According to Business Insiderinvestment-migration advisory firm Henley & Partners estimated that 134,000 ultra-high-net-worth individuals (UHNWIs), defined as those holding at least US$30 million in investable assets, migrated to new countries in 2024. The figure was projected to surpass 142,000 by the end of 2025, underscoring what analysts describe as a significant reshaping of global wealth flows.

In 2025, Henley & Partners reported inquiries from individuals representing 218 nationalities, with applications from 100 nationalities across 95 countries for more than 40 residency and citizenship programs, a 28% increase from the previous year.

An advisor serving UHNWIs explained to CNBC that demand for cross-border relocation services, residency planning and second citizenship applications has increased amid geopolitical tensions and sudden policy changes.

Wealth advisors say tax efficiency remains a primary consideration when selecting a new immigration destination for UHNWIs. Jurisdictions with limited capital gains, income or estate taxation are particularly attractive to globally mobile investors.

Political stability is another major consideration. Heightened uncertainty, civil unrest and conflict in parts of Latin America, Africa and Eastern Europe have encouraged affluent individuals to seek safer and more predictable environments, according to experts.

Quality of life continues to influence decision-making, with healthcare, education standards, infrastructure and public safety frequently cited as determining factors.

Business opportunities also play a significant role. Wealthy entrepreneurs are increasingly drawn to jurisdictions with streamlined regulations, pro-business environments, simpler company formation processes, and digital connectivity.

Migration specialists additionally highlight the growing importance of secondary residency and citizenship, as additional passports can enhance travel freedom and serve as a safeguard against future political or regulatory shifts in an individual’s home country.

Taking these factors into account, six countries have emerged as leading destinations for high-net-worth migration.

1. United Arab Emirates

The United Arab Emirates, particularly Dubai, has become a prominent hub due to its low-tax environment, strong real estate sector, and business-friendly regulatory framework.

A 2025 report by Yahoo Finance also cited global connectivity, personal safety, and luxury lifestyle offerings as key motivations for relocation, referencing comments by Murat Coskun, managing partner at Get Golden Visa.

Experts estimate that nearly 10,000 wealthy foreigners are expected to relocate to the United Arab Emirates this year.

2. Portugal

Portugal attracts affluent migrants thanks to its warm climate, low taxes, and laid-back lifestyle, as well as a pathway to European Union residency.

“Portugal’s tax incentives, like the scientific research and innovation tax incentives, are incredibly attractive,” Basil Mohr Elzeki, Managing Partner at Henley & Partners, told Business Insider. “With a fast-track route to citizenship, many are opting to apply for residency as a hedge.”

3. Singapore

Singapore remains a leading destination due to its strategic position connecting Western and Asian markets, the absence of capital gains tax, and its reputation as a regional financial and business hub.

The city-state is especially attractive to entrepreneurs and investors across Asia, as well as Western business owners seeking global connectivity, according to Andrew Amoils, head of research at New World Wealth, a South Africa-based wealth intelligence company.

4. Italy

Italy has gained traction among wealthy migrants, partly due to a flat tax capped at 200,000 euros (US$235,795) annually, regardless of income.

Its rich cultural heritage, lifestyle appeal, and well-established luxury property market have further strengthened its attractiveness.

5. Australia

Australia continues to attract investors and retirees seeking stable economies, excellent healthcare systems, and high quality of life, according to experts.

“Australia is still a top choice for South Africans and Brits, especially retirees,” Amoils told Business Insider.

6. New Zealand

Amendments to New Zealand’s Active Investor Plus visa, which took effect in April 2025, have become a key driver of wealthy migration, according to The Guardian. The changes include lower investment thresholds, the removal of English-language requirements, and a reduction in the physical residency requirement from three years to just three weeks.

Immigration New Zealand said the revised program has attracted 573 applications covering 1,833 individuals. Prior to the changes, the visa drew only 116 applications over a two-and-a-half-year period.