6,700 Millionaires Relocated to the UAE in 2024 – What’s Fueling the Shift?

Amie Roberts • July 1, 2025

Introduction: A New Global Wealth Hub 

In 2024, the UAE welcomed an estimated 6,700 new millionaires, with projections suggesting that number will rise in 2025. This wave of affluent individuals isn’t just boosting property sales—it’s transforming the Emirates into one of the world’s leading wealth destinations. 

For business owners and professionals looking for growth, security, and tax advantages, this trend is more than a headline—it’s a roadmap. 

Why Are Millionaires Choosing the UAE? 
High-net-worth individuals (HNWIs) are drawn to the UAE for several key reasons: 
  • No income tax, capital gains tax, or inheritance tax 
  • Golden Visa programmes offering long-term, flexible residency 
  • Stable political and economic environment 
  • Strategic location—ideal for global business and travel 
Strong infrastructure—from luxury property to global-standard healthcare and education 

In a world where fiscal scrutiny is tightening, the UAE offers a rare combination: financial freedom and lifestyle appeal. 

Where Are They Coming From? 
The UAE is attracting millionaires from a range of countries, including: 
  • The UK and Western Europe 
  • Russia and the CIS region 
  • India, Pakistan, and other parts of South Asia 
  • Sub-Saharan Africa 
  • North America, especially those seeking secondary residence options 
This diverse group reflects a global desire for geographic diversification, asset protection, and new opportunities in low-tax jurisdictions. 

Where Are They Settling? 
The most popular destinations within the UAE for relocating millionaires include: 
  • Dubai – Specifically Palm Jumeirah, Downtown, Dubai Hills Estate, and Emirates Hills 
  • Abu Dhabi – Saadiyat Island, Al Reem Island, and Yas Island 
  • Sharjah and Ras Al Khaimah – Emerging as alternatives offering lower costs and strong ROI 
These areas are attractive for both residential living and investment, offering freehold ownership, security, and easy access to international airports and business hubs. 

What’s Driving the Investment? 
Many of these millionaires are not just moving for lifestyle reasons—they’re also investing. Key trends include: 
  • Luxury property acquisition as a store of value 
  • Business relocation or the opening of new ventures in the UAE 
  • Family offices being established in Dubai and Abu Dhabi 
  • Investment in startups, tech, crypto and sustainable industries 
The UAE’s ease of doing business, absence of restrictions on foreign ownership, and progressive visa policies make it a natural choice for wealthy individuals looking to combine personal and commercial goals. 

What It Means for Existing Businesses 
The influx of high-net-worth residents creates demand for: 
  • Private banking and wealth advisory services 
  • Luxury goods and concierge offerings 
  • Education and healthcare at premium levels 
  • Custom property development and management 
  • Corporate services like tax structuring, trust setup, and business formation 
If you're already operating in one of these sectors—or considering a UAE expansion—this migration wave offers a ready-made audience of affluent, mobile, and motivated clients. 

Conclusion: A Defining Moment for the UAE 

With 6,700 new millionaires choosing the Emirates in just one year, the UAE has moved from regional powerhouse to global wealth destination. For those looking to move a business, establish a base, or simply secure long-term residency, the message is clear: 

Follow the capital. It’s heading to the UAE. 

At Mosaic Chambers Group, we support clients across borders—not only in the UAE, but around the world. With hubs in both Dubai and the UK, our relocation and corporate services extend globally, making us the trusted partner for businesses serious about long-term growth. Get in touch below to find out more. 

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By Amie Roberts February 18, 2026
Navigating the UAE Employment Visa Process in 2026 Relocating to the United Arab Emirates for employment offers significant professional and financial opportunities. However, the UAE employment visa process is structured, compliance-driven and time sensitive. Understanding each stage in advance avoids unnecessary delays and protects both employer and employee from regulatory issues. Below is a comprehensive, easy-to-follow guide to the UAE employment visa process as it stands in 2026. Step 1: Securing a Confirmed Job Offer The UAE employment visa process begins with a formal job offer from a UAE-licensed entity. Only an employer registered with the relevant mainland authority or free zone authority can sponsor an employee. The employer becomes the visa sponsor and assumes legal responsibility for: Applying for the work permit Processing the residence visa Ensuring compliance with UAE labour law Covering government application fees (in most cases) Employees cannot independently apply for a standard employment visa without sponsorship. Step 2: Work Permit Application (Entry Permit Approval) Once the employment contract is signed, the employer applies for a work permit (also known as a labour approval) through the Ministry of Human Resources and Emiratisation (MOHRE) or the relevant free zone authority. Documents typically required include: Passport copy (valid for at least six months) Passport-size photographs Signed employment contract Attested educational certificates (if required for the role) If the employee is outside the UAE, an entry permit is issued, allowing them to enter the country legally for employment purposes. If the employee is already inside the UAE on a visit visa, status adjustment procedures apply. Step 3: Entry to the UAE (If Applying From Abroad) For applicants outside the UAE, the entry permit allows legal entry into the country. Once inside the UAE, the individual must complete the residency formalities within the validity period of the entry permit (usually 60 days). Timing is critical at this stage. Failure to complete the process within the permitted window may result in fines. Step 4: Medical Fitness Test All employment visa applicants must undergo a mandatory medical examination at an approved UAE medical centre. The test typically screens for: HIV Tuberculosis Hepatitis (in certain categories) The medical fitness certificate is a mandatory component of the residence visa application. Processing time: usually 24–72 hours depending on service speed selected. Step 5: Emirates ID Biometrics The applicant must apply for an Emirates ID, which serves as the UAE’s official identification card. This process includes: Biometric data capture (fingerprints and photograph) Identity verification The Emirates ID is linked directly to the residence visa and is essential for: Opening bank accounts Renting property Obtaining a driving licence Accessing utilities and telecom services Step 6: Residence Visa Stamping Following medical clearance and Emirates ID application, the residence visa is issued and stamped electronically against the passport record. Employment residence visas are typically valid for: 2 years (mainland companies) 2–3 years (depending on free zone authority) Once issued, the employee is legally resident in the UAE and may sponsor eligible dependants (subject to salary thresholds). Key Considerations in 2026 1. Free Zone vs Mainland Sponsorship Visa procedures differ slightly between mainland entities and free zone authorities. Free zones operate under independent regulatory frameworks, although federal immigration approval remains central. The choice between mainland and free zone employment has broader implications, including: Corporate structuring Tax residency status Social security considerations Family sponsorship options These should be assessed before finalising relocation plans. 2. Employment Visa vs Other UAE Visa Categories The UAE also offers: Green Visas (for skilled professionals and freelancers) Golden Visas (long-term residence for investors and high earners) Investor/Partner Visas For entrepreneurs and senior executives, an employment visa is not always the optimal route. Strategic structuring may offer longer validity and greater flexibility. 3. Tax Residency Implications The UAE does not levy personal income tax. However, relocating professionals must consider: Exit tax implications in their home country UK Statutory Residence Test (for British nationals) Split-year treatment Ongoing ties and centre-of-vital-interests rules Corporate tax exposure for business owners Inadequate pre-departure planning can result in unintended dual tax exposure. 4. Corporate Tax and Employment Structuring With the introduction of UAE Corporate Tax, business owners relocating to the UAE must assess: Whether they will remain directors of overseas entities Permanent establishment risks Substance requirements Intercompany arrangements Employment structuring must align with the broader corporate and tax strategy. Why a Structured Relocation Approach Matters Many professionals treat the employment visa as a simple administrative formality. In practice, it forms part of a much larger relocation framework that includes: Tax residency planning Wealth structuring Asset protection Banking arrangements Property acquisition Family visa coordination A piecemeal approach often creates long-term complications. How Mosaic Chambers Group Supports Your Move to the UAE At Mosaic Chambers Group, we provide integrated advisory services for internationally mobile individuals and entrepreneurs. We coordinate: Pre-departure UK tax planning UAE tax structuring advice Cross-border compliance Local regulatory compliance We work alongside trusted UAE-based partners to manage: Visa processing Company formation Corporate structuring analysis Family sponsorship applications Wealth protection strategies Relocating to the UAE should be strategic, compliant and financially efficient - not reactive. Speak to Our Advisory Team If you are considering accepting a UAE job offer or relocating your business operations to the Emirates, we recommend obtaining professional tax and structuring advice before finalising your move. Early planning protects your position, reduces risk and ensures your move to the UAE is commercially sound and fully compliant. Get in touch with our team today to begin your relocation strategy with clarity and confidence.
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