The United Arab Emirates has become one of the most aspiring destinations for millionaires as it is expected to attract the highest number of high-net-worth individuals in 2025, with more than 9,800 relocating to the UAE.
According to Henley & Partners’ study released by international investment migration advisory firm Henley & Partners and global wealth intelligence firm New World Wealth, the UAE is estimated to attract $63 billion (Dh231 billion) in wealth due to the migration of millionaires.
The study said, “The millionaire migration to the UAE nearly doubled, from 98 per cent in 2014 to 2024.”
The global residency and citizenship company said, “The UAE retains its crown as the world's leading wealth magnet, with a record net inflow of over 9,800 relocating millionaires expected this year, over 2,000 more than the US in second place.”
The number of millionaires with assets of over $1 million in the UAE is expected to increase to 130,500, while the population of centi-millionaires with assets exceeding $100 million is projected to reach 325. The UAE will be home to 28 billionaires.
“The UAE has engineered perhaps the most successful wealth attraction strategy of the modern era. Forecast to see a net inflow of 9,800 millionaires in 2025, with an estimated collective investable wealth of around $63 billion, the UAE has evolved from regional hub to global wealth nexus through comprehensive policy innovation,” said Dr Juerg Steffen, CEO at Henley and Partners.
“The UAE's appeal rests on multiple factors beyond its welcoming immigration policy. Zero income tax, world-class infrastructure, political stability, and a regulatory framework that treats capital as a partner rather than a prey have created a compelling proposition. Its 2019 Golden Visa program, refined in 2022 to expand eligibility and streamline processes, provides structured pathways that complement these broader advantages,” he said.
Steffen elaborated that the UAE's success represents a holistic approach to wealth attraction encompassing lifestyle, business environment, and strategic positioning.
Iran, Lebanon, UK top sources
"If one reviews the fastest growing wealth markets in the world over the past decade, it is noticeable that most of these countries are either popular destinations for migrating millionaires — such as Montenegro, the UAE, Malta, the USA, and Costa Rica — or emerging market tech hubs like China, India, and Taiwan. This demonstrates the importance of millionaire migration in driving new wealth formation in a country," said Andrew Amoils, head of research at New World Wealth.
Due to geopolitical and economic volatility in Lebanon, Iran and Pakistan, many wealthy individuals are relocating to the UAE and other countries.
In terms of their top migration destinations from the UK, most are relocating to the UAE, USA, Italy, and Switzerland, said Dr Juerg Steffen.
The study pointed out that affluent individuals are relocating to tax-friendly jurisdictions such as the UAE, Monaco, and Malta, as well as to lifestyle havens including Italy, Greece, Portugal, and Switzerland. "Many high-earning executives are settling in the expanding wealth hubs of Dubai, Florida, Milan, St. Julian's, Lisbon, the Athenian Riviera, Zug, and Lugano."
It said the Golden Visa options has also "reinforced the UAE's position as one of the world's most sought-after wealth haven."
Globally, a record 142,000 millionaires are projected to relocate internationally this year, with the UK expected to see the largest net outflow of high-net-worth individuals (HNWIs) by any country in the past 10 years.
The study noted that the UK is forecast to lose a staggering 16,500 millionaires in 2025 — more than double the anticipated 7,800 net outflows from China, which is ranked second this year after topping the millionaire-loser leaderboard every year over the past decade.
"2025 marks a pivotal moment. For the first time in a decade of tracking, a European country leads the world in millionaire outflows. This isn't just about changes to the tax regime. It reflects a deepening perception among the wealthy that greater opportunity, freedom, and stability lie elsewhere. The long-term implications for Europe and the UK's economic competitiveness and investment appeal are significant," said Dr Juerg Steffen.
The UK is not alone in its struggles. For the first time, EU heavyweights France, Spain, and Germany are expected to see net HNWI losses in 2025 — with projected net outflows of 800,0 500 and 400 millionaires, respectively.
Courtesy: Khaleej Times
