Why more wealth is leaving the UK and landing in the UAE

A quiet transformation is reshaping the global wealth map. High net-worth individuals are moving their assets from the UK to the UAE. The Revolut co-founder Nikolai Stronsky's recent change of tax residency from the UK to the UAE reflects a much broader trend. Higher taxes, the end of the UK’s non-dom regime, and general regulatory uncertainty are pushing wealthy people to look for stability, predictability and a global lifestyle. In contrast, the UAE is offering zero income tax, long-term residency, world-class infrastructure and an easy environment in which to do business. In this episode of Business Extra, host Salim Essaid explores what’s behind the growing exodus of capital and talent from the UK and why the UAE is increasingly emerging as the destination of choice for wealth migration. He speaks to Philippe Amarante, managing partner at Henley & Partners Middle East, on the sidelines of the Abu Dhabi Investment Forum in London. He breaks down what is causing the UK to lose more millionaires and what wealthy people are really looking for when deciding where to base their lives and capital. Then, we hear from Khalifa AlMahmoud, director of investor attraction at the Abu Dhabi Investment Office. He outlines why the emirate’s mix of tax benefits, education opportunities and global accessibility makes it a long-term contender for global private capital.

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