Not just sanctions: in Dubai billionaires who made their fortune in Russia also find other advantages, here are which ones
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While the war in ukraine he is experiencing increasingly dramatic phases and the Russia also deals with western sanctionsthe locals oligarchs they seem to have found one solution to preserve your business. In fact, more and more often their goal escaping the consequences of conflict is only one: that of Dubai.
The city-state located in United Arab Emiratesnotoriously, hosts wealthy entrepreneurs coming from all corners of the world for about thirty years. The last fifteenin particular, they saw a exponential growth from this wet corner of the world Persian Gulf. Why, though, do Russia’s oligarchs remain preferring Dubai to other havens for the rich? The answer is soon said.
Russia: the reasons for the transhumance of oligarchs to Dubai
In fact, Dubai presents a visa program particularly advantageous. The local government, however, he added a not insignificant detail. It’s really about what is happening in ukraine1 war against which the emirate promised to remain neutral. And for this reason the investments by those fleeing Russia with big capitals you are concentrating here. Mainly in the real estate sector.
Confirmation comes from ‘Forbes’, which he heard various industry brokers In Dubai. The director of Vartur Imóveis is Şerif Nadi Varlıwho framed the situation thus:The demands of oligarchs I’m constantly growing. are people who have great capitals of russiaand they are trying to accomplish high level investments. But they don’t trust to keep your goods Europe“.
I’Dubai opening to Russia however, it is also leading to other consequences. Another broker, who however did not want ‘Forbes’ to make his identity public, said: “There is a big interest forproperty purchase. But not only. Because several oligarchs are seriously thinking about leaving Russia AND move to Dubai permanently“. And a colleague, who in turn remained anonymous, confirmed: “Several billionaires are looking for a house here“.
From this point of view, well-known names abound. Go by Pavel DurovThe founder of telegramfor the construction tycoon Andrei Molchanovpassing through Albert Avdolyanfounder of telecommunications giant expateland the fertilizer lord Dmitry Rybolovlev. each of them has built his own fortune in Russia and has already moved his residence to Dubai. Not to mention who comes and goes with their own luxury jet or yacht: the list in this case would be much more time.
Marking: DubaioligarchsRussiasanctions