UAE tops list for millionaire migration in 2025
Abu Dhabi: The United Arab Emirates (UAE) is projected to attract the highest number of millionaire migrants globally in 2025, with a net influx of 9,800 high-net-worth individuals (HNWIs), according to the Wealth Migration Report 2025 by Henley & Partners and New World Wealth.
This marks a significant rise from 6,700 HNWI arrivals in 2024, reinforcing the UAE’s position as the world’s leading destination for wealth migration. HNWIs are defined as individuals with more than USD 1 million in liquid assets.
The UAE’s favourable tax policies, political stability, and investor-friendly environment continue to attract affluent individuals from across the globe. The country’s long-term residency schemes, such as the Golden Visa programme, play a key role in drawing international investors, entrepreneurs, and wealthy families.
Global shift in wealth migration
The United States is expected to receive 7,500 millionaire migrants in 2025, ranking second globally, followed by Italy and Switzerland. Saudi Arabia is also seeing remarkable growth, with 2,400 inbound millionaires projected this year — an eightfold increase compared to 2024.
Other top destinations include Australia, Singapore, Portugal, and Greece, most of which operate formal investment migration programmes that offer residency or citizenship in return for capital investments.
Top 10 countries gaining the most millionaires in 2025
| Rank | Country | Millionaire migration | Estimated wealth of migrants (USD bn) |
|---|---|---|---|
| 1 | UAE | 9,800+ | 63.0 |
| 2 | USA | 7,500+ | 43.7 |
| 3 | Italy | 3,600+ | 20.7 |
| 4 | Switzerland | 3,000+ | 16.8 |
| 5 | Saudi Arabia | 2,400+ | 18.4 |
| 6 | Singapore | 1,600+ | 8.9 |
| 7 | Portugal | 1,400+ | 8.1 |
| 8 | Greece | 1,200+ | 7.7 |
| 9 | Canada | 1,000+ | 5.7 |
| 10 | Australia | 1,000+ | 5.6 |
Countries experiencing HNWI outflows
On the other hand, the United Kingdom is forecast to experience the largest net outflow of millionaires, with 16,500 HNWIs expected to relocate elsewhere in 2025. China is set to lose 7,800 millionaires, while India and South Korea are likely to see net outflows of 3,500 and 2,400 respectively.
Several major European economies are also projected to lose wealthy residents, including France (-800), Spain (-500), and Germany (-400). Ireland, Norway, and Sweden are forecast to witness smaller, yet notable, declines in their HNWI populations.
Top 10 countries losing the most millionaires in 2025
| Rank | Country | Millionaire migration | Estimated wealth of migrants (USD bn) |
|---|---|---|---|
| 1 | United Kingdom | -16,500 | 91.8 |
| 2 | China | -7,800 | 55.9 |
| 3 | India | -3,500 | 26.2 |
| 4 | South Korea | -2,400 | 15.2 |
| 5 | Russia | -1,500 | 14.7 |
| 6 | Brazil | -1,200 | 8.4 |
| 7 | France | -800 | 4.4 |
| 8 | Spain | -500 | 3.1 |
| 9 | Germany | -400 | 2.2 |
| 10 | Israel | -350 | 2.5 |
In total, a record 142,000 millionaires are expected to relocate globally in 2025 — the highest figure ever recorded.
Why the wealthy are relocating
According to the report, high-net-worth families are choosing to relocate for a combination of reasons:
- Personal safety and political stability
- Favourable tax regimes and financial freedom
- Retirement and estate planning
- Better business and career prospects
- Lifestyle upgrades, including climate and green spaces
- Access to world-class healthcare and education
Economic benefits for destination countries
The influx of millionaires brings wide-ranging economic advantages:
- Foreign exchange gains: Wealthy migrants bring capital, boosting a country’s forex reserves.
- New businesses: Many HNWIs start companies, creating jobs and stimulating local economies.
- Stock market impact: Their investments strengthen local financial markets and listings.
- Job creation: Spending in sectors like luxury, real estate, and tech drives employment.
- Wealth multiplier: Inward migration raises asset values and boosts local wealth.
- Middle-class uplift: Businesses founded by millionaires often generate well-paying jobs
Tax advantages driving millionaire migration
Tax differences between countries remain a key reason behind rising millionaire migration. Capital gains tax and estate duties are often the main considerations for relocating HNWIs.
Most top destinations — including the UAE, Singapore, Australia, Canada, and Switzerland — either do not impose estate duties or keep rates very low. Similarly, several wealth hubs such as the UAE, Bermuda, Cayman Islands, Hong Kong, and Mauritius do not levy capital gains tax, making them especially attractive to wealthy individuals, particularly in finance.
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