UAE safest hub for parking money, to attract more millionaires despite Israel-Iran conflict, say immigration experts
The
United Arab Emirates
will attract more millionaires and continue to remain a paradise for high-net-worth individuals despite the tensions prevailing in the Middle East following the Israel-Iran war. Several international migration consultants and wealth managers believe that despite the conflict, the Emirates is still the safest country to park money and has always been a stronger magnet in a time of crisis in the Gulf region.
In an interview to The Khaleej Times, Armand Arton, CEO of leading immigration investment firm Arton Capital, claimed that he is hopeful the
UAE
will continue attracting even more millionaires than it had in the last five years. He said that the Emirates has always been the safest hub because of the infrastructure, the safety nets, the rule of law, the quality of life and the low tax.
Citing the Russia-Ukraine war and Donald Trump's return to power in the US, Arton said that the conflict between Moscow and Kyiv was the last big wave of wealth that came in. He further stated that the taxation in the UK and the politics of Europe created a second wave of Europeans.
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
Build Your Dream Villa Near Bengaluru Airport
Sumadhura Group
Learn More
Undo
Talking about the third wave of Americans, the Arton Capital CEO said that it came after US President Trump was elected, as a lot of Democrats and others moved to the UAE. 'We see that very high profile of people coming in and asking for the Golden Visa,' he added.
UAE attracted around 13,000 new millionaires in 2024, says report
Live Events
Armand Arton's claim was strongly backed by the UBS Global Wealth Report 2025, which came out on Wednesday, June 18, 2025, stating that the Emirates attracted around 13,000 new millionaires in 2024, which is a 5.8 per cent increase.
The rise brings the total number of high-net-worth individuals in the country to 240,343. The millionaires in the UAE command approximately $785 billion (2.88 trillion) in wealth, according to The Khaleej Times.
'War always comes with a very high human cost, but a localised conflict like the current situation is likely to have a very limited macroeconomic effect. Unless there is a major escalation, we would not see this as significantly changing global macro trends, including migration,' said Paul Donovan, chief economist at UBS Global Wealth Management.
Iran-Israel war 'will create a new wave of people, says Arton
The Arton Capital CEO said that the Iran-Israel conflict, which escalated sharply after the US struck three nuclear sites in Iran on Sunday (June 22, 2025), 'will create a new wave of people from the neighbouring country who will come to the UAE and who are still considering that this is the safest place to park their money and family.'
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
21 minutes ago
- Time of India
What is Israel Doomsday Clock and is it still running or destroyed? Here's when Iran's Supreme Leader Ayatollah Ali Khamenei predicted Israel would no longer exist
Israeli airstrikes hit several government and military-related targets in Tehran on Monday. The strikes focused on facilities tied to Iran's internal security, military infrastructure and an Israel Doomsday clock counting down to the nation's end. Targets Linked to Iran's Internal Forces The Israel Defense Forces (IDF) said fighter jets attacked headquarters and other facilities used by the Islamic Revolutionary Guard Corps (IRGC) and Iran's internal security forces. The targeted forces work under the Iranian regime's military. Their duties include internal defense, controlling threats and maintaining government stability. These forces have been involved in controlling unrest and protests within Iran. Also Read: Strait of Hormuz Closure: What is Iran's next move as regime takes final call to close Strait of Hormuz with Yemen joining Iran in war against US and Israel? See if Russia may come to Iran's aid in war by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Chi phí cấy ghép răng là bao nhiêu vào năm 2025 (kiểm tra giá) Cấy ghép răng | Quảng cáo tìm kiếm Tìm hiểu thêm Undo Evin Prison and Israel Doomsday Clock The airstrikes also hit Evin Prison, known for housing political detainees. Israeli officials said the prison represents the government's control over dissent. A digital clock in Palestine Square was also targeted. This clock was unveiled in 2017. It displayed a countdown to 2040, the year when Iran's Supreme Leader predicted that Israel would no longer exist. Iran Releases Footage Denying Damage After Israel said the countdown clock was destroyed, Iran's Mehr news outlet published a video. It showed the clock still active. The outlet said the footage was taken after the Israeli attack. However, the timing of the video could not be verified. Iran has tight control over images showing effects of Israeli strikes, making confirmation difficult. Live Events Also Read: Which country can give nuclear warheads to Iran? Russia's Dmitriy Medvedev says US strikes may backfire as Iran may now begin nuclear weapons production and procure nuclear warheads from other nations Large-Scale Strikes in Tehran Area In a separate action, more than 50 Israeli fighter jets carried out another wave of strikes. These attacks hit missile factories, radar systems, military headquarters and missile storage locations. The IDF said this operation aimed to damage Iran's ability to build and store missiles. The military added that it intended to reduce the operational power of Iran's armed forces. FAQs Why did Israel target the Doomsday clock in Tehran? Israel targeted the clock because it symbolized Iran's desire to see Israel gone by 2040, as stated by Iran's leader. What sites were hit by Israel in the latest airstrikes? Israel targeted IRGC bases, internal security offices, Evin Prison, missile facilities, radar systems, and Israel Doomsday Clock in central Tehran.
Time of India
21 minutes ago
- Time of India
Iran Israel war, US nuclear strikes to push early Fed interest rate cut in July?
Donald Trump's decision to involve the USA into Iran Israel war has evoked both positive responses as well as sharp criticisms within America. While the Americans are anxiously expecting Tehran's response to the USA attack on its nuclear sites and the US President raised the idea of regime change in the Islamic Republic. The US bombing of Iran's nuclear sites injected fresh uncertainty into the outlook for inflation and economic activity at the start of a week chock-full of new economic data and central banker commentary, including two days of Congressional testimony from Federal Reserve Chair Jerome Powell. Last week, the US central bank held interest rates steady, but slowed its overall outlook for rate cuts in response to a more challenging economic outlook. Investors are currently anticipating 50 basis points worth of Fed rate cuts by the end of this year. Also Read - Iran Israel war: Tehran plans attack against USA forces anywhere, China, Russia send chilling warning by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like If You Eat Ginger Everyday for 1 Month This is What Happens Tips and Tricks Undo US Fed Interest Rate Cut in July? A key US central bank official called on Monday for an interest rate cut as early as July if inflation effects from President Donald Trump's sweeping tariffs remain limited. The comments by Federal Reserve vice chair for supervision Michelle Bowman came days after Fed governor Christopher Waller said the bank could lower rates as soon as next month -- amid differences among officials on how they should respond to levies, AFP reported. Live Events In its policy meeting this month, the Fed held its benchmark lending rate at a range between 4.25 percent and 4.50 percent, keeping it unchanged so far this year. Fed Chair Jerome Powell said policymakers could afford to wait so as to understand the effects of Trump's tariffs, even though the president has repeatedly urged the independent central bank to cut interest rates. For now, Bowman said the data have not shown clear signs of material impacts from tariffs and other policies, noting that such effects might take longer to appear and be smaller than initially expected. FAQs Q1. What is current US Fed interest rate? A1. In its policy meeting this month, the Fed held its benchmark lending rate at a range between 4.25 percent and 4.50 percent, keeping it unchanged so far this year. Q2. Who is US Fed Chair? A2. Federal Reserve Chairman is Jerome Powell.
Time of India
23 minutes ago
- Time of India
Nightlife getaway at Palayam-Ayyankali Hall to open
1 2 3 4 T'puram: The vibrant stretch between Palayam and Mahatma Ayyankali Hall is all set to be transformed into a premier nightlife hub, as part of the Smart City Thiruvananthapuram Ltd (SCTL) initiative. The infrastructure upgrade, valued at approximately Rs 2 crore, is scheduled to begin in Aug, by adding parklets, smart lighting, accessibility features and cultural spaces. The project includes interactive lighting installations designed to create a dynamic evening ambience while parklets will provide greenery and seating. Accessibility was a priority, with ramps, tactile indicators and signage ensuring an inclusive experience. "The work has reached the final stage and we can open it in Aug itself. In addition to basic amenities, we integrated disability-friendly features at every stage," said a senior SCTL official. "By combining parklets, smart lights and performance spaces, we aim to make this stretch a cultural heartbeat after sundown," he said. The smart amenities include EV charging stations, modern public toilets and automated vending kiosks. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like The Top 25 Most Beautiful Women In The World Articles Vally Undo LED interactive floor tiles, bicycle points, bollard lighting, planter boxes, wheelchair-accessible provisions, cobblestone flooring with casual seating, signage and landscaping works are also included. Utility cables were rerouted underground to avoid the common visual clutter seen commonly across older urban corridors and to create a clean skyline. Roads were relaid and energy-efficient LED street lamps were installed for safer nights. A new performance stage and open-air area will host music, street theatre and community events, blending tradition with modern urban beat. The Palayam-Ayyankali road is already being recognised as the city's second "nightlife hotspot" after Manaveeyam Veedhi. These upgrades echo a larger push by SCTL: Renovating 24 key stretches across the city with smart road infrastructure. These include dedicated pedestrian walkways, cycling lanes, underground utility ducts and modern drainage — parts of which were highlighted during the chief minister's inauguration of the smart roads project last month. SCTL officials said the Palayam-Ayyankali hub exemplifies the city's charm of retaining cultural richness while embracing modern amenity standards.
