Once drawn to the Emirati capital by its tax-free status and other advantages, many Swiss residents and other foreigners are now leaving for more peaceful destinations—including Switzerland.
Once an ideal destination for tax exiles from Switzerland and other countries, Dubai has become a real headache for them. This has been the case ever since the conflict between Israel, the United States, and Iran has severely disrupted life in this former haven of peace.
Drawn into the conflict against its will, the city once considered the Swiss capital of the Middle East is now seeing many of its residents seek to flee, if only temporarily.
Advantages that no longer hold sway
In the face of the current insecurity, the advantages that made the Emirati capital so attractive to the ultra-wealthy and entrepreneurs—no income tax, first-rate infrastructure, a stable legal environment, an ideal geographic location as a crossroads between Europe, Asia, and Africa, and economic dynamism—no longer hold sway…
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