Overview
- Multiple outlets citing The Sunday Times report that Mittal intends to spend most of his time in Dubai, with purchases linked to the new Naïa Island development.
- Inheritance tax, reportedly up to 40%, is cited as the key driver rather than income or capital gains measures.
- Dubai’s zero inheritance tax and clearer rules on global assets are presented as attractions for ultra-wealthy residents.
- Coverage says Mittal already owns a Dubai mansion, has reportedly bought tracts on Naïa Island set to complete around 2029, and that the project will feature the region’s first Cheval Blanc maison.
- Reports link the timing to the UK budget targeting wealthy residents, noting an earlier ‘exit tax’ idea was floated then dropped.