Dubai is an attractive destination for top investors from around the world, but even more so for Indian millionaires. According to the latest reports from 2024, Dubai received a significant amount of money that millionaires from this country decided to invest in this location, thanks to the Liberalized Remittance Scheme (LRS).
The need for Indians to invest in other countries materialized in various sectors, but real estate ended up being the most benefited. This need highlights the predominant trend in this sector because they seek better returns, diversification, and even improvements in lifestyle through foreign real estate investments that this destination offers.
Why Indian millionaires find Dubai attractive
As has been happening in recent years, expatriates and wealthy foreigners are those who see Dubai and the rest of the United Arab Emirates as a coveted destination with strong returns due to the attractive policies the government has launched to benefit this sector. One of the main reasons why this sector considers Dubai as a friendly place for investment is the existence of the already famous Golden Visa, whose implementation addresses the aforementioned needs of the UAE authorities.
This is a long-term residence card that allows foreigners to live, work, or study in the United Arab Emirates, valid for a renewable period of 5 or 10 years. The condition for obtaining it is very simple, as a person can qualify if they own one or more residences in the city and throughout the territory. To do so, they must present proof confirming that the value of the real estate exceeds two million dirhams.
Key factors for Indian entrepreneurs in Dubai according to experts
The large influx of Indians in Dubai has surpassed the Russian millionaires who, amid the Ukraine war, found this destination to be a haven for investment. Nonetheless, India’s wealthy population sees benefits in this city beyond real estate investments. One such reason is education. Many children from wealthy families choose this place to study, alongside the excellent infrastructure, first-class services, and ultra-luxurious housing options.
Rentals also influence this trend. According to Indian specialists, rental returns in Dubai are often higher than in the main cities of the country, and rental income yields a 5% to 7% return on investment. According to analysis by Sotheby’s global network, the wealthy population also considers other destinations like London, New York, and other global cities. However, Dubai is the preferred choice due to its proximity, exclusive cost of living, and growing real estate market.
The process for an Indian entrepreneur to buy a property in Dubai
According to information provided by Sotheby’s, the process of acquiring a property in Dubai is very straightforward. To make a purchase, only a copy of the passport is needed. Nevertheless, there are rules that cannot be bypassed, as loans are not easily available, and buyers must pay the full amount in cash.
According to data provided by the aforementioned advisory firm, an average property that Indians typically buy in Dubai is valued at around 4 million dirhams, which translates to approximately 90 million rupees (Indian currency). This value is targeted at the wealthiest sectors of the country and those interested in acquiring high-end residences and villas.
