Abu Dhabi has become heaven for the world's wealthiest individuals

2023-12-13
349 views

It is widely known that many wealthy people all over the world have preferred to keep assets abroad. Destination usually ranged from the Cayman Islands, the British Virgin Islands, Switzerland. However, now that things changed, Abu Dhabi is gradually acquiring popularity among high net worth individuals, Bloomberg writes.

Details. In 2016, there were only 46 so-called special purpose vehicles (SPVs) in the country, which were used to secure assets. Nowadays they number over 5,000.

SPV is a separate legal entity or a company. It usually contains equity and property.

Billionaire Ray Dalio, the co-founder of Binance Changpeng Zhao, billionaire Indian family of Adani, Russian businessman and steel magnate Vladimir Lisin are reported to have set up SPVs this year. Moreover, the city is progressively gaining approval and interest of the royal families. Thus, National Security Adviser Sheikh Tahnoon bin Zayed Al Nahyan, the brother of the President, has also set up such companies.

Speaking about Abu Dhabi's attractiveness, it is worth mentioning that the UAE offers its residents asset protection, confidentiality and low taxes. Additionally, investors have opportunities to obtain long-term residence permits, and sometimes, even UAE citizenship.

All in all, the free zone in the UAE is very appealing to rich stratum of society thanks to a range of reasons, such as use of English common law, strong protection of an investor, and, undoubtedly, low taxation. Some people were attracted by the absence of any sanctions and restrictions. More precisely, the UAE restrained from any sanctions against Russia, while the USA, UK, EU countries strengthened various restrictions. Lastly, SPVs has no requirement on minimum share capital, no national restrictions. Shareholders possess the ease of share transfer.

Back to the blog

Another articles

2024-03-27
223 views
4 Caribbean countries signed a Memorandum on setting the minimum threshold to $200,000

Four of five Caribbean countries with CBI programs, namely Antigua and Barbuda, Grenada, Dominica, Saint Kitts & Nevis, signed a memorandum of understanding (MoU) to set the minimum threshold to $200,000 and collaborate on specific aspects.

4 Caribbean countries signed a Memorandum on setting the minimum threshold to $200,000
2024-03-14
138 views
What to expect in the Turkish market in 2024

With Turkiye you will have an opportunity to come one step closer to the business and real estate market in Eurasia, that is full of entrepreneurial opportunities and innovative ideas. The country boarders with a great range of countries, thus, suggesting new opportunities to people for efficient entrepreneurship and business development.

What to expect in the Turkish market in 2024
Choose the best option

Citizenship programs

All programs
Grenada
Grenada
from $150,000
3-6 months
Obtaining Grenadian Citizenship by investment program grants the right to live and work in Grenada at all times, the right to vote in elections and all rights associated with membership of the Caribbean Community (CARICOM).
Learn more
Turkey
Turkey
from $400,000
4-6 months
Cosmopolitans can get a second citizenship for investing in the country's economy from $400,000. There are five options to choose from: buying real estate, investment fund shares or government bonds, participating in the fixed capital of a Turkish company, opening a deposit in a Turkish bank.
Learn more
UAE
UAE
from $15,000
2+ weeks
Majestic skyscrapers, luxury hotels and shops, beaches and summer all year round. Building a business career in the UAE is prestigious.
Learn more
Discover new opportunities
For more information, the cost of services and an appointment for a personal consultation, please contact the company's representatives
Start applying for citizenship
Discover new opportunities