Sunil Sharma has settled in his new life in Dubai much more easily than he initially thought he would. Until a few months ago, the 31-year-old financial services professional was based in the City of London, commuting in daily from the town of Maidenhead, around 30 miles to west of the UK capital. But, recently married, he’d become increasingly disillusioned with life in Britain.
“I suggested to my boss that potentially I could move here [Dubai]” he told The National. “We have an office here, so it kind of made a lot of sense. The general UK decline played a massive role in terms of making the decision to move. I could have carried on doing what I was doing, which was travelling to the Middle East once a quarter.
“Part of the decision was the brilliant opportunity in Dubai in general, but a massive part were the tax increases [in the UK], the safety issue especially in London, no real growth or prosperity and a general downbeat feeling.”
Almost half of expats report improved mental health within the first six months [of] moving overseas
Nigel Fox,
Currencies Direct
Neil Carberry, chief executive of the Recruitment and Employments Confederation feels there are some things that are really driving heavier than usual mobility at the moment. “There’s an awareness, particularly among young professionals in the UK, that their skill sets are valued in other countries,” he told The National.
While part of the motivation to relocate overseas is financial, part emotional and part political, it’s entirely personal. For Mr Sharma, safety in London was issue, given the rise in petty theft on the city’s streets. “I would get [intra-company] emails saying ‘when you leave the office, don’t pull your phone out’, because someone can steal it,” he said.
But the experience and skills that young professionals in the 25-35 year old age bracket can glean in the City of London is attractive to overseas companies and multinationals.
Last week, a report from New World Wealth and Henley & Partners showed while London attracted millionaires and their families between the 1950s and the early 2000s, that trend has slowly reversed over the past decade. Between 2017 and 2023, the report claimed, the UK lost 16,500 millionaires to migration. In addition, provisional estimates for last year show a net outflow of 9,500 millionaires projected for 2024 alone, with the top destinations expected to include Paris, Dubai and Singapore.
In addition, according to Morgan McKinley’s 2024 London Employment Monitor, London’s financial services sector has seen a sharp fall in job availability. Job postings dropped 18 per cent between the third quarter to the final quarter of last year and fell by 28 per cent as a whole in 2024, when compared to the previous year.
“These stark figures paint a sobering picture of an industry grappling with mounting challenges, including economic volatility, geopolitical uncertainty, strategic overhauls, and the rapid pace of technological disruption,” said Mark Astbury, director of projects, change and transformation at Morgan McKinley.
“Additionally, our finance teams have seen candidates pursuing roles in global financial hubs like Dubai and Singapore. These markets offer strong growth and competitive career prospects, making them attractive, despite London’s established financial reputation,” he told The National.
‘A great opportunity’
British newspapers have been quick to point out the almost contradictory position of the UK government, which on the one hand emphasises the need to attract foreign wealth into the country, while at the same time moulds tax policies which seem to be giving cause for wealthy individuals and entrepreneurs to leave.
But while the headlines usually concern ultra-high net worth individuals and millionaires, little attention has been given to the likes of Mr Sharma, who represents the future of British entrepreneurship and wealth.
“I can’t think of one person who I spoke to who said, ‘are you sure this is a wise move?’” he told The National. “Every single person was overwhelmingly upbeat – ‘a great opportunity’, they said. I was really, really surprised by the number of people who said they were also looking to relocate.”
Denis Kravchenko, business development manager in Cyprus for the international relocation company Astons, is not surprised. For him, various factors have given young, skilled people enhanced global mobility in recent times, not least the reach of the internet. “We do have a lot of British clients,” he told The National. “Fifteen years ago, the average age would have been 45-plus. It’s much, much different now – it’s between 30-45 years old.”
“For a lot of younger people, their source of income is remote,” he added. “They are able to generate their income remotely and from the perspective it doesn’t really make any difference where you are physically. So, with that in mind, obviously you would want to relocate to somewhere safer with a better climate.”
Andrew Marr, managing partner at Forbes Dawson tax specialists, agrees: “These kind of people have been trained to work location-independently during covid,” he told The National. “If they can persuade an employer to let them work from home, then why not go abroad and tap into some tax benefits?”
For Mr Carberry it’s not just the ability to work from anywhere in the world, but the fact that job searches for young professionals in London’s finance sector will now, more often than not, have a global dimension in the first place.
“International mobility, if people choose to engage in it, is much easier, because [for example] a job search in the US in the world of the internet is an easier thing to do, and candidates are easier in the world of LinkedIn for employers in other countries to see,” he told The National. “There is a growing awareness in some of these jurisdictions that the relative offer that employers are able to make is attractive to British professionals.”
Nearly three-quarters of 18-30 year olds in the UK would consider living and working in another country in the short or long term, according to the British Council's Next Generation UK 2024 report.
Similar research by the foreign currency traders, Currencies Direct, showed 38 per cent of those aged 25 to 34 are considering moving abroad in the next five years. “With many countries offering attractive options for both quality of life and property investment, and almost half of expats (49 per cent) report improved mental health within the first six months, moving overseas can be a rewarding decision,” said Nigel Fox, vice president at Currencies Direct.
Mr Sharma talks of an “emotive connection” with Britain, and while he still very much views the country as home, he doesn't see much that is calling him back. “I would love to raise children in the UK – that would be the ideal scenario,” he told The National.
“But at the same time, do I want to raise children in an environment where safety is always a concern, where the economy’s not growing, and the opportunities are better elsewhere? As of now [a return to the UK] seems very, very unlikely.”
The%20Emperor%20and%20the%20Elephant
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It Was Just an Accident
Director: Jafar Panahi
Stars: Vahid Mobasseri, Mariam Afshari, Ebrahim Azizi, Hadis Pakbaten, Majid Panahi, Mohamad Ali Elyasmehr
Rating: 4/5
Tips on buying property during a pandemic
Islay Robinson, group chief executive of mortgage broker Enness Global, offers his advice on buying property in today's market.
While many have been quick to call a market collapse, this simply isn’t what we’re seeing on the ground. Many pockets of the global property market, including London and the UAE, continue to be compelling locations to invest in real estate.
While an air of uncertainty remains, the outlook is far better than anyone could have predicted. However, it is still important to consider the wider threat posed by Covid-19 when buying bricks and mortar.
Anything with outside space, gardens and private entrances is a must and these property features will see your investment keep its value should the pandemic drag on. In contrast, flats and particularly high-rise developments are falling in popularity and investors should avoid them at all costs.
Attractive investment property can be hard to find amid strong demand and heightened buyer activity. When you do find one, be prepared to move hard and fast to secure it. If you have your finances in order, this shouldn’t be an issue.
Lenders continue to lend and rates remain at an all-time low, so utilise this. There is no point in tying up cash when you can keep this liquidity to maximise other opportunities.
Keep your head and, as always when investing, take the long-term view. External factors such as coronavirus or Brexit will present challenges in the short-term, but the long-term outlook remains strong.
Finally, keep an eye on your currency. Whenever currency fluctuations favour foreign buyers, you can bet that demand will increase, as they act to secure what is essentially a discounted property.
Paris Can Wait
Dir: Eleanor Coppola
Starring: Alec Baldwin, Diane Lane, Arnaud Viard
Two stars
Gothia Cup 2025
4,872 matches
1,942 teams
116 pitches
76 nations
26 UAE teams
15 Lebanese teams
2 Kuwaiti teams
Bib%20Gourmand%20restaurants
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Springtime in a Broken Mirror,
Mario Benedetti, Penguin Modern Classics
Wayne Rooney's career
Everton (2002-2004)
- Appearances: 48
- Goals: 17
Manchester United (2004-2017)
- Appearances: 496
- Goals: 253
England (2003-)
- Appearances: 119
- Goals: 53
Types of policy
Term life insurance: this is the cheapest and most-popular form of life cover. You pay a regular monthly premium for a pre-agreed period, typically anything between five and 25 years, or possibly longer. If you die within that time, the policy will pay a cash lump sum, which is typically tax-free even outside the UAE. If you die after the policy ends, you do not get anything in return. There is no cash-in value at any time. Once you stop paying premiums, cover stops.
Whole-of-life insurance: as its name suggests, this type of life cover is designed to run for the rest of your life. You pay regular monthly premiums and in return, get a guaranteed cash lump sum whenever you die. As a result, premiums are typically much higher than one term life insurance, although they do not usually increase with age. In some cases, you have to keep up premiums for as long as you live, although there may be a cut-off period, say, at age 80 but it can go as high as 95. There are penalties if you don’t last the course and you may get a lot less than you paid in.
Critical illness cover: this pays a cash lump sum if you suffer from a serious illness such as cancer, heart disease or stroke. Some policies cover as many as 50 different illnesses, although cancer triggers by far the most claims. The payout is designed to cover major financial responsibilities such as a mortgage or children’s education fees if you fall ill and are unable to work. It is cost effective to combine it with life insurance, with the policy paying out once if you either die or suffer a serious illness.
Income protection: this pays a replacement income if you fall ill and are unable to continue working. On the best policies, this will continue either until you recover, or reach retirement age. Unlike critical illness cover, policies will typically pay out for stress and musculoskeletal problems such as back trouble.
COMPANY%20PROFILE
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FA CUP FINAL
Manchester City 6
(D Silva 26', Sterling 38', 81', 87', De Bruyne 61', Jesus 68')
Watford 0
Man of the match: Bernardo Silva (Manchester City)
Timeline
2012-2015
The company offers payments/bribes to win key contracts in the Middle East
May 2017
The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts
September 2021
Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act
October 2021
Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence
December 2024
Petrofac enters into comprehensive restructuring to strengthen the financial position of the group
May 2025
The High Court of England and Wales approves the company’s restructuring plan
July 2025
The Court of Appeal issues a judgment challenging parts of the restructuring plan
August 2025
Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision
October 2025
Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange
November 2025
180 Petrofac employees laid off in the UAE
The specs
- Engine: 3.9-litre twin-turbo V8
- Power: 640hp
- Torque: 760nm
- On sale: 2026
- Price: Not announced yet
Specs
Engine: 51.5kW electric motor
Range: 400km
Power: 134bhp
Torque: 175Nm
Price: From Dh98,800
Available: Now
The biog
From: Upper Egypt
Age: 78
Family: a daughter in Egypt; a son in Dubai and his wife, Nabila
Favourite Abu Dhabi activity: walking near to Emirates Palace
Favourite building in Abu Dhabi: Emirates Palace
EXPATS
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Lulu%20Wang%26nbsp%3B%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStars%3A%3C%2Fstrong%3E%20Nicole%20Kidman%2C%20Sarayu%20Blue%2C%20Ji-young%20Yoo%2C%20Brian%20Tee%2C%20Jack%20Huston%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%204%2F5%3C%2Fp%3E%0A
More from Rashmee Roshan Lall
ETFs explained
Exhchange traded funds are bought and sold like shares, but operate as index-tracking funds, passively following their chosen indices, such as the S&P 500, FTSE 100 and the FTSE All World, plus a vast range of smaller exchanges and commodities, such as gold, silver, copper sugar, coffee and oil.
ETFs have zero upfront fees and annual charges as low as 0.07 per cent a year, which means you get to keep more of your returns, as actively managed funds can charge as much as 1.5 per cent a year.
There are thousands to choose from, with the five biggest providers BlackRock’s iShares range, Vanguard, State Street Global Advisors SPDR ETFs, Deutsche Bank AWM X-trackers and Invesco PowerShares.
What can victims do?
Always use only regulated platforms
Stop all transactions and communication on suspicion
Save all evidence (screenshots, chat logs, transaction IDs)
Report to local authorities
Warn others to prevent further harm
Courtesy: Crystal Intelligence
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Kibsons%20Cares
%3Cp%3E%3Cstrong%3ERecycling%3Cbr%3E%3C%2Fstrong%3EAny%20time%20you%20receive%20a%20Kibsons%20order%2C%20you%20can%20return%20your%20cardboard%20box%20to%20the%20drivers.%20They%E2%80%99ll%20be%20happy%20to%20take%20it%20off%20your%20hands%20and%20ensure%20it%20gets%20reused%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EKind%20to%20health%20and%20planet%3C%2Fstrong%3E%3Cbr%3ESolar%20%E2%80%93%2025-50%25%20of%20electricity%20saved%3Cbr%3EWater%20%E2%80%93%2075%25%20of%20water%20reused%3Cbr%3EBiofuel%20%E2%80%93%20Kibsons%20fleet%20to%20get%2020%25%20more%20mileage%20per%20litre%20with%20biofuel%20additives%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ESustainable%20grocery%20shopping%3C%2Fstrong%3E%3Cbr%3ENo%20antibiotics%3Cbr%3ENo%20added%20hormones%3Cbr%3ENo%20GMO%3Cbr%3ENo%20preservatives%3Cbr%3EMSG%20free%3Cbr%3E100%25%20natural%3C%2Fp%3E%0A
More Iraq election coverage:
THE%20HOLDOVERS
%3Cp%3E%3Cstrong%3EDirector%3A%20%3C%2Fstrong%3EAlexander%20Payne%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%3C%2Fstrong%3E%20Paul%20Giamatti%2C%20Da'Vine%20Joy%20Randolph%2C%20Dominic%20Sessa%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%204.5%2F5%3C%2Fp%3E%0A
Key findings of Jenkins report
- Founder of the Muslim Brotherhood, Hassan al Banna, "accepted the political utility of violence"
- Views of key Muslim Brotherhood ideologue, Sayyid Qutb, have “consistently been understood” as permitting “the use of extreme violence in the pursuit of the perfect Islamic society” and “never been institutionally disowned” by the movement.
- Muslim Brotherhood at all levels has repeatedly defended Hamas attacks against Israel, including the use of suicide bombers and the killing of civilians.
- Laying out the report in the House of Commons, David Cameron told MPs: "The main findings of the review support the conclusion that membership of, association with, or influence by the Muslim Brotherhood should be considered as a possible indicator of extremism."
More from Neighbourhood Watch
About Proto21
Date started: May 2018
Founder: Pir Arkam
Based: Dubai
Sector: Additive manufacturing (aka, 3D printing)
Staff: 18
Funding: Invested, supported and partnered by Joseph Group
Profile Idealz
Company: Idealz
Founded: January 2018
Based: Dubai
Sector: E-commerce
Size: (employees): 22
Investors: Co-founders and Venture Partners (9 per cent)
The specs
Engine: 6.2-litre supercharged V8
Power: 712hp at 6,100rpm
Torque: 881Nm at 4,800rpm
Transmission: 8-speed auto
Fuel consumption: 19.6 l/100km
Price: Dh380,000
On sale: now
Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
Race card:
6.30pm: Baniyas (PA) Group 2 Dh195,000 1,400m.
7.05pm: Maiden (TB) Dh165,000 1,400m.
7.40pm: Handicap (TB) Dh190,000 1,200m.
8.15pm: Maiden (TB) Dh165,000 1,200m.
8.50pm: Rated Conditions (TB) Dh240,000 1,600m.
9.20pm: Handicap (TB) Dh165,000 1,400m.
10pm: Handicap (TB) Dh175,000 2,000m.
