The Great Wealth Migration: Why the World’s Rich Are Relocating at an Unprecedented Pace

In recent years, wealthy individuals and families have been relocating across international borders at rates some experts describe as historically elevated. While wealthy migration is not new, the combination of geopolitical uncertainty, tax policy shifts, and global mobility has accelerated movement among the ultra-high-net-worth (UHNW) population, reshaping national wealth patterns and prompting fresh strategies in cross-border planning. 

A core data point highlighted across multiple reports — originally noted in financial media coverage including by CNBC — comes from Swiss banking giant UBS’s annual Billionaire Ambitions Report, which tracks global billionaire wealth and mobility. According to UBS, 36 per cent of 87 billionaire clients surveyed had already relocated at least once in 2025, while another approximately 9 per cent were considering moving. Among billionaires aged 54 and under, around 44 per cent changed their country of residence in that period. 

These figures illustrate a broader shift in how the world’s wealthiest view nationality and domicile — not merely as a lifestyle decision, but as a strategic component of long-term wealth preservation.

From Tax and Lifestyle to Risk and Resilience

Historically, relocation decisions among affluent populations were driven by familiar factors: access to business opportunities, favourable tax regimes, climate and lifestyle, quality education and healthcare. But the motivations driving the latest wave of mobility are more complex. Across multiple advisory interviews, wealth managers note that concerns over geopolitical instability, regulatory change and unpredictable tax environments now rank high alongside lifestyle considerations. 

Advisers specialising in mobility and cross-border planning describe this shift as one from opportunity-seeking moves to risk-managed migration. In other words, wealthy families are increasingly reating residency and citizenship as elements of broader international planning — sometimes compared in principle to diversification — although suitability and outcomes depend entirely on individual circumstances.

This shift reflects a broader trend in global mobility where major policy changes can rapidly alter the attractiveness of jurisdictions. For example, changes to the United Kingdom’s historic non-domicile tax regime — which had long appealed to affluent expatriates — illustrate how quickly tax treatment can shift and influence relocation decisions. While the UK has traditionally been a hub for international wealth, recent years have seen increased outflows as mobile wealth diversifies into other jurisdictions. 

Where the Wealthy Are Moving

The increasing mobility of wealthy individuals has favoured certain destinations that combine political stability, favourable regulatory frameworks, and lifestyle advantages. Below are some of the most cited destinations attracting affluent movers:

United Arab Emirates — Tax-Efficient and Strategically Positioned

The United Arab Emirates (UAE) has emerged as a major destination for the ultra-wealthy. Its absence of personal income tax, wealth tax, and capital gains tax may make it attractive to high-net-worth individuals seeking regulatory clarity and tax efficiency — though the specifics of tax treatment always depend on individual circumstances and local law. 

Advisers note that demand for residency services in the UAE has surged, particularly in Dubai and Abu Dhabi, where family offices, entrepreneurs and investors are establishing long-term bases not just for fiscal reasons, but also for access to markets in Europe, Asia and Africa. 

Singapore — Financial Stability and Wealth Management Hub

Singapore remains a premier destination for wealthy families from Asia and beyond. Its well-regulated financial ecosystem, robust legal framework and strong institutional stability have long made it a core hub for global wealth management — incentivising affluent residents who prioritise governance and security. 

Though migration is more selective and criteria stricter than in some other regions, Singapore’s role as a trusted global financial centre continues to draw long-term residents and investors. 

Europe — Golden Visas and Quality of Life

Several European countries, including Portugal and Greece, have attracted wealthy migrants through residency-by-investment (often referred to as “golden visa”) programmes that grant access to the Schengen Area. These schemes blend access to European markets with high quality of life, cultural richness, and well-developed infrastructure. 

Other European destinations such as Switzerland, Italy and Monaco remain attractive for families seeking long-term stability, predictable legal systems and well-established wealth environments.

Traditional Safe Havens — Canada and Others

Countries like Canada and Australia, though perhaps seeing less dramatic spikes in wealthy migration than the UAE, continue to appeal to affluent families prioritising governance stability, social infrastructure and long-term residency security. 

The Broader Implications of Wealth Migration

The rise in cross-border mobility among wealthy individuals has broader economic and geopolitical implications. Countries that successfully combine political stability, attractive regulatory and tax environments and quality of life are increasingly competing for global mobile capital. This competition creates policy implications for nations seeking to retain and attract human capital, discourage capital flight, and balance fiscal needs with competitiveness.

For wealth planners, this shift underscores the importance of multi-jurisdictional strategies. Families with substantial assets are now incorporating residency planning, tax planning, citizenship diversification and succession planning into their overall wealth frameworks — recognising that economic and political environments evolve and that mobility can serve as a buffer against uncertainty. 

Moreover, the consequences of wealth migration are not isolated to the ultra-wealthy. Broader economic ecosystems — including real estate markets, financial hubs, education sectors and local labour markets — are influenced by the movement of capital and individuals with significant spending power and global networks.

Conclusion: A Historic Shift in Wealth Strategy

The global movement of wealthy individuals is no longer driven solely by classic motives such as lifestyle and favourable tax treatment. Instead, today’s mobility trends reflect deeper considerations around risk management, geopolitical stability, and long-term resilience.

With data from UBS suggesting that a substantial proportion of billionaires are moving or planning to move, and with major financial and governmental jurisdictions responding with competitive residency frameworks, wealth migration has become a defining feature of the early-21st-century global economy. 

For individuals and families considering relocation as part of broader planning, the complexity of tax, legal and regulatory environments emphasises the importance of bespoke professional advice tailored to personal circumstances.

Disclaimer

This article is for general informational purposes only and does not constitute financial, tax, legal, or investment advice. Tax treatment varies by jurisdiction and individual circumstances and may change.References to jurisdictions, tax regimes or regulatory frameworks are illustrative and subject to change. Tax treatment depends on individual circumstances and may be affected by future legislative developments.