The sun sets behind the world’s tallest completed building, the Burj Khalifa (rear C), rising high in the skyline above all other buildings of Dubai, United Arab Emirates, 26 January 2021 (reissued 30 January 2021). Dubai ruler and UAE Prime Minister Al Maktoum on 30 January 2021 announced that the United Arab Emirates (UAE) would open citizenship for selected foreigners, namely ‘investors, specialised talents and professionals including scientists, doctors, engineers, artists, authors and their families’. File. Photo by ALI HAIDER/ EPA
Dubai in the United Arab Emirates has emerged as a preferred destination for Chinese emigrants seeking to relocate assets abroad, as Beijing intensifies its anti-corruption campaign, according to sources familiar with China’s underground economy.
Beijing-based sources said that until a few years ago, the United States and other Western countries were viewed as primary havens for Chinese officials and wealthy individuals seeking to move funds overseas. South Korea and Singapore were also considered alternative destinations.
However, they said that trend has shifted markedly, with Dubai now seen as more attractive amid tighter financial regulations in the West and stronger scrutiny of cross-border capital flows.
An immigration broker in Beijing, who spoke on condition of anonymity and gave only his surname Yuan, said interest in Dubai has risen sharply in recent years.
“Just a few years ago, Dubai was something of a hidden gem,” Yuan said. “But as its advantages have become widely known, inquiries about relocation have surged.”
Yuan cited Dubai’s relatively low tax environment and business-friendly policies as key factors driving demand.
Estimates cited by the sources suggest that at least 100,000 Chinese nationals have immigrated to or obtained residency or citizenship in Dubai in recent years. The broader Chinese population in Dubai is estimated at around 400,000.
Many of the new arrivals establish companies, often in trade or investment sectors. Industry chatter suggests the number of Chinese-owned enterprises in Dubai could have approached 20,000 by the end of 2025, though the precise breakdown of active operations is unclear.
China has stepped up its anti-corruption campaign in recent years, targeting both high-ranking officials and business figures. Analysts say the sustained pressure has contributed to increased efforts by some individuals to move assets or residence overseas.
— Reported by Asia Today; translated by UPI
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Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260219010005789
