When a highly successful entrepreneur publicly says, “Time to pack my bags,” it usually makes headlines. When that entrepreneur is Bassem Haidar, the Lebanese-Nigerian billionaire behind multiple global telecom and fintech ventures, it becomes a signal of deeper shifts in the global wealth landscape. In response to the UK’s 2024 cancellation of the non-dom tax regime, Haidar joined a growing list of elite investors considering exits—and he named Dubai as a top destination.
This article explores Haidar’s reasons for reassessing his UK residency, the implications of the tax changes, and why Dubai is emerging as the go-to jurisdiction for high-net-worth entrepreneurs.
Bassem Haidar is the founder and CEO of Channel IT and Optasia, global companies operating in telecommunications, mobile financial services, and AI-driven financial platforms. His businesses serve millions of users across Africa, the Middle East, and Asia.
Based in London for years, Haidar built a life and corporate base in the UK. But recent tax reforms made him publicly rethink his position.
The abolition of the UK’s non-dom tax status means that individuals like Haidar are now taxed on worldwide income, regardless of the source or use of funds. This shift greatly increases exposure for globally invested entrepreneurs who rely on international business structures.
Haidar did not mince words:
“My tax bill will increase five to seven times. That’s not sustainable. Time to pack my bags.”
This comment reflects a growing frustration among foreign entrepreneurs who feel penalized for global success.
Unlike traditional tax havens that offer secrecy, Dubai offers transparency, legal stability, and modern infrastructure—all without income or capital gains taxes. For someone like Haidar, who runs operations across multiple continents, Dubai presents a strategic advantage.
Tax-Free Business Environment
0% income and capital gains tax
Streamlined setup of holding companies and operational entities
Access to Emerging Markets
Dubai serves as a regional base for Africa, Asia, and MENA — aligning with Haidar’s business footprint.
World-Class Infrastructure
Access to global banking, legal services, logistics, and venture capital.
Reputation and Lifestyle
Safe, high-end environment suitable for HNWIs and their families
Permanent residency and Golden Visa programs with high flexibility
Unlike investors who operate quietly, Haidar’s vocal departure highlighted the UK’s failure to anticipate the behavioral response from the non-dom community. His reaction underlines a few truths:
Investors are mobile: They will go where they feel treated fairly.
Tax isn’t the only factor, but it is a major one when it affects cross-border operations.
Dubai is not a fallback — it is now a first-choice financial and personal residence.
Haidar’s consideration of Dubai adds to a list of global entrepreneurs and billionaires relocating or opening regional hubs in the UAE. The reasons are clear:
A pro-business government
A stable geopolitical position in a volatile region
Modern financial regulations, particularly in DIFC (Dubai International Financial Centre)
A focus on innovation in fintech, telecom, and digital identity — all key to Haidar’s sectors
Dubai is not just a tax haven. It is a digital-forward, entrepreneur-led economy that aligns with the future of tech-driven wealth creation.
Bassem Haidar’s response to the UK’s non-dom reform is not just personal frustration. It is part of a global shift in how and where successful entrepreneurs choose to operate. His openness about seeking alternatives—and pointing to Dubai as a top contender—should serve as a wake-up call for tax-heavy jurisdictions.
For global entrepreneurs, Dubai is now a trusted financial base, an innovation partner, and a secure long-term home.
At Bonne Apart, we assist investors, founders, and high-net-worth individuals in setting up their base in Dubai. From property acquisition to Golden Visa processing, we deliver end-to-end solutions tailored to your lifestyle and investment goals.
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