Indian families shift wealth to UAE in ‘unprecedented numbers

In “record numbers,” Indian families are moving their money to Dubai and some other UAE cities by establishing economic structures.

According to industry analysts, “intriguing aspects” including the loosening of firm management regulations, residence alternatives, and the marketing of golden visas are helping the Emirates draw a sizable number of Indian household headquarters.

“We witnessed a large increase in rich people and commercial families relocating to the UAE during the worldwide epidemic.

But what was once thought to be a probable knee-jerk answer to a worldwide shutdown appears to be a persistent phenomenon that is gaining strength rather than slowing down.

Since January 2020, considerable legislation that supports promoting a long-term residence in the UAE has been implemented in fast succession. Family-run enterprises and serious investors are moving to the UAE as a result of new restrictions. “Indian communities are moving to Dubai and the United Arab Emirates in record numbers, capitalizing on a long tradition of Indian representation in Dubai.

Since the two countries’ trade agreement was struck that year, India’s non-oil exporters to the UAE have seen double-digit development, increasing by 14% to $us$ 4.5 billion in June-August. Nearly 30 percent of all residents in the Emirates are of Indian descent, numbering over 3.5 million. Of the expanding quantity of greedy capitalists in India, the family office architecture is getting more and more popular, giving their wealth greater mobility than ever before.

“Historically, families from Europe and the United States controlled the family office market. The long-anticipated rise in India’s investment company industry is now materializing.

Celebrities, business owners, and top executives work to safeguard, preserve, and improve their fortunes.

According to the latest estimates, 200 of the 17,000 household offices across the country are now located in India.

Due to the high startup costs, exclusive single-family offices are often reserved for families with assets worth over 400 million rupees ($150 million).

Multi-family offices, which take after the concerns of numerous families, are an alternative for those with endowments between 500 million and 5 billion rupees.

Long-term golden visas and interconnectivity via airlines around the world out of Dubai, Abu Dhabi, and Khaimah are two of the UAE’s main draws, according to Apex Family Office clients.

According to the Q2 2022 Henley Responsible Individuals Report, the UAE would welcome an additional 4,000 wealthy individuals by the end of the previous year.

In addition, a significant influx of entrepreneurs from India was noted in the research. Indian individuals have been thinking about jurisdictional diversification in recent years, both from a commercial and personal wealth viewpoint.

The need for private wealth management by single detached businesses or multi-family offices has increased as a result of the current epidemic.

the abundance of local investible potential” in industries including production, agtech, financial, e-commerce, halo universe, and Web3, as well as in the fields of logistics and healthcare. We see several of our clientele turning the UAE into their permanent home. We are seeing a lot of the trend of organizations and their family offices moving around.

“The UAE has demonstrated its capacity to adhere to international banking norms. Customers find doing business in the Emirates to be amicable, effective, flexible, and pleasant.