UAE President performs Eid Al Adha prayers in Abu Dhabi

Sermon at Sheikh Zayed Grand Mosque focuses on importance of sincerity as a spiritual and national value

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Khaleej Times

38 minutes ago

• Khaleej Times

UAE will attract more millionaires as Emirates remains safest country despite regional war

The UAE will continue to attract high net-worth individuals despite the regional Israel-Iran war as the Emirates is still the safest country to park money, according to international migration consultants and wealth managers. 'I have seen how UAE becomes always a stronger magnet in a time of crisis in the region and geopolitically around the world because of the infrastructure, the safety nets, the rule of law, the quality of life and low tax. I think that in case of any regional problems, the UAE will benefit as the best and safest hub,' said Armand Arton, CEO of leading immigration investment firm Arton Capital. In an interview with Khaleej Times, he stated that he expected the UAE to continue attracting even more millionaires than it had in the last five years. 'The Russia-Ukraine war was the last big wave of wealth that came in. After that, the taxation in the UK and the politics of Europe created a second wave of Europeans. We had the third wave of Americans after US President Donald Trump was elected, as a lot of Democrats and others moved to UAE. We see that very high profile of people coming in and asking for the Golden Visa,' he added. Stay up to date with the latest news. Follow KT on WhatsApp Channels. Abu Dhabi and Dubai have consistently been rated among the safest cities in the world. The UAE has been a magnet for millionaires from around the world in the post-pandemic period. On Wednesday, the UBS Global Wealth Report 2025 stated that the UAE attracted approximately 13,000 new millionaires in 2024, representing a 5.8 per cent increase, and bringing the total number of high-net-worth individuals in the country to 240,343. The millionaires in the UAE command approximately $785 billion (2.88 trillion) in wealth. In April, property consultancy Knight Frank reported, citing data from Henley & Partners, that the UAE attracted 7,200 millionaires in 2022, a 53 per cent increase over the previous year, bringing the total number of high-net-worth individuals (HNWIs) in the country to 130,500. 'War always comes with a very high human cost, but a localised conflict like the current situation is likely to have a very limited macroeconomic effect. Unless there is a major escalation, we would not see this as significantly changing global macro trends, including migration,' said Paul Donovan, chief economist at UBS Global Wealth Management. Armand Arton said that the Iran-Israel war 'will create a new wave of people from the neighbouring country that will come to UAE who are still considering that this the safest place to park their money and family.' Arton Capital has placed the UAE passport as the strongest in the world, placing it in the first position in its 205 index. Armand added that the UAE's passport ranking has increased from 35 to number 1, and no other country in the world has achieved such rapid growth. 'This is because of having the leadership decision and the execution to sign as many visa-free as necessary in order to open the world to the Emirati citizens,' he added.

The National

an hour ago

• The National

UAE urges prioritising diplomacy after US strikes on Iran's nuclear sites

The UAE on Sunday expressed deep concern over the ongoing tensions in the region and the targeting of Iranian nuclear facilities. In a statement, the Ministry of Foreign Affairs called for an immediate halt to the escalation to avoid " dangerous consequences" and prevent the region from sliding into "new levels" of instability. It stressed the need to "prioritise diplomacy and dialogue to resolve disputes, within comprehensive approaches that achieve stability, prosperity, and justice" after the US bombed Iranian nuclear sites. The ministry reiterated its call on the international community to "mobilise efforts toward a comprehensive resolution to these sensitive and d angerous developments, in a way that spares the region and its people the scourge of conflict". The UAE also urged the United Nations and the UN Security Council to "shoulder their responsibilities by actively working to resolve the region's chronic issues, which are now at a critical juncture and pose an increasing threat to both regional and international security". The ministry reaffirmed the UAE's belief that "wisdom and responsibility, especially in such circumstances, require serious engagement in addressing crucial issues" through negotiation. It emphasised the importance of "learning from the region's historical conflicts and wars—and the hard lessons they offer".

Khaleej Times

an hour ago

• Khaleej Times

UAE confirms no significant impact after US strikes Iran nuclear sites

UAE's nuclear authority on Sunday said US' attack on Iran's nuclear sites had no significant impact on the country. The Federal Authority for Nuclear Regulation (FANR) has stated that the relevant national authorities are closely monitoring developments related to nuclear facilities in Iran. It affirmed that it is constantly aware of and following up on developments, in coordination with international partners, including the International Atomic Energy Agency (IAEA), and is receiving periodic updates from official channels. It also called on the public to obtain information from official sources and avoid circulating rumors and unconfirmed news.