The Henley Private Wealth Migration Report 2024, released today by international investment migration advisory firm Henley&Partners, shows that the United Arab Emirates (UAE) continues to take first place as the world’s leading wealth magnet for high-net-worth-individuals (HNWIs), with a record-breaking 6,700 affluent migrants the by the end of 2024.

There are a variety of factors driving Dubai’s attraction for global immigrants, such as high-quality real estates, investor-friendly framework, large-scale industrial advertisement, the United Arab Emirates Golden Residency Program or the UAE Golden Visa. In particular, there are five major reasons as follows:

1.  Strategic and economic resilience

As part of forward-looking economic initiatives, like Abu Dhabi Economic Vision 2030, Dubai Economic Agenda “D33”, the UAE is actively strengthening its position as a leading global financial hub by growing and diversifying its economy.

2. Leveraging its geographical advantages as a trade hub

As a major business and commercial hub between the East and the West, the UAE serves as crucial links to trade and investment worldwide by the Port of Jebel Ali and its two national airlines, particularly in collaboration with key markets such as India.

3.  Favourable tax and residency policies

Tax-free policies and golden visa schemes offer financial freedom and long-term residency for investors and top talents, thus attracting capital and talents around the globe.

4.  Family office hub

As a new global focus for family wealth management, Dubai becomes a magnet for global giants by actively developing its family office business.

5.  Prosperous real estate market

Dubai, well-known for its luxury properties and high-end projects, attracts a large number of investors around the globe. Its real estate market demonstrates strong growth potential as the transactions appear to be on a continuous upward trend.

In conclusion, Dubai emerges as a preferred destination for global HNWIs due to its resilient economy, tax incentives, thriving property market and high quality of life.

Notably, HKFA (Hong Kong Fiduciary Association Limited) has already established a presence in Dubai by offering HNWI clients in the Middle East and the rest of the world, professional Trust and financial advisory services to Middle East and global HNWI clients, helping them seize the investment opportunities in Dubai and realise their wealth appreciation. We welcome your inquiries.