The UAE’s popularity as the top destination for the wealthy in the region is here to stay. With an enticing array of tax advantages, vibrant business landscape, and strategic appeal, the UAE continues to captivate high-net-worth individuals (HNWIs) and businesses alike, according to experts. According to the Brics Wealth Report earlier this year by investment migration advisory firm Henley & Partners in collaboration with New World Wealth, Dubai hosts 72,500 millionaires, with 212 classified as centi-millionaires and 15 as billionaires. Similarly, Abu Dhabi is home to 22,700 millionaires, including 68 centi-millionaires and five billionaires. People with a net worth of $100 million or more in investable assets are called centi-millionaires. The Emirates was expected to attract 4,500 more millionaires last year, according to a separate report by Henley & Partners in June 2023. “The UAE has strategically transformed into a thriving global nexus of wealth,” says Mohammad Al Bastaki, Group Head of Private Banking at Emirates NBD, adding that having a great location and connectivity are huge benefits. “Being a central hub to both western and eastern/Asian countries, the UAE is considered among the world’s top 10 most globalised countries in terms of connectivity and accessibility mainly through top local airline carriers, known worldwide,” he says.