A record-breaking number of millionaires are relocating to these countries in 2025:

A record-breaking number of millionaires are relocating to these countries in 2025 - Portugal Business News

News Millionaires - A record-breaking number of 142,000 millionaires worldwide, with the UK in the lead, are relocating to the countries listed below in 2025, in a historic wealth flight. Here are the Top 10 countries that are losing the most millionaires in 2025 and the Top 10 countries that are gaining the most millionaires relocating in 2025:

1 – Which countries are losing the highest number of millionaires in 2025?

1 – The United Kingdom

The UK is expected to see the largest exodus of millionaires worldwide since the last 10 years. The UK is forecast to lose a staggering 16,500 millionaires in 2025, that is more than double what was expected, according to the Henley Private Wealth Migration Report 2025.

For the first time in a decade, a European country leads the world in millionaire outflows. The millionaire exodus from the UK is not only due to changes to the tax regime, but also due to the perception among the wealthy that they will obtain greater opportunity, freedom, and stability in the countries where they choose to relocate. This may have a significant impact on the UK’s economy and capacity to attract Foreign Direct Investment, since a larger number of high-net-worth individuals from Europe are relocating to more investor-friendly hubs on the continent.

Here are the main reasons why the UK is seeing a mass exodus of millionaires in 2025:

·      The October 2024 budget introduced sharp hikes in capital gains and inheritance taxes, while new rules targeting non-domiciled residents and family wealth structures came into effect in April, sparking what some are calling a “WEXIT” (wealth exit).

·      UK millionaires are therefore relocating to tax-friendly jurisdictions and lifestyle havens.

Here are the main countries to which millionaires from the UK are relocating in 2025:

·      The United Arab Emirates (UAE) – a tax-friendly jurisdiction.

·      Monaco – a tax-friendly jurisdiction

·      Malta – a tax-friendly jurisdiction  

·      Italy – a lifestyle haven

·      Greece – a lifestyle haven

·      Portugal - a lifestyle haven

·      Switzerland - a lifestyle haven

2 – China

China ranks 2nd country with the highest net outflow of millionaires in 2025 with a loss of 7,800 millionaires.

3 – India

India is expected to lose 3,500 millionaires in 2025.

4 - Russia

Russia is expected to lose 1,500 millionaires in 2025.

5 - Brazil

Brazil is expected to lose 1,200 millionaires in 2025. Millionaires from Brazil are mainly relocating to the US (especially Florida), Portugal, the Cayman Islands, Costa Rica, and Panama.

6 - France

France is expected to lose 800 millionaires in 2025.

7 – Spain

Spain is expected to lose 500 millionaires in 2025.

8 – Germany

Germany is expected to lose 400 millionaires in 2025.

9 – Norway

Norway is expected to lose 150 millionaires in 2025.

10 - Ireland

Ireland is expected to lose 100 millionaires in 2025.

2 – To which countries are most millionaires relocating to in 2025?

1 – The United Arab Emirates (UAE)

The UAE ranks 1st country attracting the highest number of millionaires in 2025, with a record net inflow of +9,800 millionaires expected to relocate there in 2025.

Millionaires relocating to the UAE come mainly from the UK, India, Russia, Southeast Asia, and Africa, due to attractive golden visa options that have reinforced the UAE’s position as the world’s most sought-after wealth haven. Millionaires who relocate to the UAE mainly go to Dubai.

2 – The United States

The USA ranks 2nd country attracting the highest number of millionaires in 2025, with a record net inflow of +7,500 millionaires expected to relocate to America by the end of 2025. Millionaires who relocate to the US mainly go to Florida.

3 – Italy

Italy ranks 3rd country expected to attract over 3,600 millionaires who are relocating in 2025. Millionaires who relocate to Italy mainly go to Milan.

4 – Switzerland

Switzerland ranks 4th country expected to attract over 3,000 millionaires who are relocating in 2025, driven by favorable tax regimes, lifestyle appeal, and active investment migration programs. Millionaires who relocate to Switzerland mainly go to Zug and Lugano.

5 – Saudi Arabia

Saudi Arabia ranks 5th country expected to attract over 2,400 millionaires who are relocating in 2025, due to a surge in returning nationals and to international investors settling in Riyadh and Jeddah.

6 – Singapore

Singapore ranks 6th country expected to attract over 1,600 millionaires who are relocating in 2025.

7 – Portugal

Portugal ranks 7th country expected to attract over 1,400 millionaires who are relocating in 2025. Southern Europe is fast emerging as a new hub for wealth migration in Europe and millionaires who relocate to the Portugal mainly go to Lisbon.

8 – Greece

Greece ranks 8th country expected to attract over 1,200 millionaires who are relocating in 2025. Millionaires who relocate to Greece mainly go to the Athenian Riviera.

9 - Australia

Australia ranks 9th country expected to attract over 1,000 millionaires who are relocating in 2025.

10 – Canada

Canada ranks 10th country expected to attract over 1,000 millionaires who are relocating in 2025.