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BILLIONAIRE RAY DALIO SHARES IS EXPANDING TO THE UAE
Why is the world's largest hedge fund founder moving to UAE?
496 Words | 2 min 7 Sec Read
Welcome to another issue of Passionate Income.
After a long-standing 30-year relationship between Ray Dalio and The UAE, The Dalio Family Office buys a seafront mansion in Abu Dhabi as an official move to the UAE.
“I have had more than 30 years of meaningful work and meaningful relationships with the people and leadership in Abu Dhabi which has led me to like and admire them greatly.”
As his reasons for the move, Dalio says:
“The UAE is a renaissance state. What I mean is, I look for fundamentally, do you earn more than you spend?
Do you have a good income statement?
Do you have a good balance sheet?
Are your assets greater than your liabilities?”
Do you have a culture in which there’s the development of people and the working together of those people to be productive?
Are you outside of a great power conflict?
Are you in the middle of the war?
Or are you outside the war?
And so I look at that around the world as to the places I want to invest in, the places I want to be. And this region is very, very attractive and is at the takeoff point.”
Moreover, The Dubai International Finance Centre is reportedly welcoming 50 international hedge funds. Earlier this February 2023, Jersey-based hedge fund Brevan Howard Asset Management opened an office in Abu Dhabi.
Other hedge funds that have been set up in the UAE in the last two years include UK-based Florin Court Capital, Balyasny Asset Management, BlueCrest Capital Management and Exodus Point Capital Management.
The team at Enterprise Growth Partners has shared the privilege of supporting 7 hedge funds to establish a firm presence in Dubai alongside 350+ LLCs, trusts, and holding companies.
Book a call with Enterprise Growth Partners for a personalized consultation to find out whether it would be a good move for you to situate yourself in the safest tax haven and the fastest-growing economy in the world.
💡 Takeaway: While first-world countries offer the most economic opportunity, they also penalize their citizens with the highest taxes. By taking advantage of legal wealth protection and tax optimization strategies, however, savvy entrepreneurs can hit their financial goals faster.
I'll leave you with this quote…
"One thing is clear: The Founding Fathers never intended a nation where citizens would pay nearly half of everything they earn to the government.”
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