Latest news with #HenleyPrivateWealthMigrationReport2025
Arab Times
6 days ago
- Business
- Arab Times
Global wealth migration surges: Over 140,000 millionaires set to relocate in 2025
LONDON, Aug 10: A global migration of the ultra-wealthy is reshaping the economic landscape, as over 142,000 millionaires are projected to relocate in 2025, marking a historic shift in high-net-worth movement patterns. Once-iconic centers of affluence like London and Paris are witnessing an exodus of millionaires, driven by escalating geopolitical tensions, trade wars, and macroeconomic instability. As the wealthy seek safer, more financially advantageous destinations, one Eastern European nation has quietly become the world's fastest-growing millionaire hub: Montenegro. According to the Henley Private Wealth Migration Report 2025, Montenegro has recorded a 124% increase in its millionaire population over the past decade. Although it currently hosts just 2,800 millionaires, the country has rapidly gained popularity thanks to a combination of fiscal incentives, investment opportunities, and an enviable Mediterranean lifestyle. Situated along the Adriatic Sea and framed by the Dinaric Alps, Montenegro's appeal lies not only in its natural beauty but in its flat income tax regime, absence of inheritance and gift taxes, and a now-suspended 'golden passport' program that once allowed investors to gain citizenship. 'Montenegro's low-tax regime, combined with luxury real estate options and a high quality of life, has made it an ideal destination for lifestyle-driven investors,' said Dominic Volek, Head of Private Clients at Henley & Partners. The year 2025 is on track to witness a record-breaking wave of millionaire relocations. An estimated 165,000 millionaires are expected to move abroad by next year. Experts cite ongoing global instability as a major motivator. 'As major powers become more entangled geopolitically, wealthy individuals are factoring political risk into their decisions on where to live and invest,' Volek added. While Montenegro is gaining traction, the United Arab Emirates (UAE) continues to lead in net millionaire inflows, expecting to attract 9,800 high-net-worth individuals this year alone—more than any other country. The UAE's political stability, business-friendly policies, and Golden Visa program are seen as key drivers of this trend. In contrast, many Western European nations are experiencing an outflow of wealth. The United Kingdom tops the list of millionaire departures for the first time in a decade, with 16,500 individuals expected to leave the country in 2025. That figure translates to a 9% decline in the UK's millionaire population over the past ten years. Analysts attribute the British exodus to factors such as Brexit-related uncertainty, changes to non-domicile tax laws, and a generally less welcoming climate for foreign capital. 'Despite this outbound wave, the UK still appeals to some high-net-worth individuals—particularly disillusioned Americans under the current Trump administration,' said Juerg Steffen, CEO of Henley & Partners. 'However, without clearer entry pathways, the country struggles to offset the outflow.' France, Spain, and Germany are also witnessing increased wealth migration. According to Volek, inquiries into alternative citizenship and residence options from German millionaires jumped 114% between 2023 and 2024, signaling a broader crisis of confidence among Europe's financial elite. This shift in millionaire demographics has deeper implications. As the wealthy relocate, regional investment trends, real estate markets, and even government tax revenues could be significantly affected. Experts warn that the long-term consequences of such migration could impact financial stability, innovation ecosystems, and economic development strategies, particularly in countries losing their wealthiest citizens. As this unprecedented migration unfolds, Montenegro's rise illustrates a changing global order—one where emerging markets and smaller states increasingly compete for the attention of the world's wealthiest, offering not just safety and profits, but a desirable lifestyle in uncertain times.
Hindustan Times
6 days ago
- Business
- Hindustan Times
This small nation is becoming the world's hottest millionaire magnet in 2025
Over 142,000 millionaires are expected to pack their bags and move away from their luxury penthouses in London or France. Dubbed the 'great wealth migration,' the world's rich are looking for a place to secure their money as growing conflict across the globe affects the economy. Montenegro has witnessed a 124% increase in the number of millionaires in the last 10 years.(Unsplash) 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.
Mint
7 days ago
- Business
- Mint
World's wealthiest on the move: Why 142,000 millionaires are fleeing the west? Where are they going?
A historic shift is underway among the world's wealthiest individuals, with a record number of millionaires opting to migrate in search of better financial opportunities and greater stability. This year, approximately 142,000 millionaires are planning to relocate, a number expected to rise to 165,000 next year, reports Henley Private Wealth Migration Report 2025. This movement, dubbed the 'great wealth migration' is being driven by the recent geopolitical instability, macroeconomic challenges, and shifting sociopolitical landscape. While traditional destinations like Switzerland, the United States, and the United Arab Emirates (UAE) remain popular among affluent people, one lesser-known eastern European nation — Montenegro has emerged as the world's fastest-growing millionaire hub. Over the past decade, its millionaire population has surged by 124% to 2,800 individuals, said to Fortune the report. This rapid growth is attributed to several key factors: Fiscal flexibility: Montenegro's low-tax regime, with flat income taxes and no inheritance or gift tax, has made it highly attractive for wealth preservation. Lifestyle appeal: The country offers luxury real estate offerings, and an appealing Mediterranean lifestyle. Golden Passport program: The Balkan nation's former investment-for-citizenship program, which has since been terminated, played a significant role in attracting a crowd of affluent individuals and families. The UAE continues to attract high-net-worth individuals, projected to net about 9,800 millionaires this year, which is the most in any country. The nation is appealing because of its political stability, business-friendly environment and its own Golden Visa program, Fortune reported. Wealth value in U.S. dollars Other nations such as Malta, and Poland are also experiencing sizable increases in millionaire growth. In contrast to the surge in millionaires relocating to places like Montenegro and the UAE, many established European nations are experiencing a significant outflow of their wealthiest citizens. This year marks the first time in a decade that a European country, the United Kingdom (UK) is leading the world in millionaire departures. An estimated 16,500 millionaires, representing around $91.8 billion in wealth are expected to leave the British Isles this year. This decline is linked to the fallout from Brexit, political uncertainty, and recent changes to non-domicile tax rules. Millionaire outflows by country Country Millionaire Migration (2025) Est. wealth of migrating millionaires (2025) Millionaires growth (2014-2024) UK -16,500 $91.8 bn -9% China -7,800 $55.9 bn 74% India -3,500 $26.2 bn 72% South Korea -2,400 $15.2 bn 17% Russian Federation -1,500 $14,7 bn -25% Brazil -1,200 $8.4 bn -18% France -800 $4.4 bn 7% Spain -500 $3.1 bn 3% Germany -400 $2.2 bn 10% Israel -350 $2.5 bn 35% Source: Henley & Partners 'Despite this outbound wave, the UK remains a desirable destination for high-net-worth individuals—particularly Americans disenchanted with the current Trump administration,' wrote Henley & Partners CEO Juerg Steffen. 'Yet without a viable entry pathway, the country is unable to offset the outflow, leaving a growing imbalance between incoming and outgoing wealth.' Other major European economies like France, Spain, and Germany are also showing worrying signs of wealth migration. This trend suggests a broader erosion of confidence among Europe's wealthy elite, with potential long-term consequences for regional financial stability and innovation, Fortune reported.
Gulf Today
07-08-2025
- Business
- Gulf Today
A new millionaire settles in the UAE every hour: Dubai real estate leads global wealth migration
The UAE has officially become the world's top destination for wealth migration, attracting thousands of high-net-worth individuals to its thriving economy and tax-free lifestyle. According to the newly released Henley Private Wealth Migration Report 2025, the UAE is expected to welcome 9,800 new millionaires this year, an average of one every hour. This marks the third consecutive year the country leads globally in net millionaire inflow, ahead of Singapore, Australia, and the United States. The reasons behind this surge are clear. The UAE offers zero personal income tax, no capital gains or inheritance tax, long-term Golden Visas, and unmatched political stability. Combined with elite infrastructure and global connectivity, it has made Dubai real estate one of the most attractive markets for global investors in 2025. The report estimates that $63 billion in private wealth will flow into the UAE in 2025, much of it into Dubai's prime property market, luxury developments, and commercial real estate sectors. This inflow reflects both economic uncertainty elsewhere and investor confidence in the UAE's pro-business environment. By comparison, traditional financial hubs are witnessing a sharp decline. The United Kingdom is set to lose 16,500 millionaires in 2025 alone, primarily due to tax reforms, regulatory pressures, and the removal of Non-Dom status. Notable figures have already made the move. Billionaire shipping magnate John Fredriksen and hedge fund founder Michael Platt both relocated to Dubai, citing stability, tax efficiency, and long-term opportunity. But this is not just about individuals. Family offices, investment firms, hedge funds, and tech startups are increasingly shifting headquarters to Dubai, positioning the city as a rising hub for global finance, innovation, and real estate investment. 'This isn't migration; it's a reallocation of global power,' said Dr. Salman Bin Ali, CEO of and Managing Partner at CBA Real Estate. 'Dubai has become the control room for tomorrow's wealth. The most sophisticated investors aren't guessing; they're positioning. And they're choosing certainty, scalability, and sovereignty. That's what the UAE delivers.' With each passing hour, another millionaire makes the move. Dubai is where the future is being built quietly, but definitively.
Business Insider
03-08-2025
- Business
- Business Insider
Millionaire migration is booming — these are the top 10 countries attracting the world's wealthy in 2025
The world's richest people are on the move — and they're heading for safe havens with tax perks, top-tier schools, and investor-friendly policies. According to the Henley Private Wealth Migration Report 2025, roughly 142,000 millionaires are expected to relocate globally in 2025. The provisional net inflow figures are based on data and expert insights gathered between January and May, with final totals expected to be published next year once full-year data becomes available. The report — produced in partnership with global wealth intelligence firm New World Wealth — reveals the top destination countries attracting high-net-worth individuals and the vast sums of investable wealth they bring with them. The analysis draws on a blend of data sources, including property and company registries, LinkedIn activity, family office locations, and Henley & Partners' own client base, to track the global movement of over 150,000 HNWIs. To estimate the total wealth migrating to each country, analysts multiply the number of incoming millionaires by the average net worth of HNWIs relocating there — a figure that varies significantly between markets. "2025 marks a pivotal moment," Dominic Volek, the head of private clients at Henley & Partners, an investment migration consultancy, told Business Insider. "A record-breaking 142,000 millionaires are projected to relocate internationally, and for the first time in a decade of tracking, a European country — the UK — leads the world in millionaire outflows," he said. "It reflects a deepening perception among the wealthy that greater opportunity, freedom, and stability lie elsewhere." The top 10 countries gaining the most millionaires in 2025 UAE United States Italy Switzerland Saudi Arabia Singapore Portugal Greece Canada Australia The United Arab Emirates tops the list, set to gain a net 9,800 millionaires, followed by the United States with 7,500 and Italy with 3,600. These countries are among the 10 projected to welcome the highest numbers of HNWIs in 2025 — a trend that could reshape real estate markets, entrepreneurship, and job creation in their economies. Each of these countries offers a unique mix of tax incentives, lifestyle perks, and residency-by-investment pathways. "The UAE has evolved from a regional hub to a global wealth nexus through comprehensive policy innovation," said Volek. Its "zero income tax, world-class infrastructure, political stability, and regulatory framework," and its 2019 Golden Visa program — refined in 2022 — "have created a compelling proposition." The program offers five- and ten-year visa options tied to property and business investments, making it one of the most flexible globally. In the US, despite economic headwinds and growing political uncertainty, opportunity remains the key draw. "The USA is still attracting record numbers of HNWIs in 2025," Volek said, "with strong inflows coming from Asia, Latin America, and the UK." He described Florida as "especially popular" and Silicon Valley as keeping the world's top spot for wealthy tech entrepreneurs. He added that while some older millionaires are leaving for retirement-friendly destinations, inbound interest far outweighs outflows. Italy, now a rising star in wealth migration, is proving popular with HNWIs from France, the UK, and Switzerland. " Italy has relatively competitive tax rates when compared to other major countries in Europe," especially in estate duties — just 4% compared to over 30% in countries like France, Germany, and Spain. Switzerland, ever-popular with the ultrawealthy, is seeing new inflows from the UK and Scandinavia. "Zug, Geneva, and Lugano all remain very popular destinations," Volek noted, "whilst Zurich seems to be losing its appeal." Saudi Arabia, meanwhile, is the year's surprise breakout. The Gulf state is "boosted by strong inflows from the UK, North Africa, and the Middle East," particularly from Saudi-born HNWIs returning from the UK, Volek said. Singapore is seeing a smaller-than-usual inflow as wealthy expats increasingly opt for newer financial hubs. "Family office growth has slowed in Singapore over the past year," Volek said, adding that there is a trend of HNWIs leaving Singapore and moving to the UAE, especially in the financial services sector. Portugal and Greece continue their ascent, driven by lifestyle appeal, tax perks, and successful investment migration programs. "In Portugal, Lisbon and the Algarve are extremely popular," said Volek, while "the Athenian Riviera and the Greek Islands are tops in Greece." "Southern Europe is fast emerging as a new center of gravity for wealth migration in the region." Canada and Australia, while still in the top 10, are showing signs of saturation. These traditional safe havens are recording "the lowest inflows on record," said Volek. The UK and China are seeing the biggest millionaire outflows While some countries are booming, others are bleeding wealth. The UK is projected to see a net outflow of 16,500 millionaires — the largest of any country — followed by China and India, whose respective outflows stand at 7,800 and 3,500. " Several European countries are starting to lose large numbers of HNWIs to migration in 2025, led by the UK, France, and Spain," said Volek. "Also, Germany, Ireland, Norway, and Sweden are all beginning to see significant wealth outflows in 2025, which is a worrying sign for Europe in general." "Millionaires are typically among the first to relocate when conditions deteriorate," the New World Wealth report states — making migration flows a leading indicator of future economic risks. Why millionaire migration matters HNWIs don't just bring wealth — they often create it. Many are entrepreneurs or investors who inject capital into local markets, buy property, and fund startups. According to New World Wealth, about 15% of migrating millionaires are founders, with the figure rising to over 60% among centi-millionaires and billionaires. "If one reviews the world's fastest-growing wealth markets over the past decade, it is noticeable that most of these countries have investment migration pathways and have been heavily aided by inward wealth migration," Volek said. But long-term success goes beyond visas, according to Volek; it's the combination of favorable tax policy, political stability, strong institutions, and quality of life that helps nations truly attract and retain global wealth. And what Volek called the "great wealth migration" is set to "accelerate," he said. "Its trajectory will be shaped by how effectively nations address the complex mix of economic, political, and lifestyle factors that drive these decisions, with investment migration serving as one element in broader competitive strategies for attracting and retaining global wealth."
