#UAE #GoldenVisa
Lakshmi Mittal, one of the world’s most prominent steel tycoons and the face behind ArcelorMittal, is reportedly shifting his base from the UK towards Dubai’s ultra‑exclusive Naia Island – and the reasons go far beyond just luxury. In this short explainer, we decode how tax rules, inheritance laws, privacy, and residency policies are silently pushing global billionaires like Mittal to move from traditional financial hubs such as London to new destinations like Dubai.
In the UK, the new political environment and proposals to increase the tax burden on the super‑rich – especially through stricter inheritance tax rules that can go up to around 40 percent on worldwide assets – have triggered serious concern among high‑net‑worth individuals. Lakshmi Mittal has long figured among Britain’s richest residents, but is now restructuring his personal strategy by spending more time in low‑tax jurisdictions and exploring Dubai as a long‑term base.
On the other side, Dubai and the wider UAE are positioning themselves as a magnet for global capital through very low direct taxes, zero inheritance tax, high financial stability, and investor‑friendly regulations. The UAE’s Golden Visa regime, which offers long‑term residency (often 10‑year permits) to investors, entrepreneurs, professionals, and high‑net‑worth individuals without the need for a local sponsor, adds another powerful incentive for billionaires to shift. It gives them residency security, ownership flexibility, and easier global mobility, all while enjoying a tax‑efficient environment.
Naia Island in Dubai – which has been repeatedly highlighted in media reports in connection with Lakshmi Mittal – is an ultra‑luxury man‑made island designed for the world’s wealthiest families. It features high‑end waterfront villas, private beaches, premium hospitality, and exclusive marinas, making it a perfect blend of privacy, lifestyle, and status. Your script smartly connects this glamorous location with the deeper story of tax planning, wealth protection, and strategic relocation by global elites.
In this video, we break down in simple language why someone like Lakshmi Mittal would choose to leave a financial centre like London and look towards Dubai’s Naia Island. You’ll understand how zero inheritance tax, predictable rules, and long‑term visas in the UAE interact with rising tax pressure and policy uncertainty in Western economies, creating a clear push‑and‑pull effect. This is not just about one billionaire – it is part of a larger global trend of wealth and investment moving from high‑tax to low‑tax jurisdictions, which can permanently change where capital and high‑net‑worth residents live.
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