Dubai ranks 11th in Best Residence-by-Investment Index globally

By Arya M Nair, Intern Reporter
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The Best Residence-by-Investment Cities for Business Index has ranked Dubai 11th out of 25 cities where entrepreneurs, business owners, professionals, and high-net-worth individuals can obtain residency through investment migration programs.

The unique new analytical tool of Henley & Partners, a company that provides residence and citizenship advice, in collaboration with Deep Knowledge Analytics (DKA) aims to help international companies, entrepreneurs, and investors make strategic decisions about where best to locate their headquarters, executives, employees, and themselves in a pandemic world.

The cities that took the top spots in the index are London, New York, Sydney, Singapore, Zurich, Los Angeles, Barcelona, Hong Kong, Vienna and Toronto.

The cities are ranked based on 10 criteria that include lifestyle, tax, education, real estate, healthcare, security, infrastructure, and stability, as well as COVID-19 safety and the relevant investment migration program.

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Juerg Steffen
Henley & Partners

“Residence-by-investment programs provide a channel for building a migration portfolio of multiple complementary residences and citizenship options to hedge against volatility and take advantage of new opportunities in the pandemic world order.” 

In exchange for investing in their property markets or commercial sectors, European and Caribbean countries have long provided residency and citizenship to suitable people. Many buyers join to secure their assets, provide a better life for their families, achieve stability, or travel without a visa.

As a result of the COVID-19 pandemic, ultra-high-net-worth individuals (UHNWIs) are looking for alternative residences and citizenship. According to a Knight Frank survey, about a quarter of UHNWIs planned to apply for a second passport or citizenship last year.

This year, the UAE stated that non-Emiratis can apply for Emirati citizenship. Government or royal court authorities will nominate qualified professionals. Investors, individuals with specialized qualifications such as doctors or scientists, as well as artists and other “talented” or “creative” people, are all eligible for nominations.

Related: Dubai Customs ranks among top 10 great workplaces in ME; Survey