Billionaire Shravin Bharti Mittal Relocates to UAE, Exits UK Over Strict Tax Policies

Dubai, May 24, 2025 – In a high-profile move highlighting growing concerns among the global elite, Indian billionaire Shravin Bharti Mittal has officially exited the United Kingdom and relocated to the United Arab Emirates. The decision, insiders say, is rooted in the UK’s tightening tax regulations that are increasingly prompting high-net-worth individuals (HNIs) to seek more tax-friendly jurisdictions.

Shravin Mittal, the son of Bharti Group founder Sunil Bharti Mittal, is a key figure in India’s telecom and investment landscape. He has been a UK resident for several years, managing international operations and family office interests from London. His shift to the UAE underscores a broader trend of global wealth migration amid policy shifts in traditional financial hubs.

Sources close to the development confirmed that Mittal’s move came in direct response to Britain’s revised non-domicile tax regime and inheritance tax policies, which have seen a spate of pushback from the business elite. The UK’s scrapping of long-standing tax benefits for non-doms and the introduction of stricter wealth transparency rules have reportedly made London less attractive to global investors.

“The changes in the UK tax system have made it increasingly difficult for entrepreneurs to operate freely while also preserving their family wealth,” a source familiar with Mittal’s decision said on condition of anonymity.

The UAE, in contrast, offers zero personal income tax and increasingly business-friendly infrastructure, making it a magnet for wealthy families, tech entrepreneurs, and multinational investors. In recent years, the Emirates—particularly Dubai and Abu Dhabi—have emerged as safe havens for capital and human capital alike.

Mittal's departure follows a spate of other wealthy individuals and family offices who have moved operations to the Gulf. Industry experts note that the UK government’s efforts to plug tax loopholes may inadvertently result in capital flight.

While Mittal himself has yet to make a public statement, the relocation signals a potential shift in how the world’s ultra-rich view the UK as a long-term base. Analysts predict the UK could witness a broader exodus unless more competitive policies are introduced.

As global economic power continues to shift and national policies evolve, high-profile moves like Mittal's are likely to become more common, shaping not just financial flows but also diplomatic and investment strategies across continents.