In 2025, a record 142,000 millionaires are expected to migrate internationally, with the UK facing the largest outflow of high-net-worth individuals (HNWIs) at -16,500, significantly more than China, which is projected to lose 7,800.

The UAE is set to attract a net inflow of 9,800 millionaires, bolstered by its appealing golden visa options, while Saudi Arabia anticipates a gain of 2,400 millionaires.

Dr. Juerg Steffen, CEO at Henley & Partners, notes that this migration trend reflects a significant shift in global economic power, as wealthy individuals seek better opportunities and stability in more favorable environments.

The UAE's allure stems from its zero income tax policy, world-class infrastructure, political stability, and a business-friendly regulatory environment.

The expansion of the UAE's Golden Visa programme, which now includes five new sponsor-free visa categories, aims to attract a diverse range of professionals and investors.

Tax differentials play a crucial role in millionaire migration, with many top destinations offering low or no estate duties and capital gains taxes.

The UK's significant outflow of millionaires is largely attributed to recent tax reforms and a decade of poor economic performance, prompting wealthy individuals to seek more tax-friendly locations.

In response to the outflow, the UK Treasury is considering reversing current tax policies, including proposals that would allow wealthy foreigners to reside in the UK tax-free for a fee.

As wealthy families relocate, the demand for elite international schools is rising, particularly in regions like Dubai and Singapore, where enrolment in British and American-curriculum schools is increasing.

Countries like Iran, Lebanon, and Pakistan are notable sources of millionaire migration to the UAE, driven by economic and political instability in those regions.

Common reasons for millionaire migration include geopolitical tensions, economic uncertainty, personal safety, tax considerations, and the pursuit of quality education for children.

Despite its lack of tax advantages compared to the UAE, the USA is projected to gain 7,500 new millionaires in 2025, driven by its dynamic economy and the EB-5 Immigrant Investor Program.