Why UK Financial Titans Like Michael Platt Are Relocating Their Business to the UAE
Amie Roberts • July 10, 2025
Financial Heavyweights Leave London
Billionaire hedge-fund veteran Michael Platt of BlueCrest recently moved to the UAE, highlighting a growing trend among UK financial leaders establishing a base in Dubai. This shift underscores the UAE’s appeal as a tax-efficient
global finance centre.
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Who Is Michael Platt – and Why It Matters
Michael Platt, co‑founder of BlueCrest, ranks among Britain’s wealthiest, with an estimated £12.5 billion fortune. His move from Geneva to Jersey – and now the UAE – signals more than personal preference; it marks a clever shift of global finance towards the Gulf.
UAE’s Appeal: Tax, Time Zone, Legal Clarity
- Zero income tax and no capital gains or inheritance tax are core draws.
- Favourable time zone bridges Asia, Europe, and North America.
- English-based common law in financial centres like Dubai and Abu Dhabi offers familiarity and investor confidence.
- Direct access to sovereign wealth and HNWIs in a growing financial ecosystem.
A New Financial Era in Dubai & Abu Dhabi
Since 2022, BlueCrest Dubai has expanded to include trading desks and asset managers. Other notable financial operators like Brevan Howard and TCI have also set up shop . With 46,000+ professionals working in DIFC, the UAE is rapidly becoming a global financial hub.
What This Means for Your Business
- You can set up regional headquarters in a tax-neutral environment.
- Access to experienced finance professionals and legal talent.
- Enhanced capital-raising opportunities within the region.
- Better risk control and succession planning via UAE jurisdiction.
Practical Tips for Financial Firms
- Choose the right structure—DIFC, ADGM, or UAE mainland.
- Understand regulatory frameworks and licensing requirements.
- Leverage the UAE’s double tax treaties, plus zero tax for foreign-sourced income.
- Plan for residence/tax status for key executives (like Golden Visas).
- Create systems for back-office operations and regulatory compliance.
Conclusion: Dubai’s Place in Global Finance
Michael Platt’s move signifies a deeper shift. The UAE isn’t just a pleasant destination; it offers structural, regulatory, and fiscal advantages for global financial leaders. If you're considering relocating
your business, the UAE deserves your full attention.
Ready to make the move?
Download our expert Relocation Guide
for insider insights on moving abroad, managing your wealth, and planning your tax strategy.
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In 2024, the UAE welcomed an estimated 6,700 new millionaires, according to real estate and wealth intelligence sources. These figures are expected to climb even higher in 2025. But this isn’t just a headline; it reflects a deep shift in how high-net-worth individuals (HNWIs) think about residency, taxation, and security in a changing world. Who’s Moving to the UAE? The UAE is attracting an increasingly diverse profile of HNWIs: Tech founders from Europe and Asia Crypto investors and digital asset managers Family businesses from India, Pakistan, and Africa Wealthy retirees from the UK and Europe What unites them is a desire for tax-efficient living, political stability, and lifestyle quality. Why Are They Choosing the UAE? Zero income, inheritance, and capital gains tax High-end real estate ownership with 100% foreign ownership rights Fast-tracked long-term residency via the Golden Visa programme World-class schools, hospitals, shopping and safety Connectivity: 8-hour reach to over two-thirds of the world’s population Compared to tightening tax rules in Europe or instability in other regions, the UAE offers a compelling base. Real Estate: The Preferred Asset Dubai and Abu Dhabi’s property markets have responded accordingly: Surge in prime property sales in Palm Jumeirah, Downtown, Emirates Hills Growth in luxury rentals and branded residences Family offices acquiring real estate portfolios as wealth anchors UAE real estate is increasingly viewed not just as a lifestyle purchase, but a strategic asset. Visa and Tax Planning Benefits For global citizens, the UAE offers more than sunshine. It's become a core residency strategy in global tax plans . Families are using: UAE as a non-resident base while limiting exposure to UK or EU tax systems Structures like offshore holding companies, DIFC foundations, and trusts Second passport or dual-residency applications alongside UAE residence Conclusion: UAE as a Global Wealth Safe Harbour The relocation of 6,700 millionaires is no anomaly. It’s part of a global rebalancing, and the UAE is positioning itself as the clear beneficiary. For wealth advisers , lawyers and investors, the trend is clear: more clients are asking how to make the UAE part of their long-term plan. Ready to make the move? Download our expert Relocation Guide for insider insights on moving abroad, managing your wealth, and planning your tax strategy. Want tailored advice? Speak to one of our senior advisors today. We're here to help you relocate with confidence and clarity.
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. DOWNLOAD OUR FREE RELOCATION GUIDE