WHAT?

The article from Business Standard reports on global millionaire migration trends for 2025, based on the Henley Private Wealth Migration Report 2025.

Key Points

1. Global Migration: Approximately 142,000 high-net-worth individuals (HNWIs), defined as those with liquid assets exceeding $1 million, are expected to relocate to new countries in 2025, increasing to 165,000 in 2026.
2. UAE as Top Destination: The United Arab Emirates (UAE) is projected to attract the highest number of millionaires globally, with a net influx of 9,800 HNWIs in 2025, up from 6,700 in 2024. The UAE’s appeal is attributed to its zero income tax, world-class infrastructure, political stability, and the Golden Visa program (introduced in 2019, expanded in 2022), offering 5- or 10-year residency.
3. India’s Outflow: India is expected to see a net loss of 3,500 millionaires in 2025, a reduction from previous years (e.g., 4,300 in 2024). Despite this, India remains a net exporter of HNWIs, though return migration and global tax changes are mitigating the trend. Many departing Indian millionaires retain business interests and second homes in India.
4. United Kingdom: The UK is projected to experience the largest net outflow globally, losing 16,500 millionaires in 2025, a shift from pre-2016 trends when it attracted more HNWIs.
5. United States: The US ranks second in attracting millionaires, expecting a net inflow of 7,500 HNWIs, driven by the EB-5 Immigrant Investor Program.
6. China: China is forecasted to lose 7,800 millionaires, ranking second in outflows.
7. South Korea: South Korea anticipates a loss of 2,400 HNWIs.

Reasons for Migration

The UAE’s attractiveness stems from its tax-free environment, robust infrastructure, and welcoming immigration policies. Globally, HNWIs are increasingly seeking flexible arrangements across multiple countries, driven by investment migration programs like Portugal’s Golden Residence Permit, Caribbean options (e.g., Grenada, Antigua and Barbuda), and New Zealand’s Active Investor Plus Visa. A 64% increase in applications for such programs was reported in Q1 2025 compared to Q1 2024.