The global movement of millionaires is reaching new heights. According to the Henley Private Wealth Migration Report 2025, a record 142,000 high-net-worth individuals (HNWIs) are expected to relocate across borders this year, seeking better opportunities, secure environments, and more favourable tax systems. By 2026, that number is projected to climb to 165,000. So, where exactly are the world’s richest heading—and what’s driving the shift?
UAE Tops the List for Wealth Migration
Leading the race is the United Arab Emirates, which continues to attract the global elite with its zero income tax, political stability, luxurious lifestyle, and the increasingly popular Golden Visa program offering long-term residency. In 2025, the UAE is set to welcome 9,800 new millionaires, a significant jump from 6,700 in the previous year.
Other Popular Destinations for Millionaires in 2025
Trailing closely behind the UAE is the United States, projected to attract 7,500 wealthy individuals, thanks in part to the EB-5 Immigrant Investor Program which grants residency in exchange for substantial investment. Italy, Switzerland, and Saudi Arabia round out the top five, with Saudi Arabia experiencing a massive eight-fold increase in millionaire migration, expecting to welcome 2,400 new HNWIs this year.
Countries Losing the Wealthiest Residents
While some nations are gaining wealthy residents, others are seeing a substantial exodus of millionaires. The United Kingdom is facing the largest outflow, with an estimated 16,500 millionaires expected to leave in 2025. China follows with a net loss of 7,800, while India could see 3,500 HNWIs moving abroad. Other countries facing notable losses include South Korea, France, Spain, and Germany.
Why Millionaire Migration Is a Big Deal
This global shift in millionaire residency isn’t just about numbers—it’s a reflection of changing economic power dynamics. Countries that succeed in attracting the wealthy are also pulling in capital, investment, and entrepreneurial talent. The UAE, for example, has rapidly evolved from a regional player into a global wealth magnet, fueled by pro-investor policies and strategic reforms.
Secondary Residencies as a Backup Plan
It’s important to note that not all HNWIs are fully relocating. Many are securing secondary passports or residency options as part of a “Plan B” rather than planning a complete move. According to global mobility expert Nuri Katz, “It’s not always about emigrating—it’s about having options during uncertain times.”
How the Wealthy Are Securing Residency
Surprisingly, only about 30% of millionaire migrants use investment migration programs. The majority obtain foreign residency through other channels, including employment, ancestry, marriage, retirement, or dual citizenship by birthright.
Conclusion:
As geopolitical climates shift and economic opportunities evolve, millionaire migration offers a telling insight into where the future of global wealth may be headed. Countries that offer security, tax efficiency, and lifestyle benefits are becoming the new homes of the ultra-wealthy—and this trend shows no signs of slowing down.
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