UAE Ranks Among Top Destinations for German Millionaires Seeking Relocation
Key Survey Findings
The survey, conducted between February 24 and March 3, 2025, included 1,000 German millionaires aged 18 to 70 with a net worth of at least €1 million, 18% of whom have over €5 million.
The UAE ranked seventh globally in the list of preferred relocation destinations.
The top six destinations for German millionaires include Canada, Australia, the US, New Zealand, Spain, and the Netherlands.
Why German Millionaires Are Choosing the UAE
Armand Arton, CEO of Arton Capital, highlighted several factors driving the shift:
Geopolitical and Economic Concerns: The German economy has struggled to recover post-COVID, with additional burdens from the Ukraine-Russia war leading to soaring energy costs and declining productivity.
The German economy has struggled to recover post-COVID, with additional burdens from the Ukraine-Russia war leading to soaring energy costs and declining productivity. Stability and Safety: Wealthy individuals prioritize security, and the UAE provides a safe environment where they can freely enjoy their assets, including luxury cars and properties.
Wealthy individuals prioritize security, and the UAE provides a safe environment where they can freely enjoy their assets, including luxury cars and properties. Favorable Tax Policies: Unlike other financial hubs such as Switzerland, Monaco, or Singapore, the UAE does not impose personal income tax, making it an attractive destination for high-net-worth individuals.
Unlike other financial hubs such as Switzerland, Monaco, or Singapore, the UAE does not impose personal income tax, making it an attractive destination for high-net-worth individuals. Booming Real Estate Market: Many relocating millionaires invest in UAE's luxury real estate sector, either for personal use or as an investment.
The UAE's Growing Appeal for HNWIs
According to Henley & Partners, the UAE remains the world's leading destination for millionaire migration, with an expected net inflow of over 6,700 millionaires in 2024—more than any other country. The country continues to attract investors from India, Africa, Europe, and the Middle East, reinforcing its status as a global wealth hub.
The Global Race for HNWIs
Arton noted that wealthy Germans are increasingly seeking a 'Plan B' outside their home country. With political fatigue setting in, demand for alternative citizenship and relocation options is rising across Europe. Countries worldwide are competing to attract millionaires, offering incentives ranging from favorable tax policies to golden visa programs.
As economic and political shifts continue, the UAE's business-friendly environment, strategic location, and investor-friendly policies ensure it remains a top choice for wealthy expatriates looking for long-term residency.
News Source: Khaleej Times
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