Latest news with #HenleyPrivateWealthMigrationReport2024
Mint
30-04-2025
- Business
- Mint
Blending Business with Belonging: How Global Families Are Rethinking Where They Live
For globally mobile families, the meaning of 'home' is evolving. In an increasingly interconnected world, high-net-worth individuals (HNWIs) and ultra-HNWIs (UHNWIs) are rethinking what makes a destination not just viable for business, but also livable for their families. Traditional financial hubs are no longer judged solely by tax efficiency or investment access. Instead, quality of life indicators — education, healthcare, safety, infrastructure, and global connectivity — are rising to the top of decision-making frameworks. According to the Knight Frank Wealth Report 2024, 19% of UHNWIs planned to apply for a second passport or obtain new citizenship in 2024 – part of a broader movement among the ultra-wealthy to prioritize factors such as security, education, and long-term family wellbeing in their relocation decisions. Wealth mobility today is as much about where one can thrive personally as it is about where capital can grow. This recalibration of priorities is influencing how families choose their base jurisdictions — giving rise to a new class of lifestyle destinations that offer both opportunity and everyday comfort. As this shift gains momentum, could Dubai — long known for its commercial dynamism — be quietly emerging as both a business hub and a place that elite families choose to call home? According to the Henley Private Wealth Migration Report 2024, the UAE attracted over 6,700 millionaires in 2024 — the highest net inflow of any country globally. A significant portion of these individuals are choosing Dubai for its balance of global access, high-quality infrastructure, and lifestyle offerings tailored to international residents Dubai International Airport connects to more than 260 international destinations, making it one of the world's busiest international hubs. Its geographic position supports same-day business access across Europe, Asia, and Africa. In parallel, Dubai's infrastructure includes advanced mobile networks, digital ID services, and concierge support that cater to high-net-worth individuals and their families. The UAE's Golden Visa programme offers a 10-year residency to investors, professionals, and retirees, with flexible options for family members and staff. These pathways are particularly appealing to family offices planning for multi-generational relocation. Real estate plays a significant role in this trend. According to Knight Frank's Q4 2024 Dubai Residential Market Review, the emirate recorded AED 422 billion in residential transactions in 2024 — a 30% increase over the previous year. The surge was driven not only by volume but also by value, with 435 homes sold above USD 10 million, the highest tally globally for the second consecutive year. High-demand neighborhoods such as Emirates Hills, Palm Jumeirah, and Dubai Hills Estate continue to attract interest from globally mobile buyers seeking long-term lifestyle security. Dubai is home to one of the most diverse private education landscapes in the world. The Knowledge and Human Development Authority (KHDA) oversees over 200 private schools offering curricula such as IB, British, American, French, and Indian. More than 77% of these schools are rated "Good" or higher in KHDA inspections, making academic transitions smoother for expatriate families. Well-established schools such as Nord Anglia International School, GEMS World Academy, and Swiss International Scientific School serve internationally mobile families and offer academic programs aligned with global university admissions pathways. The UAE ranks among the top 20 healthcare systems globally, as per the CEOWORLD Magazine Health Care Index 2024. In Dubai, international-standard hospitals like Cleveland Clinic Abu Dhabi, King's College Hospital Dubai, and Mediclinic provide advanced care across specialties. Many facilities are internationally accredited and partner with global insurance providers — a key requirement for globally relocating families. Dubai continues to be recognised as one of the safest cities in the world. In Numbeo's 2024 Safety Index, the city scored 84.4/100, ranking above most major international capitals on crime and security measures. Safety is supported not only by policing but by digital surveillance infrastructure, low crime rates, and a culture of efficiency in urban management. In today's globalised world, does quality of life hold as much weight in relocation decisions as regulation and returns? For a growing number of families, the answer seems to be yes. Dubai's ability to blend elite services with everyday comfort — all in a future-ready, globally connected environment — is helping position it not just as a place to invest but a place to live. To the Reader: This article is a promotional feature and does not have journalistic/editorial involvement of Mint. Mint does not endorse/subscribe to the content(s) of the article/advertisement and/or view(s) expressed herein. Mint shall not in any manner, be responsible and/or liable in any manner whatsoever for all that is stated in the article and/or also concerning the view(s), opinion(s), announcement(s), declaration(s), affirmation(s), etc., stated/featured in the same. The article does not constitute financial advice. First Published: 30 Apr 2025, 06:54 PM IST
Yahoo
15-03-2025
- Business
- Yahoo
Trump to roll out $5M gold card visa to attract rich migrants. The countries they're leaving and where they're going
In late February, President Donald Trump said he will replace the EB-5 immigrant investor visa program with a 'gold card' that can be bought for $5 million and could offer a path to U.S. citizenship. 'The people that can pay $5 million, they're going to create jobs,' said Trump when he unveiled his plans at the first cabinet meeting of his term. 'It's going to sell like crazy. It's a bargain.' I'm 49 years old and have nothing saved for retirement — what should I do? Don't panic. Here are 5 of the easiest ways you can catch up (and fast) Home prices in America could fly through the roof in 2025 — here's the big reason why and how to take full advantage (with as little as $10) Americans with upside-down car loans owe more money than ever before — and drivers can't keep up. Here are 3 ways to cut your monthly costs ASAP Trump also suggested that revenue from these gold cards would help pay down the nation's deficit. The current EB-5 visa program allows investors to apply for permanent residency if they invest at least $1.805 million in a U.S. business in an economically depressed area and 'plan to create or preserve 10 permanent full-time jobs for qualified U.S. workers.' While there have been cases of fraud and misuse of funds under the EB-5 program, oversight has improved since former president Joe Biden signed the EB-5 Reform and Integrity Act in 2022. Some proponents say there's no reason why the U.S. couldn't keep both the EB-5 visa and the gold card. Read more: An alarming 97% of older Americans are carrying debt into retirement — here's why and 4 simple things you can do if you're stuck in the same situation It's not yet clear what will happen to current EB-5 visa holders, but some prospective applicants are not happy with the idea of forking over $5 million to the U.S. government rather than investing their money in a business. According to Henley & Partners, a global consultancy firm specializing in investment citizenship, 128,000 millionaires migrated to a new country in 2024 — more than double the 57,000 who migrated in 2014. The firm projects that growth will continue, with an expected 135,000 millionaire migrants in 2025. As geopolitical tensions persist in several regions of the globe and threaten to expand, some millionaires are moving for safety and security. Others are moving for lower taxes, a better standard of living or work and business opportunities. The Henley Private Wealth Migration Report 2024 reveals that millionaire immigrants were most likely to come from China, the U.K., India, South Korea and Russia. While it may seem obvious why people are leaving regions engaged in ongoing conflict, it may be less obvious why millionaires are leaving the U.K. in droves. High taxes, including a new VAT on private schools and proposed changes to taxes on non-domiciled residents are driving U.K. millionaires to move to lower-tax jurisdictions. 'Since Labour came to power, one millionaire left the U.K. every 45 minutes,' the Independent reports. The United Arab Emirates (UAE) was the No. 1 destination for millionaires, followed by the U.S. in second place. Singapore, Canada and Australia rounded out the top five destinations. The UAE is popular thanks to its own Golden visa program, offering a five- or 10-year renewable residence visa to investors and entrepreneurs, as well as students, frontline workers and 'pioneers of humanitarian work.' While the UAE has a growing economy and job opportunities in the finance, technology and construction sectors, it also offers an emerging real estate market and a high-end lifestyle. But, perhaps most importantly for some millionaires, income is tax-free. Other global destinations like Cyprus, Greece, Italy, Malta, Portugal and Spain are popular with wealthy migrants because of their climate and lifestyle. Each has different golden visa requirements, but often require that you buy real estate of a certain value in addition to having a certain amount of investment assets. Many European and Caribbean destinations are popular because they don't have residency requirements. American millionaires are also on the move. A record number of wealthy Americans are looking for second passports or long-term residences abroad in the face of political, social and economic increasingly view one passport as a concentration of risk and are looking to diversify just as they do with their financial portfolios. A 2024 survey by Arton Capital found that approximately 53% of wealthy U.S. citizens were planning to leave the country following the November election, regardless of outcome. Following the election, Henley & Partners told CNBC that the number of Americans making plans to emigrate was up at least 30% from the previous year. It remains to be seen in 2025 whether the U.S. will retain in No. 2 spot on Henley's Migration Report — and whether the gold card will attract more millionaires. But for anyone considering a move, it makes sense to consult with a firm that specializes in helping wealthy individuals emigrate. Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan 'works every single time' to kill debt, get rich in America — and that 'anyone' can do it Rich, young Americans are ditching the stormy stock market — here are the alternative assets they're banking on instead Protect your retirement savings with these 5 essential money moves — most of which you can complete in just minutes This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
