At least 142,000 millionaires are likely to move to a new country in 2025, according to Henley & Partners, a global consultancy giant for residence and citizenship by investment. The number of these high-net-worth individuals (HNWIs) – the ones with over $1 million in liquid assets – is projected to rise to 165,000 in 2026, says the Henley Private Wealth Migration Report 2025.
The UAE maintains its position as the world’s biggest wealth magnet, with a record net influx of 9,800 millionaires predicted this year. The US, Italy, Switzerland, and Saudi Arabia are also among the preferred destinations for millionaires.
The UK is anticipated to have the highest net outflow of high-net-worth individuals from any country, according to the report.
Where Are The Millionaires Headed?
The United Arab Emirates remains the most sought-after destination for wealthy individuals, with 9,800 HNWIs projected to gain residency status in 2025, up from 6,700 last year. The US is projected to be in second place for millionaire inflow this year, attracting an estimated 7,500 new millionaires, while Italy is in third place and Switzerland fourth.
Saudi Arabia is also experiencing rapid growth, with over 2,400 inbound millionaires expected in 2025, an eight-fold increase from last year.
Countries Losing Wealth
The United Kingdom is facing the largest single-year exodus of wealth, with 16,500 HNWIs projected to acquire residency elsewhere. China is the second-biggest loser, with 7,800 HNWIs likely to gain residency status in another country.
In Asia, South Korea is expected to see significant net outflows with 2,400 millionaires, while India is set to experience a significant loss of 3,500 millionaires.
EU heavyweights France, Spain and Germany are predicted to see net HNWI losses in 2025, with estimated outflows of -800, -500, and -400 millionaires, respectively. Ireland (-100), Norway (-150), and Sweden (-50) are also seeing huge wealth losses.
Why Does Wealth Migration Matter?
“At stake is a profound shift in economic influence, as countries compete not just for talent but for the fortunes that follow it,” the report stated. With an estimated collective investable wealth of around $63 billion, the UAE has evolved from a regional hub to a global wealth nexus through comprehensive policy innovation, it added.
Interestingly, the UK, prior to 2016, had always drawn more millionaires than it lost to migration.
According to Nuri Katz, the term “migration” is somewhat misleading, as many wealthy individuals use these programs as a “Plan B.” “These people are not actually leaving the UK. They are simply getting paperwork in different countries but aren’t necessarily making the move,” he added.
Investment Migration Programs
Only about 30% of HNWIs opt for investment migration programs to secure residency or citizenship. The majority acquire residency through work visas, ancestry visas, retirement visas, family visas, or birthright second passports, according to Henley & Partners.
What Makes UAE And USA Attractive To High-Net-Worth Individuals
The country’s welcoming immigration policy, zero income tax, world-class infrastructure, and political stability make the UAE the preferred destination for HNWs, said the report. The UAE’s Golden Visa program, introduced in 2019 and tweaked in 2022 to expand eligibility, offers a long-term, renewable residence visa valid for 5 or 10 years. “Recently, a lot of high-net-worth people have been moving to the UAE for the lifestyle and, obviously, the absence of personal income tax,” Katz added.
The US is expected to welcome 7,500 millionaires in 2025, mainly through the EB-5 Immigrant Investor Program, which has “channeled over $50 billion in foreign direct investment while creating hundreds of thousands of American jobs,” the report said.
