Latest news with #millionaireMigration
Khaleej Times
5 days ago
- Business
- Khaleej Times
UAE to attract over 9,800 millionaires in 2025, many from UK, Pakistan, Iran, Lebanon
The UAE remains the world's top destination for millionaire migration, as it is expected to attract the highest number of high-net-worth individuals in 2025, with more than 9,800 relocating to the Emirates. According to Henley & Partners' study released by international investment migration advisory firm Henley & Partners and global wealth intelligence firm New World Wealth, the UAE is estimated to attract $63 billion (Dh231 billion) in wealth due to the migration of millionaires. The millionaire migration to the UAE nearly doubled, from 98 per cent in 2014 to 2024, it said. "The UAE retains its crown as the world's leading wealth magnet, with a record net inflow of over 9,800 relocating millionaires expected this year — over 2,000 more than the US in second place," the global residency and citizenship company said. The number of millionaires with assets of over $1 million in the UAE is expected to increase to 130,500, while the population of centi-millionaires with assets exceeding $100 million is projected to reach 325. The UAE will be home to 28 billionaires. Stay up to date with the latest news. Follow KT on WhatsApp Channels. "The UAE has engineered perhaps the most successful wealth attraction strategy of the modern era. Forecast to see a net inflow of 9,800 millionaires in 2025, with an estimated collective investable wealth of around $63 billion, the UAE has evolved from regional hub to global wealth nexus through comprehensive policy innovation," said Dr Juerg Steffen, CEO at Henley and Partners. "The UAE's appeal rests on multiple factors beyond its welcoming immigration policy. Zero income tax, world-class infrastructure, political stability, and a regulatory framework that treats capital as a partner rather than a prey have created a compelling proposition. Its 2019 Golden Visa programme, refined in 2022 to expand eligibility and streamline processes, provides structured pathways that complement these broader advantages," he said. Steffen elaborated that the UAE's success represents a holistic approach to wealth attraction encompassing lifestyle, business environment, and strategic positioning. Iran, Lebanon, UK top sources "If one reviews the fastest growing wealth markets in the world over the past decade, it is noticeable that most of these countries are either popular destinations for migrating millionaires — such as Montenegro, the UAE, Malta, the USA, and Costa Rica — or emerging market tech hubs like China, India, and Taiwan. This demonstrates the importance of millionaire migration in driving new wealth formation in a country," said Andrew Amoils, head of research at New World Wealth. Due to geopolitical and economic volatility in Lebanon, Iran and Pakistan, many wealthy individuals are relocating to the UAE and other countries. In terms of their top migration destinations from the UK, most are relocating to the UAE, USA, Italy, and Switzerland, said Dr Juerg Steffen. The study pointed out that affluent individuals are relocating to tax-friendly jurisdictions such as the UAE, Monaco, and Malta, as well as to lifestyle havens including Italy, Greece, Portugal, and Switzerland. "Many high-earning executives are settling in the expanding wealth hubs of Dubai, Florida, Milan, St. Julian's, Lisbon, the Athenian Riviera, Zug, and Lugano." It said the Golden Visa options has also "reinforced the UAE's position as one of the world's most sought-after wealth haven." Globally, a record 142,000 millionaires are projected to relocate internationally this year, with the UK expected to see the largest net outflow of high-net-worth individuals (HNWIs) by any country in the past 10 years. The study noted that the UK is forecast to lose a staggering 16,500 millionaires in 2025 — more than double the anticipated 7,800 net outflows from China, which is ranked second this year after topping the millionaire-loser leaderboard every year over the past decade. "2025 marks a pivotal moment. For the first time in a decade of tracking, a European country leads the world in millionaire outflows. This isn't just about changes to the tax regime. It reflects a deepening perception among the wealthy that greater opportunity, freedom, and stability lie elsewhere. The long-term implications for Europe and the UK's economic competitiveness and investment appeal are significant," said Dr Juerg Steffen. The UK is not alone in its struggles. For the first time, EU heavyweights France, Spain, and Germany are expected to see net HNWI losses in 2025 — with projected net outflows of 800,0 500 and 400 millionaires, respectively.
Associated Press
5 days ago
- Business
- Associated Press
Millionaires on the Move: UK Braces for Historic Wealth Flight as Global Migration Peaks
LONDON, June 24, 2025 /PRNewswire/ -- A record-breaking 142,000 millionaires are projected to relocate this year, with the UK expected to see the largest net outflow of high-net-worth individuals by any country since international investment migration advisory firm Henley & Partners and global wealth intelligence firm New World Wealth began tracking millionaire migration 10 years ago. According to the Henley Private Wealth Migration Report 2025, the UK is forecast to lose a staggering –16,500 millionaires in 2025 — more than double the anticipated –7,800 net outflow from China, ranked 2nd this year after topping the millionaire-loser leaderboard for the past decade. In stark contrast, the UAE retains its crown as the world's leading wealth magnet, with a record net inflow of +9,800 relocating millionaires expected this year — over 2,000 more than the US in 2nd place. +7,500 new wealthy migrants are forecast to make America home by year-end. Dr. Juerg Steffen, CEO at Henley & Partners, says '2025 marks a pivotal moment. For the first time in a decade of tracking, a European country leads the world in millionaire outflows. This isn't just about changes to the tax regime. It reflects a deepening perception among the wealthy that greater opportunity, freedom, and stability lie elsewhere. The long-term implications for Europe and the UK's economic competitiveness and investment appeal are significant.' For the first time, EU heavyweights France, Spain, and Germany are also expected to see net HNWI losses in 2025 — with projected net outflows of –800, –500, and –400 millionaires, respectively. Ireland (–100), Norway (–150), and Sweden (–50) are beginning to see significant wealth losses too, with many affluent Europeans relocating to more investor-friendly hubs on the continent. Global winners: Where the wealth is heading Key beneficiaries of this trend are Switzerland, set to attract a net gain of +3,000 migrating millionaires this year, while Italy, Portugal, and Greece are also forecast to see record inflows of +3,600, +1,400 and +1,200, respectively — driven by favorable tax regimes, lifestyle appeal, and active investment migration programs. Outside of Europe, Saudi Arabia is the biggest riser on this year's inbound list, projected to see a net inflow of +2,400 new millionaires. Traditional destinations such as Singapore ( +1,600 ), Australia (+1,000), Canada (+1,000), and New Zealand (+150) appear to be losing their appeal, with their lowest net inflows on record provisionally expected in 2025. Thailand (+450) is rapidly emerging as Southeast Asia's new safe haven, with Bangkok positioning itself as a key rival to Singapore. Hong Kong ( +800 ) and Japan (+600) are forecast to enjoy higher HNWI inflows this year, while Central American and Caribbean jurisdictions — including Costa Rica ( +350 ), Panama (+300), the Cayman Islands (+200), and Bermuda (+50) — are all set to attract record numbers of wealthy migrants to their shores. Three African nations — Morocco (+100), Mauritius (+100), and the Seychelles (+50) — make it onto the inbound millionaire migration rankings for 2025. Global losers: Where the wealth is leaving In Asia, South Korea is expected to see significant net outflows of HNWIs ( –2,400 ), more than double last year's figure. Vietnam (–300) is also beginning to see a worrying uptick in millionaire departures, and Pakistan (–100) continues to lose millionaires to the UAE. Taiwan (–100) presents a mixed picture: while its tech-driven economy remains robust with +65% millionaire growth over the past decade, growing tensions with China and a lack of luxury real estate options appear to be unsettling some of its wealthiest residents. Despite ongoing instability in the Middle East, Israel is expected to show relatively modest outflows ( –350 ), primarily to the US, while Lebanon (–200) faces concerning losses, with many wealthy individuals relocating to Cyprus, Greece, and the UAE. Iran (–200) is also losing HNWIs to the UAE. In Latin America, Brazil ( –1,200 ) and Colombia (–150) are both expected to see sizeable wealth drains, while the other BRICS nations — China ( –7,800 ), India (–3,500), Russia (–1,500), and South Africa (–250) — are all on track to record their lowest net millionaire losses since Covid. Read the Full Release View original content: SOURCE Henley & Partners
Yahoo
5 days ago
- Business
- Yahoo
Millionaires on the Move: UK Braces for Historic Wealth Flight as Global Migration Peaks
LONDON, June 24, 2025 /CNW/ -- A record-breaking 142,000 millionaires are projected to relocate this year, with the UK expected to see the largest net outflow of high-net-worth individuals by any country since international investment migration advisory firm Henley & Partners and global wealth intelligence firm New World Wealth began tracking millionaire migration 10 years ago. According to the Henley Private Wealth Migration Report 2025, the UK is forecast to lose a staggering –16,500 millionaires in 2025 — more than double the anticipated –7,800 net outflow from China, ranked 2nd this year after topping the millionaire-loser leaderboard for the past decade. In stark contrast, the UAE retains its crown as the world's leading wealth magnet, with a record net inflow of +9,800 relocating millionaires expected this year — over 2,000 more than the US in 2nd place. +7,500 new wealthy migrants are forecast to make America home by year-end. Dr. Juerg Steffen, CEO at Henley & Partners, says "2025 marks a pivotal moment. For the first time in a decade of tracking, a European country leads the world in millionaire outflows. This isn't just about changes to the tax regime. It reflects a deepening perception among the wealthy that greater opportunity, freedom, and stability lie elsewhere. The long-term implications for Europe and the UK's economic competitiveness and investment appeal are significant." For the first time, EU heavyweights France, Spain, and Germany are also expected to see net HNWI losses in 2025 — with projected net outflows of –800, –500, and –400 millionaires, respectively. Ireland (–100), Norway (–150), and Sweden (–50) are beginning to see significant wealth losses too, with many affluent Europeans relocating to more investor-friendly hubs on the continent. Global winners: Where the wealth is heading Key beneficiaries of this trend are Switzerland, set to attract a net gain of +3,000 migrating millionaires this year, while Italy, Portugal, and Greece are also forecast to see record inflows of +3,600, +1,400 and +1,200, respectively — driven by favorable tax regimes, lifestyle appeal, and active investment migration programs. Outside of Europe, Saudi Arabia is the biggest riser on this year's inbound list, projected to see a net inflow of +2,400 new millionaires. Traditional destinations such as Singapore (+1,600), Australia (+1,000), Canada (+1,000), and New Zealand (+150) appear to be losing their appeal, with their lowest net inflows on record provisionally expected in 2025. Thailand (+450) is rapidly emerging as Southeast Asia's new safe haven, with Bangkok positioning itself as a key rival to Singapore. Hong Kong (+800) and Japan (+600) are forecast to enjoy higher HNWI inflows this year, while Central American and Caribbean jurisdictions — including Costa Rica (+350), Panama (+300), the Cayman Islands (+200), and Bermuda (+50) — are all set to attract record numbers of wealthy migrants to their shores. Three African nations — Morocco (+100), Mauritius (+100), and the Seychelles (+50) — make it onto the inbound millionaire migration rankings for 2025. Global losers: Where the wealth is leaving In Asia, South Korea is expected to see significant net outflows of HNWIs (–2,400), more than double last year's figure. Vietnam (–300) is also beginning to see a worrying uptick in millionaire departures, and Pakistan (–100) continues to lose millionaires to the UAE. Taiwan (–100) presents a mixed picture: while its tech-driven economy remains robust with +65% millionaire growth over the past decade, growing tensions with China and a lack of luxury real estate options appear to be unsettling some of its wealthiest residents. Despite ongoing instability in the Middle East, Israel is expected to show relatively modest outflows (–350), primarily to the US, while Lebanon (–200) faces concerning losses, with many wealthy individuals relocating to Cyprus, Greece, and the UAE. Iran (–200) is also losing HNWIs to the UAE. In Latin America, Brazil (–1,200) and Colombia (–150) are both expected to see sizeable wealth drains, while the other BRICS nations — China (–7,800), India (–3,500), Russia (–1,500), and South Africa (–250) — are all on track to record their lowest net millionaire losses since Covid. Read the Full Release View original content: SOURCE Henley & Partners View original content:
