Dubai vs. London: Why UK’s Wealthy Entrepreneurs Are Choosing the UAE

An Exclusive Conversation with Gayatri Pandey on Why Dubai Is Becoming the Preferred Destination for Business Leaders & High-Net-Worth Individuals.

The UK is among the top 10 countries home to the most billionaires in the world, ranking at number four as per the Hurun Global Rich List 2025 with 150 billionaires residing in the city of London. However, the country has been experiencing an exodus of the wealthy from the country as the political turmoil brings on increased taxation on worldwide assets.

According to the Henley Private Management report the UAE has been a popular destination for billionaires and millionaires alike. And it's not just a residential move, but also a business one, with many British companies relocating their headquarters to Dubai. Gayatri Pandey, General Manager at RadiantBiz Management Consultancy and our featured interviewee leads the global expansion efforts for businesses. Based out of RadiantBiz’s UK branch, she specializes in helping UK-based companies relocate and establish themselves in the UAE.

Our conversation focused on the reasons why the UAE has become the ideal destination for business relocations, as well as for millionaires and billionaires moving there.

The Global Shift: Why UK Entrepreneurs Are Moving to Dubai

The direct answer would attribute the exodus to changes in the UK tax regime, which have increased two key tax rates: capital gains and inheritance tax. Furthermore, the abolition of the non-domicile tax status, which allowed temporary UK residents to avoid tax on foreign income, has further aggravated the situation.

All of this has resulted in over 10,000 millionaires and 12 billionaires leaving the UK in 2024 alone. Meanwhile, Dubai attracted 6,700 millionaires in 2024, marking a 78% increase in the number of millionaires residing in the city over the past decade. Instead of solely blaming the exodus on the UK’s policy changes, Gayatri emphasized the appeal of the UAE’s tax advantages, highlighting the country’s 0% personal income tax, no inheritance or capital gains tax, and one of the lowest corporate tax rates at 9%, along with a VAT of just 5%.

Undoubtedly, the UK’s double-digit tax rates have given Dubai a clear advantage in offering a more business-friendly environment. Gayatri also mentioned that setting up and running a business in Dubai is more cost-effective, with free zone jurisdictions in the UAE offering company formation packages starting at just £1,184, inclusive of all setup requirements. Moreover, there are no restrictions on the repatriation of profits or transactions in multiple currencies.

But what about UK entrepreneurs choosing Dubai over London for business growth? To this, Gayatri elaborated on the UK’s economic decline, noting the ongoing uncertainties that have lingered post-Brexit. The UK's complicated relationship with the EU has limited businesses’ access to broader geographical markets. Additionally, being a mature economy, the UK lacks the lucrative opportunities that are often found in emerging and rapidly growing markets like the UAE.

Business Environment: London vs. Dubai

Looking into Dubai’s business environment, the setup process involves just five steps, all of which can be completed online without the need for a physical presence in the country. Although the UAE previously did not allow full foreign ownership of businesses, the law changed in 2021, now permitting 100% foreign ownership across almost all sectors, with no need for a local partner who would have previously owned 51% of the company shares.

Albeit the UK’s business setup process is relatively simple, it involves additional steps for regulated sectors with slower inspection procedures. Moreover, availing of banking services as a non-resident can be a significant hassle. An elected government also brings about significant regulatory changes, which can disrupt operations and require businesses to remain hypervigilant about laws and regulations, such as the recent increase in corporate tax to 25%.

We asked Gayatri for her insights on comparing the two business ecosystems in terms of ease of setup and long-term benefits. She responded by emphasizing the technological efficiency of the entire setup process in Dubai, where everything is digital. This also allows businesses to stay ahead of regulatory changes, as everything is managed online. Gayatri further stated, 'The stability that the monarchy brings to Dubai's business environment is irreplaceable, not only due to its long-term consistency but also because of its strong relations with neighboring countries.'

Additionally, she noted how Dubai is more reward-focused and is constantly incentivizing its business owners, whether through the Golden Visa, which offers a 10-year permanent residency, or business incubation programs that provide networking opportunities and funding.

Lifestyle, Residency, and Long-Term Growth Opportunities

But of course, it is not just the business environment fueling the millionaire and billionaire move. The lifestyle the city offers is very different from the UK, especially in terms of weather and climate. With Dubai enjoying sunshine year-round, the grey skies of London often dampen the mood.

Its geographical location not only brings great weather but also excellent global connectivity, allowing access to and connections with three continents: Asia, Europe, and Africa. In addition, it maintains safety and a low crime rate, ranking among the top 10 safest countries at number two, with a safety score of 84.5, just 0.2 points lower than the first country. Add the 10-year Golden Visa residency to all of this, and UK citizenship suddenly has an unbeatable competitor.

Gayatri explained the nine Golden Visa categories, which include investors, property owners, entrepreneurs, skilled professionals, talented individuals, humanitarian pioneers, scientists, and frontline heroes. These are all in line of the UAE’s incentivising approach as well as acknowledgement of various achievements.

The Future of Business Growth: Why Dubai Is the Place to Be in 2025

Besides, Dubai is on a fast track for growth as an emerging economy, unlike the UK, which is a mature economy, as mentioned earlier. The non-oil sector is projected to grow by 5% this year, with real GDP predicted to increase by 4.7% in 2025 and accelerate to 5.7% in 2026.

Furthermore, the UAE has been signing Comprehensive Economic Partnership Agreements (CEPAs) around the world, managing to capitalize on opportunities across all business sectors. We asked Gayatri which industry has the most growth potential, and she discussed the growth of the real estate sector following the Golden Visa initiative, as well as the impact of the Ukraine-Russia and Palestine-Israel conflicts, which led high-net-worth individuals (HNWIs) to flood into Dubai in search of a haven.

Moreover, she mentioned the growth potential of e-commerce, tourism & hospitality, and other sectors, emphasizing how the diverse population has created incredible business opportunities.

Overall, Dubai has taken all the necessary measures to create a nurturing environment for businesses and continues to attract millionaires and billionaires. Even though its business policies are competitive, its location and the certainty of its economic environment remain unbeatable.

On our parting note, we asked Gayatri for her advice for UK entrepreneurs considering a move to the UAE. She recommended conducting thorough research to understand the local requirements, market culture, and demographics. To obtain authentic and reliable insights, you can engage a business setup consultant in Dubai who will guide you in matching your business to the most suitable jurisdiction for your venture.

Better yet, why not get on-the-ground guidance from the UK team of RadiantBiz itself?

Contact us via mail at [email protected] or WhatsApp & call us at +44 7398 573313!

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