From Mayfair To The Marina

In our previous article, we examined Italy’s flat tax regime and the country’s growing appeal as a destination for internationally mobile high-net-worth individuals following the abolition of the UK’s non-dom tax status. Yet for many, especially those seeking a lower touch, more commercially oriented environment, a different destination is dominating their shortlists: the United Arab Emirates.

Unlike Italy, the UAE does not rely on a preferential tax regime. Rather, it offers something altogether simpler – a complete absence of personal income, capital gains, wealth taxes and inheritance taxes. Combined with a highly international outlook, entrepreneurial infrastructure, and fast-growing financial services, Dubai and Abu Dhabi are positioning themselves not just as alternatives to London, but as centres of gravity in their own right. This shift has been further underscored by President Donald Trump’s recent visit, accompanied by some of Silicon Valley’s most prominent figures.

WEALTH IN MOTION: RECENT HIGH-PROFILE DEPARTURES

Recent months have seen a series of prominent relocations that reflect the shifting sentiment among the UK’s wealthiest residents.

Nassef Sawiris, Egypt’s richest man and co-owner of Aston Villa, announced his decision to relocate his family office to Abu Dhabi, citing “years of incompetence” by successive UK governments that culminated in the end of the non-dom regime and the withdrawal of trust protections for inheritance tax. “On April 7, if a bus hit me [then] my family is bankrupt,” he told the Financial Times, referring to the UK’s 40% inheritance tax and the illiquidity of his assets.

Richard Desmond, the media magnate behind the Daily Express and Daily Star, has also secured a UAE Golden Visa after purchasing property in Dubai. While Desmond continues to maintain a presence in London, his decision to establish a base in the Gulf was attributed to a more favourable climate – both literal and commercial – and a desire to diversify his asset base.

These moves reflect a broader trend: as the UK tightens its tax framework, the UAE offers predictability, neutrality, and ease of access.

TAX SIMPLICITY IN PRACTICE

The UAE does not impose income tax on individuals, nor does it levy capital gains tax, net wealth tax, or inheritance tax. For private clients, whose wealth derives from global investment portfolios or passive income streams, this is a significant attraction.

In June 2023, the UAE introduced a corporate income tax of 9% on business profits exceeding AED 375,000 (approximately £80,000) and from 1st January 2025 a Domestic Minimum Top-up Tax (DMTT) was introduced for multi-national enterprises (broadly, EUR750m global revenues to pay minimum effective tax rate of 15% in all countries where they operate) in a strategic step to show commitment to the OECD’s Two-Pilar Solution aimed at establishing a fair and transparent tax system.

The result is a clear tax environment with no need for complicated structuring to achieve what are, in essence, headline tax benefits.

IMMIGRATION FRAMEWORK: THE GOLDEN VISA ROUTE

The tax position is only one piece of the puzzle – residency, from an immigration as opposed to tax definition, should also be considered. The UAE’s Golden Visa programme offers multiple paths to obtaining a visa: investor, talent, entrepreneur etc. By way of example, one route is that of a ‘real estate investor,’ who makes a qualifying investment. Qualifying investments include:

• AED 1 million (approx. GBP 200,000) in real estate for a 5-year visa (age 55+)
• AED 2 million (approx. GBP 400,000) in real estate for a 10-year visa (any age)
• The option to qualify via off-plan purchases or loans from approved banks

Applicants are granted a six-month multiple-entry visa to complete the process, followed by biometric checks and the issuance of an Emirates ID. Importantly, there is no minimum stay requirement to maintain the visa, and it can be renewed indefinitely. Spouses and children can be included under the same investment. There is even a ‘one touch’ golden visa service to help simplify the process.

BEYOND TAX: QUALITY OF LIFE & STRATEGIC LOCATION

While taxation may headline the appeal, it is only part of the story. For many families relocating from the UK, the UAE’s non-financial attributes are equally compelling.

The UAE offers:

• A safe, stable, and business-oriented environment with low crime
• A strategic location, connecting Europe, Asia, and Africa within a four-to-eight-hour flight radius
• Excellent international schools delivering British, American, and IB curricula
• World-class healthcare, infrastructure, and transport
• A multicultural society with English widely spoken, and a lifestyle that blends cosmopolitan amenities with desert and coastal leisure

It’s not just about preserving wealth in the UAE – it is about creating a base for living well.

A NEW CENTRE FOR CAPITAL & COMMERCE

Dubai, in particular, has emerged as a leading centre for financial services, fintech, crypto, and commodities trading. The Dubai International Financial Centre (DIFC) and Abu Dhabi Global Market (ADGM) have attracted regional headquarters of major banks, hedge funds, and exchanges. Digital asset regulation, viewed by the industry as progressive and pragmatic, has helped Dubai attract some of the world’s largest crypto platforms, cementing its role as a future-facing financial hub.

These developments are reshaping the region’s economic narrative: from passive capital preservation to active global deployment, especially for entrepreneurs, venture capitalists, and family offices with a long investment horizon.

THE RISE OF UAE FAMILY OFFICES

These trends are reflected in the family office ecosystem. According to the DIFC, more than 200 new family offices were established in 2024, bringing the total to over 800.

The advantages include:

• Lower regulatory burden than Switzerland or Singapore
• Broader definitions of “family,” enabling greater structuring flexibility
• Access to both onshore and offshore legal frameworks
• Greater privacy thresholds and operational agility

HUNDLE’S PERSPECTIVE

At Hundle, we work with clients across all phases of their relocation and structuring journey, either directly, or in collaboration with our global intermediary network. Our role includes:

• Comparative jurisdictional and tax analysis
• Coordinating Golden Visa applications and investment requirements
• Establishing family offices or special purpose vehicles in DIFC or ADGM
• Integrating UAE structures within a global estate and tax framework

Whether clients are relocating partially or fully, our advisory lens remains holistic – balancing regulatory compliance, legal, tax, investment, lifestyle aspirations, and long-term governance.

NEXT TIME

While the UAE and Italy lead the headlines, they are not the only options. In the next article of this series, we will explore Cyprus, a jurisdiction with varied appeal across tax, mobility, and Mediterranean quality of life.