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Gulf Business
6 days ago
- Business
- Gulf Business
Abu Dhabi, Dubai top Multipolitan's tax-friendly cities index
Abu Dhabi and Dubai have secured the top two positions in a new global index ranking the world's most tax-friendly cities, according to Multipolitan's The UAE's capital, Abu Dhabi, was ranked first, while Dubai came in second, reinforcing the country's growing reputation as a global hub for high-net-worth individuals (HNWIs) seeking low-tax jurisdictions with stable governance and legal clarity. Multipolitan's flagship report introduces the inaugural Tax Friendly Cities Index , evaluating 164 jurisdictions on statutory taxation metrics, bilateral treaty coverage, and governance indicators. The UAE's top ranking is attributed to its zero personal income tax, relatively low property transfer costs, and regulatory stability. 'The UAE is at the forefront of a global shift in wealth preservation. Geography is becoming the ultimate strategy,' said Nirbhay Handa, CEO of Multipolitan. The index also highlights strong regional performance, with five other Gulf cities – Manama (No 4), Doha (No 5), Kuwait City (No 8), Riyadh (No 12), and Muscat (No 17) – making the top 20. In total, seven of the top 20 cities are located in the Gulf Cooperation Council (GCC), a region increasingly viewed as a key jurisdiction for global wealth management. Singapore ranked third on the index, driven not by low taxes, but by fiscal prudence, treaty networks, and policy stability. Zurich and Hong Kong also featured in the top 10. Read: Abu Dhabi and Dubai also ranked in the Wealth Preservation Cities Index and Smart & Sustainable Cities Index 'Today's tax-friendly cities must offer more than low rates. Investors want confidence that policies are stable and that their assets are protected,' Handa said. Alongside the tax rankings, the report features two additional indices: the Wealth Preservation Cities Index (2015–2025) and the Smart & Sustainable Cities Index (2025) . Zug, Hong Kong, and Basel lead the wealth preservation index, while Wellington, Copenhagen, and Singapore top the smart cities list. Abu Dhabi and Dubai ranked 22nd and 24th in wealth preservation, and 23rd and 25th in smart and sustainable cities, respectively. The report also includes commentary from global tax experts, former leaders from Big Four firms, and cross-border wealth advisors. Topics range from the rising compliance burden and planning for American expats to the impact of artificial intelligence on tax structuring. Multipolitan, founded in 2024 by Nirbhay Handa and Lee Smith, offers a product-driven global migration platform that supports international travel, relocation, business setup, and asset management. Handa previously served as group head at Henley & Partners, while Smith co-founded payments unicorn Paidy, later acquired by PayPal for $2.7bn.
Zawya
7 days ago
- Business
- Zawya
Multipolitan releases wealth report 2025: Unveils first ever tax friendly cities index
Dubai - Multipolitan, a global mobility platform, published its flagship Wealth Report 2025: The Taxed Generation. The report ranks the world's best cities for preserving and protecting wealth amid rising global tax pressure. The UAE secures the top two spots in the Tax Friendly Cities Index due to Abu Dhabi and Dubai's favorable tax environments and stable governance. The inclusion of five additional GCC cities in the top 20 underscores the region's increased significance as a key jurisdiction for global wealth. As governments recalibrate policy, new opportunities are emerging for those with the foresight to act early and decisively. Concurrently, environmental volatility and regulatory frameworks are reshaping the criteria by which globally mobile families assess cities. This report is a toolkit for families and advisors navigating the decade ahead. 'Wealth isn't just being built anymore - it's being defended. Geography is becoming the ultimate strategy, and the UAE is at the forefront of this shift.' Nirbhay Handa, CEO of Multipolitan Tax Friendly Cities Index 2025 This index evaluates 164 jurisdictions using a composite of statutory taxation metrics (personal income tax, capital gains, inheritance, and wealth tax), bilateral tax treaty coverage, and governance indicators. Abu Dhabi ranks first, combining a 0% income tax regime, relatively low property transfer costs, and a strong legal infrastructure. Dubai ranks second, offering broad international connectivity and regulatory clarity. Singapore occupies the third position, not due to zero taxation, but as a jurisdiction exemplifying fiscal prudence, robust treaty architecture, and policy stability. Manama, Doha, Kuwait City, Riyadh, and Muscat feature within the top 20, demonstrating the stability and strength of the GCC. 'In short, today's tax-friendly cities must offer more than a low tax rate: they must earn investors' trust that the rate won't suddenly change and that assets will remain safe. That requires stable governance - something Abu Dhabi, Dubai, and Singapore have carefully cultivated,' said Handa UAE Leads, GCC displays strength: Abu Dhabi and Dubai Dominate the 2025 Tax Friendly Cities Index The UAE cements its leadership as a global hub for mobile wealth in the inaugural Tax Friendly Cities Index 2025, with Abu Dhabi ranked #1 and Dubai following closely at #2, ahead of financial powerhouses like Singapore (#3), Zurich (#6), and Hong Kong (#7). Abu Dhabi's top position reflects a combination of ultra-low personal tax exposure, regulatory stability, and a lower property related fee compared to Dubai, giving it a slight edge in overall tax friendliness. Dubai's second-place ranking highlights its unmatched accessibility through one of the world's most extensive treaty networks and its reputation for strong governance. The UAE's performance reinforces its position as a global epicentre for wealth preservation, offering HNWIs not just low tax friction, but also legal clarity and future-proof optionality in an increasingly complex fiscal landscape. Beyond the UAE, five other GCC cities: Manama (#4), Doha (#5), Kuwait City (#8), Riyadh (#12), and Muscat (#17) also rank in the top 20, benefitting from favourable tax regimes and strong commitments to enhancing institutional depth and international connectivity. With seven of the top 20 tax friendly cities located in the GCC, the region's growing importance as a key enabler of wealth preservation is evident. Beyond Taxes: The New Geography of Wealth In addition to the Tax Friendly Cities Index, the report unveils two powerful new lenses on global resilience: Wealth Preservation Cities Index (2015–2025): Zug, Hong Kong, and Basel lead having safeguarded real purchasing power through a volatile decade. Abu Dhabi and Dubai place 22nd and 24th, underscoring increasing maturity in capital preservation. The Smart & Sustainable Cities Index (2025): Wellington, Copenhagen, and Singapore top the list, combining climate resilience with advanced digital infrastructure, the bedrock of future wealth security. Abu Dhabi and Dubai rank 23rd and 25th, reflecting momentum and future potential. Expert Perspectives In addition to the rankings, the report features ten expert commentaries from top voices in tax and wealth strategy, including former leaders at EY, Deloitte, and BDO, international lawyers, and cross-border family office advisors. These commentaries explore how ultra-wealthy families are adapting to a high-tax future, staying compliant in an era of transparency, and weighing new opportunities across jurisdictions - from Singapore and Dubai to Portugal, Malta, and Cyprus. Others offer insider views on American expats, Brazil's wealth planning playbook, and how AI can help transform tax planning. Together, they reveal a shift in mindset: wealth resilience now depends on smarter structures, jurisdictional agility, and long-term planning. About Multipolitan Multipolitan is the world's first and only product-driven global migration platform that simplifies international travel, relocation, business setup, and asset management for borderless enthusiasts. Launched in 2024, Multipolitan was co-founded by Nirbhay Handa, a former Group Head at Henley & Partners, and Lee Smith, co-founder, who previously founded payment unicorn Paidy, which was acquired by PayPal for US$2.7 billion.
South China Morning Post
24-04-2025
- Business
- South China Morning Post
Hong Kong ranks as second-most crypto-friendly city in the world in new index
Hong Kong is the second-most friendly city to cryptocurrencies in the world, according to a new report by migration platform Multipolitan, which highlights the market as a hub for attracting industry wealth, talent and innovation. The city ranked just behind Ljubljana, capital of Slovenia, in the Crypto Friendly Cities Index, released on Thursday as part of Multipolitan's Crypto Report 2025. The index evaluates cities based on factors such as regulation, tax regimes, digital infrastructure and wealth. Ljubljana, home to the non-profit Blockchain Alliance Europe, has widely embraced the new digital assets, with hundreds of retail venues accepting crypto payments. Following Hong Kong in the ranking were Zurich, Singapore and Abu Dhabi. Slovenia also leads in a ranking of crypto wealth concentration, with the average owner holding US$240,500 in virtual assets, followed by Cyprus at US$175,000 and Hong Kong at US$97,500, according to Multipolitan data. So-called crypto whales – those holding large amounts of such assets – are increasingly seeking alternative residences and second citizenships in tax-neutral jurisdictions. The United Arab Emirates has proven especially attractive. Dubai has drawn many wealthy industry figures with its Golden Visa scheme, which enables individuals to obtain residency for 10 years with an investment of 2 million dirhams (US$544,500), according to the report. 'We're moving from birthrights to choices – where individuals pick the jurisdictions, currencies and communities that serve them best,' Nirbhay Handa, co-founder and CEO of Multipolitan, said in a statement. 'Tokenised assets, decentralised residencies and on-chain governance are indisputably the new operating system for civilisation.'
