In recent years, a new trend has been observed among wealthy Chinese people - many of them prefer to move their lives or businesses to the United Arab Emirates. The Financial Times reported this.
Previously, Singapore was considered the main destination for Asia's wealthiest class. But now this priority is being taken over by Gulf cities such as Dubai and Abu Dhabi.
According to the publication's interlocutors, the number of Chinese people wishing to live or start a business in the UAE has sharply increased in recent years. They are not limited to just moving - many are looking for opportunities to establish family offices and obtain citizenship based on local laws.
According to the UAE government, nearly 80,000 "golden visas" were issued to foreigners in 2022 alone. This gives long-term residence rights to those who have invested in the country.
"Many families sold their properties in Singapore to invest in the UAE," said Jan Mrazek, head of M/HQ in the UAE.
In his opinion, the strict quarantine rules in China and Singapore were one of the main factors currently attracting Chinese investors to the UAE.
Today, Dubai is becoming not only a center of wealth and opportunities, but also the most attractive destination for those seeking a new way of life and financial freedom.
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