Eu millionaires search protected haven from populism

DYubai sells It fancies itself a haven for the rich elegance. It is a very simple position to do industry and has handy flight connections to nearly all over the place on this planet. Its streets are more secure (and cleaner) than New York or London. If those points of interest are not sufficient, it levies no taxes on source of revenue, assets or capital beneficial properties.

It comes as no wonder that the United Arab Emirates (United Arab EmiratesDubai, a gleaming industry hub, is projected to welcome 6,700 millionaires this 12 months, in line with Henley & Companions, a wealth consultancy. That quantity is just about double the quantity coming to the U.S., the ancient house of the sector’s richest other folks, the place 5.5 million citizens personal belongings of $1 million or extra. Lengthy a protected haven for rich Russians, Indians and Arabs from neighboring international locations, Dubai is now attracting a brand new workforce of muggle immigrants: Europeans fleeing rising political uncertainty at house.