Across dozens of countries, wealthy individuals are once again shifting where they live, and where they store their money. Some nations are drawing them in with simpler taxes and political calm. Others are watching them leave quietly, often taking millions with them.
The United States comes next. About 7,500 millionaires are expected to move in, carrying roughly $44 billion in wealth. For many, the U.S. still offers strong legal protections and more financial options than most places.
Italy is also picking up momentum. It’s set to gain more than 3,000 millionaires this year, thanks in part to flat-tax programs. Portugal, Greece, and Switzerland are seeing steady inflows too. Portugal, for instance, has drawn attention through residency incentives tied to investment in cultural projects or research.
Saudi Arabia and Singapore are climbing the ranks as well. Both offer relative stability, and they’ve made it easier for wealth to settle in. Others, like Canada and Australia, aren’t pulling in massive numbers but still attract a regular stream of high-net-worth migrants.
Smaller countries haven’t been left out. Malta, Thailand, Panama, and even Montenegro are seeing some movement. The numbers are lower, but for governments trying to boost investment, every newcomer counts.
China isn’t far behind. Around 7,800 millionaires are projected to exit, taking with them about $56 billion. India ranks third, with 3,500 expected departures and $26 billion in assets on the move.
Other countries on the outflow list include Brazil, Russia, and South Korea. Germany, France, and Spain are seeing hundreds leave, though the value of their exits still adds up. Countries like Vietnam and South Africa are also losing affluent individuals, and while the absolute numbers may be smaller, the long-term impact can be harder to replace.
Governments in other regions have started tweaking their policies. Some are reworking visa rules or easing tax rules to hold onto capital. These efforts help, but they tend to work better when backed by consistent planning over time.
Meanwhile, wealthy individuals are approaching relocation with more caution. Financial surveillance is getting smarter, and moving funds isn’t as simple as it once was. What used to be a quiet transfer now involves paperwork, flags, and checks. Every step comes with a cost or a delay.
That hasn’t stopped the broader shift. Many are still relocating, not because they want to move, but because they feel they have to. When they leave, their businesses and investment habits usually follow.
H/T: Henleyglobal.
Note: This post was edited/created using GenAI tools.
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UAE and U.S. Lead in New Wealth
The United Arab Emirates is set to take in nearly 10,000 millionaires this year. The total value of their assets is expected to land around $63 billion. The country’s appeal isn’t hard to figure out. There’s no income tax, business conditions are favorable, and life there checks the boxes for those who can afford it.The United States comes next. About 7,500 millionaires are expected to move in, carrying roughly $44 billion in wealth. For many, the U.S. still offers strong legal protections and more financial options than most places.
Italy is also picking up momentum. It’s set to gain more than 3,000 millionaires this year, thanks in part to flat-tax programs. Portugal, Greece, and Switzerland are seeing steady inflows too. Portugal, for instance, has drawn attention through residency incentives tied to investment in cultural projects or research.
Saudi Arabia and Singapore are climbing the ranks as well. Both offer relative stability, and they’ve made it easier for wealth to settle in. Others, like Canada and Australia, aren’t pulling in massive numbers but still attract a regular stream of high-net-worth migrants.
Smaller countries haven’t been left out. Malta, Thailand, Panama, and even Montenegro are seeing some movement. The numbers are lower, but for governments trying to boost investment, every newcomer counts.
UK Tops the List for Millionaire Losses
The United Kingdom is losing more wealthy residents than any other country this year. Nearly 16,500 millionaires are expected to leave. The total wealth in play sits close to $92 billion. Higher taxes and shaky investor confidence are driving some to look for steadier ground.China isn’t far behind. Around 7,800 millionaires are projected to exit, taking with them about $56 billion. India ranks third, with 3,500 expected departures and $26 billion in assets on the move.
Other countries on the outflow list include Brazil, Russia, and South Korea. Germany, France, and Spain are seeing hundreds leave, though the value of their exits still adds up. Countries like Vietnam and South Africa are also losing affluent individuals, and while the absolute numbers may be smaller, the long-term impact can be harder to replace.
New Patterns Are Forming
Wealth tends to follow steady ground. Places with clear laws, lighter tax systems, and dependable institutions are where it ends up. That’s one reason small territories like Monaco or the Cayman Islands keep pulling in extremely wealthy residents. They don’t bring in large crowds, but the money they carry in is hard to ignore.Governments in other regions have started tweaking their policies. Some are reworking visa rules or easing tax rules to hold onto capital. These efforts help, but they tend to work better when backed by consistent planning over time.
Meanwhile, wealthy individuals are approaching relocation with more caution. Financial surveillance is getting smarter, and moving funds isn’t as simple as it once was. What used to be a quiet transfer now involves paperwork, flags, and checks. Every step comes with a cost or a delay.
That hasn’t stopped the broader shift. Many are still relocating, not because they want to move, but because they feel they have to. When they leave, their businesses and investment habits usually follow.
| Country | Millionaire Migration | Estimated Wealth of Migrating Millionaires (USD Billion) |
|---|---|---|
| UAE | 9,800 | 63 |
| U.S. | 7,500 | 43.7 |
| Italy | 3,600 | 20.7 |
| Switzerland | 3,000 | 16.8 |
| Saudi Arabia | 2,400 | 18.4 |
| Singapore | 1,600 | 8.9 |
| Portugal | 1,400 | 8.1 |
| Greece | 1,200 | 7.7 |
| Canada | 1,000 | 5.7 |
| Australia | 1,000 | 5.6 |
| Hong Kong | 800 | 5.3 |
| Japan | 600 | 3.1 |
| Malta | 500 | 4.3 |
| Thailand | 450 | 4.2 |
| Costa Rica | 350 | 2.8 |
| Panama | 300 | 2.4 |
| Cyprus | 250 | 2.6 |
| Monaco | 200 | 11 |
| Cayman Islands | 200 | 3.7 |
| New Zealand | 150 | 0.9 |
| Montenegro | 150 | 1.6 |
| Netherlands | 100 | 0.6 |
| Latvia | 100 | 0.6 |
| Morocco | 100 | 0.9 |
| Mauritius | 100 | 0.5 |
| Austria | 50 | 0.3 |
| Croatia | 50 | 0.4 |
| Bermuda | 50 | 1 |
| Belgium | 50 | 0.3 |
| Hungary | 50 | 0.3 |
| Seychelles | 50 | 1 |
| Sweden | -50 | 0.4 |
| Philippines | -50 | 0.6 |
| Angola | -50 | 0.3 |
| Türkiye | -100 | 0.8 |
| Taiwan | -100 | 0.7 |
| Ireland | -100 | 0.6 |
| Argentina | -100 | 0.7 |
| Pakistan | -100 | 0.5 |
| Egypt | -100 | 0.8 |
| Norway | -150 | 1 |
| Mexico | -150 | 1 |
| Colombia | -150 | 1 |
| Lebanon | -200 | 2.8 |
| Iran | -200 | 1.5 |
| Nigeria | -200 | 1.5 |
| Indonesia | -250 | 3 |
| South Africa | -250 | 1.6 |
| Vietnam | -300 | 2.8 |
| Israel | -350 | 2.5 |
| Germany | -400 | 2.2 |
| Spain | -500 | 3.1 |
| France | -800 | 4.4 |
| Brazil | -1,200 | 8.4 |
| Russia | -1,500 | 14.7 |
| S. Korea | -2,400 | 15.2 |
| India | -3,500 | 26.2 |
| China | -7,800 | 55.9 |
| UK | -16,500 | 91.8 |
H/T: Henleyglobal.
Note: This post was edited/created using GenAI tools.
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