Dubai is calling for many non-doms who have had enough of the UK's rising taxes. Dubai Airports
Dubai is calling for many non-doms who have had enough of the UK's rising taxes. Dubai Airports
Dubai is calling for many non-doms who have had enough of the UK's rising taxes. Dubai Airports
Dubai is calling for many non-doms who have had enough of the UK's rising taxes. Dubai Airports


A UK tax rate of 67% makes Dubai move the obvious choice for the non-domiciled


Sam Bidwell
  • English
  • Arabic

April 09, 2025

Over the next five years, Britain will lose more millionaires per capita than any other country in the world. That’s on top of the 10,000 millionaires who left the UK last year, taking their tax contributions, investments and business activity with them. The UAE was a favoured destination.

In light of a struggling economy and growing fiscal obligations, Britain’s wealth departure presents serious challenges. At a time when the government has pledged more money to fund public services, the loss of so many high-net-worth individuals (HNWIs) will force Chancellor Rachel Reeves to make difficult decisions about whether to scale back her spending pledges, or raise money by raising taxes elsewhere.

So, what’s driving them away? The answer, of course, depends heavily on individual circumstances – but high tax rates, a challenging business environment and declining public safety are all contributing factors. For many millionaires, the government’s decision to abolish the non-domiciled tax regime last year will have been the straw that broke the camel’s back, pushing them to finally relocate.

For those unaware, the UK’s non-dom tax regime allowed foreign citizens to exempt their overseas earnings from UK tax, for a fixed fee. At its face, this system is an intuitive one: non-doms were still liable to pay tax on the money that they made in the UK, but could live here without subjecting their overseas income to sky-high British tax rates. The benefits for non-doms are obvious, but the scheme also provided significant benefits for the British public.

As of 2024, non-doms were estimated to pay, on average, £120,000 a year in British taxes. Some are likely to have paid millions, tens of millions, or even hundreds of millions in tax on their domestic income. That’s to say nothing of the broader benefits, including investment in British businesses, and consumer spending on goods and services in the UK.

When the government announced its intention to scrap the scheme, the Adam Smith Institute was clear: abolishing the non-dom tax treatment, without introducing an alternative system for attracting HNWIs, will be a disaster for the UK’s finances. Incredibly though, in implementation this bad idea is even worse than anticipated. The government’s 2024 Finance Act contains two particular provisions that will effectively make it impossible for many non-doms to remain in the UK.

First, the new rules governing the transfer of assets abroad are excessively wide-ranging. If a UK resident owns a foreign company, its profits can be treated as personal income – resulting, in effect, in a tax rate on overseas business income of 67 per cent.

UAE attracts more migrating millionaires than any other country

Second, HMRC, the UK’s revenue collection agency, has refused to say whether income repatriated to the UK under the "Temporary Repatriation Facility" will be treated as tax avoidance.

This uncertainty will make it impossible for many non-doms to remain in the UK. For many, it simply makes more sense to up sticks and relocate to wealth-friendly jurisdictions, such as Dubai.

With its low taxes, straightforward regulatory environment and safe streets, Dubai has become the premier destination for non-doms fleeing the UK. Combine these factors with a world-class airport and warm weather all year round, and the UK-to-Dubai pipeline should come as no surprise. Since the 1970s, Dubai has understood the value of human capital, and has sought to attract wealthy individuals from around the world. The city is now reaping the rewards. It punches above its weight in the world of international commerce, and is a world-renowned destination for conferences, summits and meetings.

In an increasingly competitive world, the success or failure of international cities will largely depend on their ability to attract high-quality people. While London and the UK are driving away wealth through excessive taxation, Dubai is taking the opposite path. Don’t be surprised to see more British expats – and more British businesses – setting up shop on the shores of the Creek in the years to come.

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Specs
Engine: Electric motor generating 54.2kWh (Cooper SE and Aceman SE), 64.6kW (Countryman All4 SE)
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Torque: 330Nm (Cooper and Aceman), 494Nm (Countryman)
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Stage result

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2. Caleb Ewan (AUS) Lotto-Soudal

3. Rudy Barbier (FRA) Israel Start-Up Nation

4. Dylan Groenewegen (NED) Jumbo-Visma

5. Luka Mezgec (SLO) Mitchelton-Scott

6. Alberto Dainese (ITA) Sunweb

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8. Max Walscheid (GER) NTT

9. José Rojas (ESP) Movistar

10. Andrea Vendrame (ITA) Ag2r La Mondiale, all at same time

Company%20profile
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COMPANY%20PROFILE%20
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DEADPOOL & WOLVERINE

Starring: Ryan Reynolds, Hugh Jackman, Emma Corrin

Director: Shawn Levy

Rating: 3/5

What is Folia?

Prince Khaled bin Alwaleed bin Talal's new plant-based menu will launch at Four Seasons hotels in Dubai this November. A desire to cater to people looking for clean, healthy meals beyond green salad is what inspired Prince Khaled and American celebrity chef Matthew Kenney to create Folia. The word means "from the leaves" in Latin, and the exclusive menu offers fine plant-based cuisine across Four Seasons properties in Los Angeles, Bahrain and, soon, Dubai.

Kenney specialises in vegan cuisine and is the founder of Plant Food Wine and 20 other restaurants worldwide. "I’ve always appreciated Matthew’s work," says the Saudi royal. "He has a singular culinary talent and his approach to plant-based dining is prescient and unrivalled. I was a fan of his long before we established our professional relationship."

Folia first launched at The Four Seasons Hotel Los Angeles at Beverly Hills in July 2018. It is available at the poolside Cabana Restaurant and for in-room dining across the property, as well as in its private event space. The food is vibrant and colourful, full of fresh dishes such as the hearts of palm ceviche with California fruit, vegetables and edible flowers; green hearb tacos filled with roasted squash and king oyster barbacoa; and a savoury coconut cream pie with macadamia crust.

In March 2019, the Folia menu reached Gulf shores, as it was introduced at the Four Seasons Hotel Bahrain Bay, where it is served at the Bay View Lounge. Next, on Tuesday, November 1 – also known as World Vegan Day – it will come to the UAE, to the Four Seasons Resort Dubai at Jumeirah Beach and the Four Seasons DIFC, both properties Prince Khaled has spent "considerable time at and love". 

There are also plans to take Folia to several more locations throughout the Middle East and Europe.

While health-conscious diners will be attracted to the concept, Prince Khaled is careful to stress Folia is "not meant for a specific subset of customers. It is meant for everyone who wants a culinary experience without the negative impact that eating out so often comes with."

Lexus LX700h specs

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Updated: April 15, 2025, 6:22 AM`