This small nation is becoming the world's hottest millionaire magnet in 2025
The world's richest are on the move, swapping traditional havens like Switzerland, the US and the UAE for a surprising Eastern European hotspot.
Now being called the world's fastest-growing millionaire hub, Montenegro has witnessed a 124% increase in the number of millionaires in the last 10 years, according to the Henley Private Wealth Migration Report 2025.
With over 2,800 millionaires, the Balkan nation remains especially attractive due to its European proximity and fiscal flexibility, according to Henley & Partners' group head of private clients Dominic Volek.
'Montenegro's low-tax regime, with flat income taxes and no inheritance or gift tax, has made it particularly attractive for wealth preservation. Paired with its Adriatic coastline, luxury real estate offerings, and appealing Mediterranean lifestyle, the country has become a destination of choice for lifestyle-motivated investors," Volek told Fortune.
Similarly, the UAE has emerged as a top destination for high-net-worth migrants, thanks to its political stability, business-friendly environment and attractive Golden Visa program. These factors have helped the nation stand out globally, with an expected net gain of around 9,800 millionaires this year, the highest of any country.
Meanwhile, several European countries such as Montenegro, Malta, and Poland are seeing notable growth in their millionaire populations. However, other parts of the continent are experiencing the opposite trend, with wealthy residents moving abroad. For the first time in a decade, a European nation tops the global list for millionaire outflows, led by the UK.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
33 minutes ago
- Time of India
Trade war: Will US impose tariffs on gold? Here's what Donald Trump said
US President Donald Trump said on Monday that gold imports will not face additional tariffs, ending days of uncertainty that had rattled global bullion markets and sent futures prices to record highs. "Gold will not be Tariffed!" Trump said in a statement on his Truth Social account, without providing further details. His remarks followed confusion triggered by a US Customs and Border Protection letter that appeared to classify two standard gold bar weights — one kilogram and 100 ounces (2.8 kilos) — as subject to duties. According to Reuters, the ruling posted on the customs website last week had raised concerns that Washington might place the most widely traded bullion bars in the United States under country-specific import tariffs, potentially disrupting global supply chains. A White House official told Reuters on Friday that the administration was preparing an executive order 'clarifying misinformation' about tariffs on gold bars and other specialty products. The customs letter, dated July 31 and first reported by the Financial Times, had spurred a surge in gold prices, with December delivery contracts hitting a record high on the Comex, the world's largest futures market. One-kilo bars comprise the bulk of Switzerland's bullion exports to the United States, and a 39 percent levy under Trump's 'reciprocal' tariffs had been seen as a major risk for the European nation, a key refining and transit hub. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like If Your Ears Ring, Stop Sleeping Like This Immediately Derila Ergo Undo "Delighted to hear the crisis has been averted," independent gold market analyst Ross Norman told Reuters. "It will come as an enormous relief to the bullion markets, as the potential for disruption was incalculable." Following Trump's post, US gold futures fell 2.4 percent to $3,407 per ounce, narrowing the premium over spot gold, which dropped 1.2 percent to $3,357. Shares of Barrick Mining fell 2.8 percent after posting quarterly results, while Newmont, the world's largest gold miner, slipped slightly to $68.87. Gold, considered a safe-haven asset, has already touched record highs this year amid tariff tensions and geopolitical unrest. Stay informed with the latest business news, updates on bank holidays , public holidays , current gold rate and silver price .
Economic Times
an hour ago
- Economic Times
SBI halts Nayara transactions over US tariffs, sanctions risk
Synopsis State Bank of India has ceased processing trade and foreign currency transactions for Nayara Energy due to potential US sanctions following recent tariff increases. This decision aims to prevent SBI from facing US and European Union restrictions. The move follows EU sanctions restricting Russian fuel imports and a price cap on Russian crude, impacting banks with international operations. Reuters State Bank of India (SBI) has stopped processing trade and foreign currency transactions of Nayara Energy over potential sanctions after US tariff increases late last month. The bank took the call to ensure it doesn't invite US and European Union curbs, a person familiar with the issue said."This call has been taken by the bank very recently after the US sanctions to ensure compliance with international rules," said the person cited above. "There has been no government direction, but every bank has to take a call on how to deal with these issues and SBI has done so."In August 2017, a consortium lead by Russian oil major Rosneft acquired Essar Oil's 20 mtpa Vadinar refinery and renamed it as Nayara Energy. The company imports crude oil from overseas and currently has a market share of about 8% of India's refining output that, at more than over 256 MMTPA, is the second largest in Asia. Nayara also has more than 6,500 fuel pumps across the like Reliance Industries, imports crude from abroad and refines it into usable fuel like petrol and diesel for markets in Europe and Middle East besides of course selling it in company's problems started earlier in July when the European Union implemented its 18th sanctions package against Russia, restricting fuel imports from the Russian market and introducing a $47.6 per barrel price cap on Russian crude. "These European sanctions imposed on July 18 were the last straw. All banks with international branches and operations have to adhere to the government laws to ensure that they do not attract regulatory scrutiny," said the person cited above. "The last European sanctions along with the US tariffs imposed after that have made the processing of transactions for Nayara difficult."
Time of India
an hour ago
- Time of India
SBI halts Nayara transactions over US tariffs, sanctions risk
State Bank of India (SBI) has stopped processing trade and foreign currency transactions of Nayara Energy over potential sanctions after US tariff increases late last month. The bank took the call to ensure it doesn't invite US and European Union curbs, a person familiar with the issue said. "This call has been taken by the bank very recently after the US sanctions to ensure compliance with international rules," said the person cited above. "There has been no government direction, but every bank has to take a call on how to deal with these issues and SBI has done so." Finance Value and Valuation Masterclass Batch-1 By CA Himanshu Jain View Program Finance Value and Valuation Masterclass - Batch 2 By CA Himanshu Jain View Program Finance Value and Valuation Masterclass - Batch 3 By CA Himanshu Jain View Program Artificial Intelligence AI For Business Professionals By Vaibhav Sisinity View Program Finance Value and Valuation Masterclass - Batch 4 By CA Himanshu Jain View Program Artificial Intelligence AI For Business Professionals Batch 2 By Ansh Mehra View Program In August 2017, a consortium lead by Russian oil major Rosneft acquired Essar Oil's 20 mtpa Vadinar refinery and renamed it as Nayara Energy. The company imports crude oil from overseas and currently has a market share of about 8% of India's refining output that, at more than over 256 MMTPA, is the second largest in Asia. Nayara also has more than 6,500 fuel pumps across the country. Nayara, like Reliance Industries, imports crude from abroad and refines it into usable fuel like petrol and diesel for markets in Europe and Middle East besides of course selling it in India. The company's problems started earlier in July when the European Union implemented its 18th sanctions package against Russia, restricting fuel imports from the Russian market and introducing a $47.6 per barrel price cap on Russian crude. Live Events "These European sanctions imposed on July 18 were the last straw. All banks with international branches and operations have to adhere to the government laws to ensure that they do not attract regulatory scrutiny," said the person cited above. "The last European sanctions along with the US tariffs imposed after that have made the processing of transactions for Nayara difficult."
