Less tax, more luxury: millionaires flock to Dubai

DUBAI: Rich people are flocking to Dubai in record numbers, drawn to the desert city by its zero income tax policy and easy luxury lifestyle that has become harder to maintain elsewhere.

The United Arab Emirates and particularly Dubai have long welcomed wealthy people from nearby countries, and people helping millionaires to move there told AFP it is seeing more Westerners joining the fray.

Advisory firm Henley & Partners estimates that the UAE will attract an unprecedented 9,800 millionaires this year -- more than anywhere else in the world. The Gulf state´s golden visa scheme, meant to attract wealthy or skilled foreigners, allows individuals to obtain a 10-year residence permit.