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Khaleej Times
6 days ago
- Business
- Khaleej Times
UAE emerges as top global safe-haven for wealth in new tax index
The UAE has emerged as the world's most attractive destination for wealth preservation, with Abu Dhabi and Dubai topping the newly released Tax Friendly Cities Index 2025 by global mobility platform Multipolitan. The report underscores the UAE's status as a global hub for high-net-worth individuals (HNWIs) seeking stability, fiscal efficiency, and long-term wealth protection amid growing global tax pressures. Multipolitan's 'Wealth Report 2025: The Taxed Generation' ranks 164 cities based on their statutory taxation frameworks, legal governance, and treaty networks. Abu Dhabi takes the top spot, followed closely by Dubai in second place, outperforming traditional financial centres such as Singapore (3rd), Zurich (6th), and Hong Kong (7th). The UAE's achievement underscores its role as a magnet for global capital and talent in an era when rising taxes, geopolitical uncertainty, and shifting regulatory landscapes are redefining global wealth strategies. Abu Dhabi leads due to its zero per cent income tax regime, relatively low property transfer fees, strong legal infrastructure, and consistent policy environment. Dubai's second-place ranking reflects its unparalleled international connectivity, broad treaty coverage, and a regulatory ecosystem that supports transparent wealth management and investor confidence. Speaking on the findings, Nirbhay Handa, CEO of Multipolitan, said, 'Wealth isn't just being built anymore — it's being defended. Geography has become the ultimate strategy. The UAE is at the forefront of this shift, offering not just low tax rates but something even more important — predictability, legal clarity, and institutional trust.' The Index arrives at a time when high-tax jurisdictions in Europe and North America are tightening regulations on wealth, inheritance, and capital flows. In contrast, cities like Abu Dhabi and Dubai offer a rare combination of low-tax environments, asset security, and regulatory foresight — a mix that increasingly appeals to globally mobile families and corporate leaders. The report also highlights the broader strength of the Gulf region in shaping the future of wealth mobility. Five additional GCC cities made the top 20 — Manama (4th), Doha (5th), Kuwait City (8th), Riyadh (12th), and Muscat (17th) — driven by tax incentives, economic diversification strategies, and growing financial sector sophistication. With seven of the top 20 tax-friendly cities located in the GCC, the region's reputation as a rising force in wealth preservation is now firmly established. In addition to taxation metrics, Multipolitan's report introduces two complementary indexes that provide a multidimensional lens on global resilience. In the Wealth Preservation Cities Index (2015–2025), Zug, Hong Kong, and Basel ranked highest for safeguarding purchasing power during a volatile decade. Abu Dhabi and Dubai placed 22nd and 24th, respectively, indicating growing maturity and increasing investor confidence in long-term capital security. Meanwhile, in the Smart & Sustainable Cities Index 2025, Wellington, Copenhagen, and Singapore topped the rankings. Abu Dhabi and Dubai, ranked 23rd and 25th, are quickly climbing the ladder as they invest in climate resilience and digital infrastructure — cornerstones of future wealth sustainability. According to Knight Frank's 2024 Wealth Report, Dubai recorded the highest global influx of ultra-rich individuals, with over 4,500 new HNWIs relocating to the city in the past year alone. This was driven by its appealing visa regimes, lifestyle offerings, and safe-haven status during geopolitical upheavals. Abu Dhabi, with its long-term investor residency schemes and rapidly expanding private banking sector, is also gaining traction among institutional wealth managers and multi-family offices. The Multipolitan report includes expert commentary from former leaders at EY, Deloitte, and BDO, as well as international tax lawyers and family office strategists. Collectively, these perspectives paint a picture of a new global order in wealth planning — one where jurisdictional agility, smart structures, and proactive compliance are becoming essential. Topics addressed range from how American expatriates are restructuring their holdings, to how AI is transforming global tax strategy, to Portugal and Malta's rising appeal as complementary wealth hubs. What sets Abu Dhabi and Dubai apart, experts note, is their ability to combine traditional financial stability with innovation and long-term governance vision. With no personal income tax, capital gains tax, inheritance tax, or wealth tax, the UAE continues to attract wealth creators seeking to shield their legacies from policy volatility. Moreover, the country's rapidly growing network of double tax treaties — now exceeding 140 — ensures international compliance and ease of asset mobility. As governments worldwide increase scrutiny on offshore structures and adopt transparency standards like the OECD's Common Reporting Standard (CRS), the UAE's strategy of aligning competitive taxation with robust regulatory practices has earned global credibility.
Malay Mail
14-07-2025
- Business
- Malay Mail
Julius Baer Global Wealth and Lifestyle Report 2025 APAC Key Highlights
Singapore (ranked #1 globally): Singapore continues to top the index as the costliest city for living well for the third consecutive year. Despite this, the city remains highly liveable, appealing to high-net-worth individuals and businesses due to its stable political climate, safety, and quality services, including education and healthcare. Overall, Singapore's stability and connectivity continue to make it a leading choice for relocation and residency. Lifestyle index[1]: Singapore is ranked the most expensive for categories of car and women's handbag, second for women's shoes and third for residential property and healthcare. It is amongst the least expensive for a treadmill (ranked 21 st ). Hong Kong (ranked #3 globally): Hong Kong remains one of the most expensive cities to live well. Its low taxes and cosmopolitan appeal continue to attract wealthy individuals, bolstered by a residency-by-investment programme that has drawn significant interest from both mainland Chinese and global HNWIs. Lifestyle index: Hong Kong is ranked the most expensive for a lawyer, and second most expensive for car and residential property, and third for degustation dinner. While Singapore saw hotel suites rise 10 per cent this year, Hong Kong saw a 26 per cent fall in prices. Shanghai (ranked #6 globally): Lifestyle index: Shanghai remains the second most expensive city for watches, the third most expensive city for women's shoes, and while it is the most expensive city to have a degustation dinner, it is interestingly the second cheapest for Champagne, after Hong Kong. Bangkok (ranked #11 globally): Bangkok made one of the biggest jumps this year, going up 6 places. While relatively affordable for many services in the index, Bangkok is one of the priciest global cities for luxury goods such as ladies' and men's fashions, as well as cars and watches. Lifestyle index: Bangkok is ranked most expensive for women's shoes, and third for cars. Mumbai (ranked #20 globally): Despite India's position as a rising economic powerhouse, Mumbai is relatively affordable for most services, particularly hospitality and travel. Lifestyle index: Interestingly, it is jointly ranked most expensive for treadmill, but cheapest across the board for LASIK. [1] Refer to Appendix from page 54 onwards for more details on rankings, and details on price changes on Lifestyle Index items for each city. HONG KONG SAR - Media OutReach Newswire - 14 July 2025 - The sixth edition of theconfirms the ongoing shift from material consumption towards experiences., commented: "."Asia Pacific (APAC) continues to be an expensive place to live well in general, as its developing cities continue their upward economic trajectory. The region saw only slight price decreases of 1 per cent on average across the region, making it the most stable of all the surveyed regions this again, two of the world's three most expensive cities can be found in the Asia Pacific region, whereranks 1(unchanged) andranks 3(from 2).andmade the largest leaps, each climbing six places to 11and 17respectively. Conversely,dropped from fourth to sixth, andfell to 23despite a 7.5 per cent rise in average local currency APAC, spending on goods remains high, though consumer preferences continue to evolve. The growing wealth of APAC's HNW population, combined with increased interest in health, wellness, and experiences, continues to shape spending patterns across the in APAC have tended to increase both spending and investing (39 per cent), with the highest overall total increase in those investing at 68 per HNWIs from APAC have increased the diversity of assets in their portfolio and a consistent proportion has increased the level of risk. Investors in these regions also tend to be more interested in investing in future trends or in line with their values. Equities remain the preferred asset class in APAC, followed by real estate and cash. Despite notable 'ESG fatigue' in other regions, there has been a growing commitment to sustainable investing in in APAC have seen some of the biggest jumps in cost for lifestyle spending habits, outpacing all regions in high-end women's clothes, hotels, fine dining, asThere was one category this year where prices increased more sharply than any other - across almost all cities and in APAC, business class flights rose 12.6 per cent and the region also saw a marked increase in leisure travel compared to business line with global trends, longevity is now top of mind for many HNWIs in APAC. In the region,, ranging from lifestyle changes such as regular exercise and a good diet to more extreme measures such as gene therapy and cryogenic chambers being used by 21 per cent of respondents in APAC. Unlike other regions, those in APAC said that their attitudes are overwhelmingly concerned with health, even as other regions reported more interest in dining experiences and human it comes to financial longevity, the majority of HNWIs say the will adjust their wealth strategy to cover an increase in lifespan, with measures ranging from reviewing their existing wealth structure and rebalancing their portfolios to re-evaluating retirement goals. Respondents in APAC were much more likely to create a long-term care plan, with 68 per cent positively checking this old economy businesses will be a mainstay of wealth in Asia, entrepreneurship opportunities facilitated by the emergence of newer technologies are changing the profile of the Asian accelerate the shift towards new preferences in lifestyle and spending choices, such as a growing focus on sustainability, increased digitalisation and a bias towards wealth continues to shift in Asia Pacific, these trends will influence global luxury markets, real estate, and investment strategies in the years download the Julius Baer Global Wealth and Lifestyle Report 2025, please visit: (the report will be available after 3 p.m. Hong Kong Time)Hashtag: #JuliusBaer The issuer is solely responsible for the content of this announcement. About Julius Baer Julius Baer is the leading Swiss wealth management group and a premium brand in this global sector, with a focus on servicing and advising sophisticated private clients. In all we do, we are inspired by our purpose: creating value beyond wealth. At the end of April 2025, assets under management amounted to CHF 467 billion. Bank Julius Baer & Co. Ltd., the renowned Swiss private bank with origins dating back to 1890, is the principal operating company of Julius Baer Group Ltd., whose shares are listed on the SIX Swiss Exchange (ticker symbol: BAER) and are included in the Swiss Leader Index (SLI), comprising the 30 largest and most liquid Swiss stocks. Julius Baer is present in over 25 countries and around 60 locations. Headquartered in Zurich, we have offices in key locations including Bangkok, Dubai, Dublin, Frankfurt, Geneva, Hong Kong, London, Luxembourg, Madrid, Mexico City, Milan, Monaco, Mumbai, Santiago de Chile, Shanghai, Singapore, Tel Aviv, and Tokyo. Our client-centric approach, our objective advice based on the Julius Baer open product platform, our solid financial base, and our entrepreneurial management culture make us the international reference in wealth management. For more information visit our website at
