BlueCrest's operations in the region.

Shravin Bharti Mittal, son of telecom magnate Sunil Bharti Mittal and Managing Director of Bharti Global Ltd, has also made a high-profile shift to Abu Dhabi. As the founder of Unbound, a global technology investment firm, Mittal represents the younger generation of India's Bharti family. In April 2025, he registered a new branch of Unbound in Abu Dhabi amidst tightening tax regimes in the UK. The Bharti family remains the largest individual shareholder in BT Group Plc.

Furthermore, Pavel Durov, the Telegram founder, has called Dubai home since 2017. After leaving Russia in 2014 due to political pressure, Durov and his brother established the encrypted messaging platform's global headquarters in the UAE. Now a UAE citizen, Durov was ranked the world's 120th richest person in 2024 and was previously named the richest expatriate in the UAE by Forbes. In 2023, Arabian Business hailed him as Dubai's most powerful entrepreneur.

Nassef Sawiris, Egypt's richest man, Nassef Sawiris, has also chosen the UAE as his financial base. In late 2023, his family office, NNS Group, relocated to the Abu Dhabi Global Market (ADGM). Sawiris controls a 30 per cent stake in OCI NV, a leading global fertiliser producer, and owns significant shares in Adidas and LafargeHolcim. His move reinforces Abu Dhabi's growing status as a global hub for elite wealth management.

According to the report of Gulf news, a combination of political stability, robust financial infrastructure, and investor-friendly climate continues to draw the world's most influential entrepreneurs and financiers to UAE. About 9,800 millionaires are expected to move to the UAE in 2025, from hedge fund moguls to tech innovators. Dubai and Abu Dhabi are rapidly becoming the new centres of global wealth and power. (ANI)

(The story has come from a syndicated feed and has not been edited by the Tribune Staff.)