Wealth migration: Why 142,000 millionaires are likely to relocate in 2025

Approximately 142,000 high-net-worth individuals (HNWIs) with liquid investable wealth of $ 1million or more are set to seek new horizons in 2025. This surge marks the most significant wealth migration ever documented, highlighting a fundamental transformation in how affluent individuals approach geographic and financial planning, said Henley & Partners in its annual outlook report. In 2024, 134,000 high-net-worth individuals relocated and established new domiciles worldwide, driven by robust inflows to the UAE, USA, and Italy, alongside higher-than-expected departures from the UK. 

 

Since 2013, the number of millionaires on the move has increased from 51,000 to a forecasted 142,000 in 2025, an astounding 178% growth. 

 

 

Reflecting on the past few years, the numbers are striking. The pre-pandemic peak saw 110,000 mobile millionaires in 2019, but this figure plummeted during the Covid-induced paralysis of 2020. The subsequent recovery has been nothing short of remarkable. 

 

Why are they on the move? 

Global turmoil, geopolitical and financial instability, digitalization, and investment migration programs have all played an important role in driving the rise of global citizens, noted the report. 

 

 Digital connectivity has eliminated traditional barriers, enabling seamless communication and collaboration across continents. Global membership networks have come to the fore, allowing high-net-worth individuals to exchange ideas, forge partnerships, and access opportunities without geographical constraints.

 

" ‘Safe Haven 8’ investment migration jurisdictions such as Malta, Monaco, Singapore, Switzerland, and the UAE are attracting high-net-worth individuals thanks to their high-quality living standards, robust infrastructure, and tax incentives, making them ideal hubs for communities of global citizens. This mobility allows individuals to diversify their assets, mitigate geopolitical risks, and embrace a lifestyle defined by global aspirations," said Paul Demircioglu, Director of Civis Mundi, an international membership club that offers access to curated private events and its global network. 

     

A backdrop of political realignment characterized by the historic election super-cycle of 2024—with national polls in over 70 countries, affecting nearly half of the world's population—has prompted wealthy individuals to explore diverse domiciles. Ongoing conflicts and economic volatility further fuel this trend, compelling HNWIs to seek safe havens across strategic geographic locations in a rapidly evolving landscape.

 

"The UAE stands as a prime example of this new paradigm. Its golden visa program, coupled with crypto-friendly policies and world-class infrastructure, has created a powerful draw for global wealth. Similar success stories are unfolding in Singapore, where sophisticated financial frameworks meet political stability, and in select Mediterranean nations that combine lifestyle benefits with attractive tax policies," said Dr. Juerg Steffen, FIMC, is Chief Executive Officer of Henley & Partners.

 

Real estate remains central to investment migration, yet its role is evolving. Today’s programs emphasize sustainable development and technology integration, transforming properties into multi-purpose assets that offer residence rights alongside income potential and lifestyle benefits, explained Steffen.

 

"The investment migration sector, estimated to be worth EUR 20 billion, stands at a crossroads. Once viewed as a niche service for the ultra-wealthy, it has matured into a sophisticated wealth planning tool, recognized by governments and financial institutions alike. As we move through 2025, the sector's role in facilitating global capital flows and fostering economic development will only grow in importance," added Steffen.

 

Some jurisdictions are losing their prominence as others emerge as more attractive hubs.  

The UK, for example, has historically been a favored destination for the wealthy. However, recent years have seen a dramatic shift. In 2022, the country witnessed a net departure of 1,600 high-net-worth individuals, a figure that doubled to 3,200 in 2023 and was projected to nearly triple to 9,500 in 2024. This sharp trajectory highlights the importance of optionality and strategic mobility for high-net-worth individuals while emphasizing the need for jurisdictions to adapt and innovate continually to retain their appeal to wealthy investors.

 

"Global citizens increasingly view a diversified residence and citizenship portfolio as essential to safeguarding their financial security, while cultivating international networks is regarded as a highly effective strategy to expand their influence and access opportunities across borders" said Paul.