The UK government is trying to turn the current geopolitical tensions into an opportunity, encouraging thousands of Britons to consider relocating from Dubai, amid war in the region affecting the city's image as a safe haven, CNBC notes. Around 240,000 British citizens live in the United Arab Emirates. For years, they have been attracted by the lack of income tax, security, international schools and a lifestyle considered attractive. But, in the context in which missiles are intercepted over the capitals of the Gulf and air transport is disrupted, the stability of expat life in Dubai is beginning to be called into question. British Chancellor of the Exchequer Rachel Reeves recently touted the UK's competitive tax system, describing it as one of the most favorable in the G7 and trying to attract investment and listings to London. She hopes Britain will be perceived as a «safe economy» for wealthy expats, and the Treasury is considering possible changes to tax rules. For the United Kingdom, the stakes are high: thousands of entrepreneurs have left the country in recent years, with the United Arab Emirates being the most popular destination, followed by Spain and the United States. The phenomenon is particularly concentrated in London and the south-east of England and is strongly visible in the technology sector, where approximately one in ten founders has chosen to relocate abroad.
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