Millionaire Migration: Who’s Leaving, Why and Where?

Table of Contents

TL;DR

Millionaire migration is accelerating into 2026, following a record 128,000 relocations in 2025, driven by tax-driven migration, geopolitical uncertainty, and the rise of golden visa programmes and residency by investment. Major outflows include the UK and China, while the UAE, US, and Singapore attract HNWIs seeking international tax planning, mobility, and stability.

Wealthy individuals are moving abroad in growing numbers, changing how wealth is spread around the world. This shift is something governments, policymakers, and investment migration experts can’t ignore. This trend, known as millionaire migration, is about more than just wealthy people moving for lifestyle reasons. It reflects significant issues such as changing tax policies, global instability, and the growth of residency and citizenship by investment programmes.

The millionaire migration trend is set to keep growing in 2026, significantly shaping property markets, investment flows, and even diplomatic relations. Some countries see this as an opportunity and are competing to attract mobile wealth through golden visas, investor visas, and low-tax regimes.

Understanding the 2025 Wealth Migration Data

The most recent 2025 wealth migration reports highlight a clear global trend: wealthy individuals are becoming increasingly mobile and selective about where they establish residency. 

A record 128,000 millionaires relocated in 2025, marking the highest level of wealth migration ever recorded. Analysts suggest the increased mobility is based on tax-driven migration, lifestyle preferences, and global uncertainty.

As a result, countries with strong tax systems, political stability, and flexible residency programmes hold a clear competitive advantage in today’s evolving world. Countries offering citizenship by investment or low personal tax rates consistently attract more wealthy newcomers than others.

Who’s Leaving: Countries Losing the Most Millionaires

The millionaire migration trend is affecting countries all around the world, not just the Western countries. While some countries are positioning themselves as safe havens for high-net-worth individuals (HNWIs), others are witnessing significant wealth outflows. 

The UK’s Massive Exodus: 9,500 Millionaires Departing

The United Kingdom has seen one of the largest millionaire exodus movements in recent years, with an estimated 9,500 millionaires leaving in 2025 alone. 

Brexit Impact and Tax Policy Changes

Since Brexit, the UK has faced economic challenges, including reduced trade access, a weaker pound, and slower economic growth. For many HNWIs, these factors make the UK a less attractive base for wealth preservation and international business activity. 

Additionally, recent changes to the UK tax policies, including the introduction of stricter wealth and inheritance tax regimes is resulting in many wealthy individuals considering relocation.

The Elimination of Non-Dom Status 

One of the biggest triggers behind the wealthy migration 2025 from the UK is the elimination of the non-domiciled (non-dom) tax regime. Previously, this policy allowed wealthy foreigners to protect overseas income from UK taxation. 

The removal of Non-Dom status has significantly reduced the UK’s appeal to global investors and entrepreneurs, driving many to choose countries with more favourable tax planning options and flexible residency programmes instead.

China’s Continued Outflow: 15,200 Wealthy Individuals

China leads the world in HNWI outflows, with an estimated 15,200 millionaires emigrating in 2025. 

Regulatory Environment Concerns

China’s growing regulatory environment, especially around private businesses, has created uncertainty among entrepreneurs and investors. The government’s increased scrutiny of tech firms, property developers, and financial institutions has made many wealthy Chinese nervous about the security of their assets and long-term opportunities within the country.

Capital Control Restrictions

Strict capital control policies make it difficult for Chinese HNWIs to move funds abroad. However, those who do manage to secure overseas investments often look for golden visa programmes or citizenship by investment as a way to secure a financial and personal safety net for their families. 

Other Major Source Countries

While the UK and China are the main countries affected by millionaire migration, several other nations are seeing notable levels of HNWI mobility as well.

India’s Brain and Wealth Drain (4,300)

India saw around 4,300 millionaires leave in 2025. This is due to a combination of economic and social factors. While India’s overall economy is growing, many wealthy individuals feel restricted by bureaucracy, complex taxation, and limited lifestyle infrastructure compared with countries offering investor visa schemes. 

The wealth drain is particularly common among younger entrepreneurs and tech professionals seeking global opportunities.

South Korea’s Surprising Numbers (1,200)

South Korea recorded approximately 1,200 millionaires leaving in 2025. Rising geopolitical tensions with North Korea, high domestic taxation, and an aging population are creating a sense of uncertainty. This has resulted in some wealthy South Koreans exploring residency by investment and citizenship by investment options in safer and more tax-efficient jurisdictions.

Russia’s Ongoing Exodus (1,000)

Russia continues to see steady outflows, with an estimated 1,000 millionaires relocating in 2025. Economic sanctions, limited access to international markets, and political instability are key drivers. For Russian HNWIs, wealth migration trends are closely tied to securing financial security abroad through golden visa programmes and low-tax jurisdictions.

Why Millionaires Are Migrating: The Driving Forces

Millionaire migration is the result of a combination of different factors influencing where HNWIs decide to relocate. While some departures are caused by unfavourable domestic conditions such as high taxation or political instability, others are driven by the attractive incentives offered by foreign jurisdictions. 

The motivations for this growing wealthy migration 2025 movement fall into three broad categories: tax planning, stability, and quality of life.

Tax Optimization Strategies

For many high-net-worth individuals, tax-driven migration is the most significant factor behind relocation. Countries offering golden visa programmes, investor visa schemes, and favourable international tax planning are the preferred destinations.

Capital Gains Tax Avoidance

One of the main reasons behind high net worth individual relocation is avoiding high capital gains taxes. Countries such as the United Arab Emirates, Monaco, and Singapore, where capital gains taxes are either 0% or significantly lower, are especially attractive to entrepreneurs and investors seeking to protect the value of their assets.

Inheritance Tax Planning

Preserving wealth for future generations is another key driver for HNWIs and their families. In high-tax countries such as the UK and France, HNWIs are turning to citizenship by investment programmes in low-tax jurisdictions to secure multi-generational wealth transfers while avoiding excessive tax burdens.

Income Tax Efficiency

Efficient structuring of personal and business income is a third motivator. With top marginal tax rates exceeding 40–50% in countries such as the UK, Germany, and South Korea, wealthy individuals are incentivised to move to countries with flat or low-income tax regimes. Popular examples include Portugal (with its now-phased Non-Habitual Resident regime), the UAE, and various Caribbean citizenship by investment programmes.

Political and Economic Stability Concerns

For others, HNWIs mobility is driven less by taxes and more by the search for security.

Geopolitical Risks

Concerns over personal safety in regions facing conflict or rising geopolitical tensions are accelerating wealthy individual relocation. Russia’s ongoing war in Ukraine and tensions between North and South Korea provide current examples of this.

Currency Fluctuation

The security of assets is not only political but also financial. Countries facing currency depreciation, such as Turkey or Argentina, risk losing HNWI’s as wealthy individuals look for stable currencies in safer jurisdictions like Switzerland, Singapore, or the eurozone.

Regulatory Uncertainty

Changes in domestic policies, such as China’s crackdown on private enterprise or the UK’s removal of the non-dom policy, create an unpredictable environment for wealth holders. Such major regulatory changes are often the tipping point for wealth migration trends.

Lifestyle and Business Opportunities

While taxes and security are the main drivers for millionaire migration, lifestyle factors also remain a significant factor. Many wealthy families seek locations that offer both comfort and business opportunities.

Quality of Life Factors

The desire for cleaner environments, safer communities, and better climates is one of the main reasons HNWIs choose to relocate. Countries like Australia, New Zealand, and Canada consistently attract wealthy investors due to their strong balance between modern infrastructure and natural beauty.

Education and Healthcare Access

Access to world-class education and healthcare systems is another key motivator. For many families, wealthy migration 2025 is as much about providing their children and future generations with opportunities as it is about tax planning. This explains the popularity of destinations such as the US, UK (for incoming families), and Switzerland.

Business-Friendly Environments

HNWIs are also drawn to jurisdictions that encourage and promote innovation, protect private enterprise, and provide access to global markets. Singapore, the UAE, and Hong Kong are excellent examples of destinations that offer competitive corporate tax rates, pro-business regulations, and global connectivity.

Where Millionaires Are Going: Top Destination Countries

While some countries are experiencing the negative effects of millionaire migration and the loss of their wealthy residents, others are taking advantage of this trend by offering attractive immigration options, stable tax systems, and favourable lifestyle conditions. 

The latest wealth migration trends show that HNWIs are choosing countries with strong international tax planning frameworks, golden visa programmes, and long-term opportunities for both families and businesses.

UAE Leading the Pack: 6,700 New Wealthy Residents

The United Arab Emirates has become the number one choice for wealthy individuals, welcoming an estimated 6,700 new millionaires in 2025. Dubai and Abu Dhabi, in particular, continue to position themselves as hubs for HNWIs mobility thanks to their business-friendly environment and world-class lifestyle offerings.

UAE Golden Visa programme Benefits

The UAE’s Golden Visa programme is one of the most competitive investor visa schemes globally. It provides long-term residency for wealthy individuals, entrepreneurs, and skilled professionals.

5-Year and 10-Year Visa Options

Applicants can obtain either a five-year or ten-year renewable visa depending on the size of their investment. Minimum investment of AED 1 million (approximately USD 280,000) for investors aged 55 and over (5-year visa), or AED 2 million (approximately USD 550,000) for investors of any age (10-year visa)

This flexibility makes it one of the most accessible programmes for high-net-worth individual relocation.

No Personal Income Tax Advantage

The UAE’s zero personal income tax makes it a top destination for tax-driven migration. Combined with the absence of capital gains tax, this regime offers a major advantage for investors and entrepreneurs alike.

Business Setup Opportunities

Dubai’s popular free zones allow for 100% foreign ownership, streamlined incorporation, and access to global markets, ideal for entrepreneurs and investors looking for efficient expansion routes.

Dubai’s Lifestyle Appeal

Beyond tax benefits, Dubai offers luxury living, international schools, advanced healthcare, and world-class connectivity. These quality of life factors make it a preferred choice for wealthy families.

United States: The 3,800 Millionaire Magnet

The US continues to be a top destination for wealthy investors, with around 3,800 millionaires relocating in 2025. Its economic scale, investment opportunities, and global influence remain unmatched.

EB-5 Investor Visa programme

The US EB-5 Immigrant Investor programme is the main option for wealthy migration. To qualify, applicants must invest a minimum of $800,000 in a government-approved project, typically located in rural or high-unemployment areas. If the investment creates or preserves at least 10 full-time jobs for qualified U.S. workers, investors, along with their spouses and unmarried children under 21, will be eligible to apply for a Green Card.

Path to Permanent Residency

The EB-5 visa offers a direct route to a US Green Card, allowing for eventual citizenship after five years of permanent residency.

Family Inclusion Benefits

Spouses and children under 21 are included, making it a strong multi-generational strategy.

Market Access and Opportunities

The US continues to attract wealthy individuals thanks to its strong capital markets, world-leading technology sector, and wide range of real estate investment opportunities.

Singapore’s Strategic Position: 3,500 New Arrivals

Singapore welcomed 3,500 new millionaires in 2025, reflecting its position as Asia’s top wealth management hub.

Singapore PR and Startup Visa programmes

Global Investor Programme (GIP)

The Global Investor Programme (GIP) requires a minimum investment of SGD 10 million (about USD 7.5 million) into a new or existing business in Singapore. In return, investors will be granted permanent residency and access to one of the world’s most stable financial environments. 

After two years of residency, applicants may apply for Singaporean citizenship, but they must be prepared to renounce their original nationality, as Singapore does not allow dual citizenship.

Investment Options under the GIP

Business Investment: Invest SGD 10 million (USD 7.5 million) in a new or existing Singapore business.

GIP Fund Investment: Invest SGD 25 million (USD 19.4 million) in a GIP-approved fund that in turn invests in Singapore-based companies.

Single-Family Office: Establish a Singapore-based Single-Family Office with Assets Under Management (AUM) of at least SGD 200 million (USD 155.6 million), of which a minimum of SGD 50 million (USD 38.9 million) must be spread across any of the following four categories:

  1. Equities, REITs, or business trusts listed on Singapore-approved exchanges
  2. Qualifying debt securities listed on the Monetary Authority of Singapore’s enquiry system
  3. Funds distributed by Singapore-licensed or registered managers/financial institutions
  4. Private equity investments in non-listed, Singapore-based operating companies
Tech.Pass for Entrepreneurs

The Tech.Pass programme is designed to attract top tech entrepreneurs and investors who can contribute to Singapore’s innovation ecosystem. It is designed for established leaders in the technology sector who have a proven track record of driving growth, securing funding, or managing significant investment portfolios. 

Eligibility Criteria

To qualify, applicants must meet the following:

  • Earned a fixed monthly salary of at least SGD 22,500 (approx. USD 16,700) within the past year; AND
  • Have at least 5 cumulative years of leadership experience in one of the following:
    1. A tech company with either a valuation/market capitalization of at least USD 500 million, or that has raised at least USD 30 million in funding; or
    2. A tech venture capital firm with at least USD 500 million in Assets Under Management (AUM).

European Golden Visa Destinations

Europe remains a highly attractive region for millionaire migration, offering both lifestyle benefits and access to the EU market.

Italy’s Golden Visa and Retirement programmes (2,000)

€500,000 Investment Options

The Italy Golden Visa, officially called the Investor Visa for Italy, was introduced on November 16, 2017 to attract foreign investment and support the country’s immigration framework. It offers non-EU nationals an initial two-year residence permit in exchange for a qualifying investment.

Investment options include a minimum of €250,000 in innovative startups, €500,000 in an Italian company, €1 million in philanthropic donations, or €2 million in Italian government bonds.

Retirement Visa Benefits

The Italy Retirement Visa, formally known as the Elective Residence Visa allows non-EU citizens to live in Italy without the need to work, provided they can show a stable source of passive income such as pensions or investments. 

Applicants must demonstrate at least €31,160 in annual income, with higher thresholds applying if they have dependents. There is no requirement for an investment, language exam, or employment.

Successful applicants gain access to the Schengen Area, Italy’s healthcare system, and a clear pathway to long-term residency after five years and citizenship after ten. Processing typically takes between two and four months.

Switzerland’s Lump Sum Tax Programme (1,800)

The Swiss Residence Permit with Lump Sum Taxation provides a unique route for wealthy non-Swiss nationals to obtain legal residence in Switzerland through a special tax arrangement. Instead of being taxed on worldwide income and assets, participants pay a fixed tax amount calculated on their annual living expenses, making it an attractive alternative to traditional taxation.

This programme offers Swiss residency, visa-free travel across the Schengen Area, and the possibility of long-term settlement, while still allowing individuals to maintain their international business and professional activities.

Portugal Golden Visa Programme (1,600)

Portugal’s Golden Visa programme allows non-EU investors to gain the right to live, work, and study in Portugal through qualifying investments. Applicants can obtain residency by making an investment in one of the following:

  • Investment or Venture Capital Fund: Contribute a minimum of €500,000 into a Portuguese investment or venture capital fund with a maturity of at least five years, where at least 60% of investments are made in Portuguese-based companies.
  • Donation: Make a €250,000 capital transfer to support artistic production, cultural heritage preservation, or related projects through qualified public entities or recognized foundations.

Greece Golden Visa Opportunities (1,200)

The Greece Golden Visa is a residency-by-investment programme that grants non-EU citizens the right to live in Greece through qualifying property investments. Applicants may invest in the following:

  • Minimum investment of €800,000 in a property in the entire Administrative Region of Attica (includes Piraeus and most of the capital region), the Regional Units of Thessaloniki, Mykonos, Santorini, islands with a population of over 3,100 inhabitants; or
  • Minimum investment of €400,000 in a property in other areas
  • The investor must buy a single property with a minimum area of 120m2, and can’t offer the property for short-term rentals.
  • The investor can qualify for a minimum investment of €250,000 if the investor converts commercial properties to residential use; or restore listed buildings of historical or cultural significance, regardless of size or location.

The programme offers residency for the entire family, visa-free travel across the Schengen Area, and the opportunity to apply for EU long-term residence after maintaining residency status.

Other Attractive Destinations

Hong Kong’s Continued Appeal (800)

The Capital Investment Entrant Scheme (CIES), offers a residency-by-investment path for high-net-worth individuals to live in Hong Kong, one of the world’s leading business hubs, without the need to establish or manage a business. Introduced on March 1, 2024, the programme targets investors seeking both residency and financial flexibility in this vibrant global city.

To qualify, the following must be satisfied:

  • Minimum Investment & Asset Threshold: Applicants must have and invest at least HK$30 million (about USD 3.8 million) in approved assets.
  • Net Asset Holding: These assets must be personally owned, unencumbered, and maintained for at least six months prior to application.
  • Approved Investment Allocation:
    • Invest HK$3 million into the designated CIES Investment Portfolio, managed by the Hong Kong Investment Corporation Limited (HKIC), which supports innovation-focused and strategic projects.
    • The remaining HK$27 million may be allocated across permissible assets such as equities, bonds, SFC-authorized funds, limited partnership funds (capped at HK$10 million), and non-residential real estate (also capped at HK$10 million)

Malta’s Residency by Investment (500)

The Malta Permanent Residence Programme (MPRP) offers non-EU nationals the chance to obtain permanent residency in Malta. Successful applicants and their families gain long-term security, visa-free travel across the Schengen Area, and access to Malta’s high-quality healthcare, education, and infrastructure.

Key Requirements & Investment Options

To qualify, applicants are required to rent or purchase a property in Malta, maintain it for a minimum of five years. 

The applicant must also satisfy the following financial requirements:

  • Rental Option:
    • Minimum annual rent: €14,000
    • Government contribution: €37,000
  • Property Purchase Option:
    • Property value: at least €375,000
    • Government contribution: €37,000
  • Government Administrative Fees:
    • €60,000 for the main applicant (including spouse and minor children)
    • €7,500 per additional adult dependent
    • €15,000 part-payment due on submission; balance payable after Approval in Principle
  • Mandatory Donation:
    • €2,000 to a registered Maltese non-governmental organization (NGO)

Caribbean and Central American Options

Costa Rica’s Investor programmes (350)

The Costa Rica Resident Permit programme offers accessible application options for investors across a range of different financial profiles. Applicants can choose between the Rentier, Pensioner, or Investor categories, each granting a temporary residence permit valid for up to two years. This flexible approach makes it easier for retirees, professionals with passive income, and investors to establish their future in Costa Rica.

Residency Options

  • Rentier Resident Permit: Minimum income: USD 2,500 per month from a stable and permanent source. Income must be accredited by the Costa Rican National Banking System (e.g., a certified bank letter).
  • Pensioner Resident Permit (Retirement Visa): Minimum pension from abroad: USD 1,000 per month.
  • Investor Visa: Minimum investment: USD 150,000 in Costa Rican assets such as real estate, securities, businesses, sustainable tourism projects, or other approved sectors.

The Costa Rica Resident Permit programme grants residency rights to applicants and their eligible family members, while also providing a pathway to permanent residency and eventual citizenship. Beyond legal status, it offers the opportunity to enjoy life in one of Latin America’s most stable and eco-friendly nations, renowned for its excellent healthcare, welcoming culture, and high quality of life.

Cyprus Investment Programme (250)

The Cyprus Permanent Residency program provides applicants with a straightforward route to EU residency for non-EU nationals. By investing a minimum of €300,000 in real estate, shares, or investment funds, applicants and their families can secure the right to reside in Cyprus. In addition, applicants must demonstrate a stable annual income of at least €50,000 generated outside Cyprus.

After maintaining residency for five years, participants may become eligible to apply for Cypriot citizenship, opening the door to full EU rights and benefits.

Pacific Opportunities

New Zealand Investor Visas (150)

The New Zealand Active Investor Plus Visa offers international investors a flexible and efficient option for residency through actively participating in the country’s economic growth. 

Investment Options

  • Option A – Growth Category: A minimum investment of NZD 5 million is required to be made in either direct investments and/or investments in managed funds.
  • Option B – Balanced Category: A Minimum investment of NZD 10 million across a combination of:
    • Bonds
    • Listed equities
    • Philanthropy
    • Property development (new residential, or new/existing commercial or industrial projects)
    • Growth Category investments (direct or managed fund investments)
Mauritius Global Business Hub (100)

Mauritius is emerging as a regional financial hub with favourable tax treaties and a pro-business climate. To attract HNWI’s, Mauritius offers the following programmes.

Mauritius Occupation Permit

The Mauritius Occupation Permit (OP) enables non-citizens to live, work, or retire in Mauritius for up to 10 years, with renewal options available. The programme includes multiple categories to accommodate different profiles:

  • Investor Option: Requires an initial investment of USD 50,000 into a Mauritius-based company, either new or existing with substantial turnover, or investment in high-tech infrastructure.
  • Professional Option: Applicants must be employed locally by a reputable company, with a minimum basic monthly salary of USD 700.
  • Self-Employed Option: Requires at least USD 35,000 in initial investment and registration as a one-person company in Mauritius.
  • Retired Non-Citizen Option: Applicants aged 50+ must transfer at least USD 1,500 per month (or USD 18,000 annually) to a local Mauritian bank account for the duration of the 10-year permit.

Mauritius Residence Permit (by Property Investment)

This programme is designed for individuals seeking long-term residency via real estate investment. Holders can live, work, study, and retire in Mauritius, access healthcare and education, enjoy favorable tax conditions, and benefit from a secure environment.

To qualify for this a programme, a minimum of USD 375,000 invested in approved property schemes, such as Integrated Resort Scheme (IRS), Real Estate Scheme (RES), Property Development Scheme (PDS), Smart City Scheme (SCS), Hotel Investment Scheme (HIS), or Ground+2 Apartment Scheme.

Hungary’s Residency Bond Programme (50)

The Hungary Golden Visa programme offers investors and their families long-term residency in Hungary, a full EU and Schengen member state. Successful applicants receive a renewable 10-year residency permit, granting the right to live, work, and study in Hungary while enjoying visa-free travel across the Schengen Area. 

Notably, the programme does not require applicants to maintain physical residence in Hungary, making it a flexible option for globally mobile investors.

Investment Options

  • Investment Fund: Contribute €250,000 into units of an approved investment fund regulated by the Hungarian National Bank. The fund must allocate at least 40% of its net asset value to Hungarian residential real estate.
  • Donation: Make a €1,000,000 contribution to a designated higher education or cultural institution.

The Economic Impact of Millionaire Migration

Millionaire Migration has had profound economic implications for both the countries they leave behind and the destinations they choose. While host nations stand to gain from new investments, tax revenues, and knowledge transfer, source countries often face the challenge of eroding wealth bases, reduced talent pools, and long-term development hurdles.

Benefits for Destination Countries

Investment Capital Influx

High-net-worth individuals bring significant capital into their new countries of residence, often through real estate purchases, business creation, and portfolio investments. For example, golden visa programmes require significant investments in property or government bonds, creating direct inflows of funds that can be used to promote national development. This capital injection boosts liquidity in local markets and can also support important industries such as renewable energy, infrastructure, and technology.

Job Creation and Economic Growth

HNWIs rarely arrive alone; they establish businesses, expand global networks, and support entrepreneurship in their new country. Whether through setting up family offices, funding startups, or investing in hospitality and tourism, their activities create new employment opportunities and contribute to GDP growth. 

Tax Revenue Generation

Even in low-tax jurisdictions, HNWI’s contribute through indirect taxation, such as VAT, property taxes, and stamp duties on real estate. In higher-tax countries, they can significantly expand the tax base, providing governments with additional resources to fund social services, healthcare, and infrastructure. 

Challenges for Source Countries

Brain Drain Effects

Millionaire migration often overlaps with the relocation of entrepreneurs, innovators, and investors who play a significant role in domestic economies. Their departure can result in what’s known as a brain drain, leaving source countries with fewer experienced business leaders and reduced access to capital. Over time, a continued brain drain weakens a country’s competitiveness.

Tax Base Erosion

For high-tax jurisdictions such as the UK, France, or China, losing wealthy residents means losing access to substantial tax revenues, from income and inheritance taxes to capital gains contributions. 

Economic Development Impact

Source countries not only lose immediate tax and investment revenues but also face longer-term setbacks in domestic capital accumulation, market confidence, and international perception. As capital and talent move abroad, local markets may stagnate, innovation may slow, and investor confidence can weaken. This is particularly damaging for developing nations, where wealthy individuals often play pivotal roles in financing growth industries, supporting philanthropy, and mentoring new generations of entrepreneurs.

How Harvey Law Group Can Help Your Migration Journey

Millionaire migration is more than simply choosing a programme, it requires a coordinated legal, tax, and mobility strategy designed to protect your assets, family, and long-term goals. Harvey Law Group (HLG) delivers end-to-end support across golden visa programmes, investor visa schemes, and citizenship by investment, ensuring a smooth, compliant pathway from first consultation to residency.

Expert Visa and Residency Services

Golden Visa programme Guidance

Our experts will help to identify the most suitable residency-by-investment options for your needs. We compare investment thresholds, timelines, renewals, and Schengen/EU access to align with your liquidity, risk appetite, and relocation timeline.

Investor Visa Applications

Full preparation and filing of investor visa applications (business plans, source-of-funds documentation, investment evidence), with proactive case management to minimize delays and address regulator queries before they become issues.

Comprehensive Legal Support

Due Diligence Services

Pre-filing compliance checks, source-of-wealth reviews, and risk screening to enhance application credibility and anticipate regulator scrutiny.

Ongoing Compliance Management

Post-approval support for renewals, minimum-stay tracking, reporting duties, investment holding periods, and policy changes.

Tailored Solutions for High Net Worth Individuals

Personalized Assessment

A confidential review of your objectives (asset protection, education, healthcare, succession, lifestyle) matched to qualifying investments and jurisdictions with stable regulation and favorable HNWI mobility frameworks.

Multi-Jurisdiction Strategies

Design of layered residency and citizenship portfolios to diversify geopolitical and tax exposure, combining residency by investment with second citizenship where appropriate.

Contact HLG to schedule a confidential consultation and secure your global mobility with a trusted, end-to-end partner.

Frequently Asked Questions

What is millionaire migration and why is it happening?

Millionaire migration refers to the growing trend of wealthy individuals relocating to different countries for better tax policies, political stability, and lifestyle opportunities. In 2025, a record 128,000 millionaires moved abroad, driven by tax optimization, geopolitical uncertainty, and the availability of golden visa programmes and investor residency schemes.

Which countries are losing the most millionaires in 2025?

China leads with 15,200 millionaire departures, followed by the UK with 9,500 wealthy individuals leaving. Other significant source countries include India (4,300), South Korea (1,200), and Russia (1,000). The UK’s elimination of non-dom tax status and China’s regulatory environment are major factors driving this wealthy migration trend.

What are the top destination countries for millionaire migration?

The UAE leads with 6,700 new millionaire residents, followed by the United States (3,800) and Singapore (3,500). These countries attract high-net-worth individuals through golden visa programmes, favorable tax policies, and business-friendly environments. European destinations like Italy, Switzerland, and Portugal also remain popular choices.

How much does it cost to participate in golden visa programmes for millionaire migration?

Investment requirements vary significantly by country. The UAE Golden Visa starts at AED 1 million ($280,000), while Singapore’s Global Investor Programme requires SGD 10 million ($7.5 million). European options like Portugal’s Golden Visa need €500,000, and Greece offers property investment from €400,000-€800,000 depending on location.

What are the main reasons driving wealthy individual relocation trends?

The primary drivers of millionaire migration include tax optimization (avoiding capital gains and inheritance taxes), seeking political and economic stability, accessing better business opportunities, and improving quality of life through superior healthcare, education, and lifestyle amenities. Currency stability and regulatory certainty also play crucial roles.

How can Harvey Law Group help with millionaire migration and investor visa applications?

Harvey Law Group provides end-to-end support for high-net-worth individual relocation, including golden visa programme guidance, investor visa applications, due diligence services, and ongoing compliance management. Our experts offer personalized assessments and multi-jurisdiction strategies to help you navigate the complex world of residency by investment programmes.

What is the difference between golden visa programmes and citizenship by investment?

Golden visa programmes typically offer residency rights in exchange for investment, with the possibility of eventual citizenship after maintaining residency for several years. Citizenship by investment programmes provide immediate citizenship and passport access upon qualifying investment. Both are popular options in the current wealth migration trends.

How does tax-driven migration affect wealthy individuals’ decision-making?

Tax optimization is often the primary factor in millionaire migration decisions. Wealthy individuals seek jurisdictions with zero or low personal income tax, no capital gains tax, and favorable inheritance tax policies. Countries like the UAE, Singapore, and Monaco are particularly attractive due to their tax-efficient structures for international tax planning.

What are the economic impacts of millionaire exodus on source countries?

Countries experiencing millionaire migration face tax base erosion, brain drain effects, and reduced domestic investment. The UK’s loss of 9,500 millionaires, for example, represents significant tax revenue and entrepreneurial talent leaving the country. This can weaken innovation, reduce job creation, and impact long-term economic competitiveness.

Can Harvey Law Group help design a multi-jurisdiction strategy for HNWI mobility?

Yes, Harvey Law Group specializes in creating layered residency and citizenship portfolios for high-net-worth individuals. We combine different residency by investment options with second citizenship opportunities to diversify geopolitical and tax exposure, ensuring optimal asset protection and global mobility for our clients.

What role do geopolitical factors play in wealthy migration patterns?

Geopolitical instability significantly influences millionaire migration decisions. Factors like regional conflicts, economic sanctions, currency fluctuations, and regulatory uncertainty drive wealthy individuals to seek safer jurisdictions. Examples include Russian millionaires relocating due to sanctions and South Korean HNWIs moving due to regional tensions.

How do investor visa schemes benefit destination countries in millionaire migration?

Destination countries benefit from millionaire migration through significant capital influx, job creation, tax revenue generation, and knowledge transfer. Golden visa programmes bring direct investment into real estate, businesses, and government projects, stimulating economic growth and creating employment opportunities for local populations.

What professional help is recommended for millionaire migration applications?

Professional legal and immigration assistance is highly recommended for millionaire migration due to complex documentation requirements, compliance obligations, and substantial financial investments. Experts can help with due diligence, source of funds verification, application preparation, and ongoing compliance management. Harvey Law Group offers specialized services for high-net-worth individual relocations and golden visa programmes.

Are there specific requirements for maintaining residency under golden visa programmes?

Requirements vary by country but typically include maintaining the qualifying investment, spending minimum time in the country annually, and complying with reporting obligations. Some programmes like Portugal require just 7 days per year, while others may require more substantial physical presence. Understanding these requirements is crucial for successful wealth migration planning.

About the Author

Jean-François Harvey

Jean-François Harvey

Founder & Managing Partner

Jean-François Harvey is recognized internationally as an expert in immigration law, and he brings a wealth of experience in providing comprehensive immigration law services to corporations and high net worth individuals.

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