The wealthiest families in the world are massively changing their countries of residence and business, with the UAE leading the relocation destinations. The movement of private capital has reached record levels, CNBC reports.
According to UBS bank, 36% of the 87 billionaires surveyed changed their country of residence in 2025, and another 9% are considering relocating. The bank called this phenomenon "the largest migration of private capital in history."
A report by Henley & Partners states that this year, the number of millionaires who will permanently move to new countries, bringing their families and businesses with them, could reach 165,000. The main reason for the global migration of wealthy individuals is primarily investment infrastructure, which accounts for about 30% of all such relocations, the publication noted.
Experts say that wealthy families have begun to change their countries of residence and citizenship due to geopolitics and tightening laws. An example is the cancellation in the UK in April 2025 of the special tax regime for non-residents, known as non-domicile. According to Henley & Partners, the net outflow from the kingdom over the past year amounted to 16,500 millionaires, compared to 9,500 in 2024, with their total wealth estimated at $92 billion.
According to the annual Greenback survey, the share of Americans living abroad who are considering renouncing their citizenship rose from 30% to 49% over the year. More than half of those surveyed (51%) explained this by dissatisfaction with the White House's policies.
The main destination for capital relocation has become the UAE. In 2025, the net influx there amounted to 9,800 millionaires — the best figure in the world. Among the reasons are the absence of income tax, capital gains tax, and a flexible "golden visa" program for investors.
Popular relocation destinations for millionaires include Italy, Switzerland, Portugal, Greece, and Singapore, which enhance their attractiveness through favorable tax regimes, investment programs, and quality of life. Among the new destinations is Saudi Arabia, which has issued more than 8,000 relocation permits under the Premium Residency program since its expansion in 2024. This is a special residence permit granted to talented individuals and entrepreneurs.
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