The United Arab Emirates and the United States lead the world in attracting migrating millionaires, followed by a mix of European destinations, Asian financial centers, and countries offering access to growing markets or a particular lifestyle.
The ranking below uses projected net inflows of millionaires in 2025 from Henley & Partners and New World Wealth. Net inflow means arrivals minus departures, not the total number of millionaires living in a country. The report generally counts people with at least US$1 million in liquid investable wealth. These figures are estimates, so they are best read as a comparison of migration patterns rather than a precise count of every move.
1. United Arab Emirates: about 9,800 net arrivals
The United Arab Emirates leads the ranking by a considerable margin. Dubai and Abu Dhabi blend global commercial networks, contemporary infrastructure, upscale residences, and connectivity to markets throughout Europe, Asia, and Africa. The lack of individual income tax serves as a primary draw for affluent individuals, even though alternative levies and expenses remain applicable.
Long-term residence routes, including eligibility-based golden visas, also make it easier for some entrepreneurs, investors, and skilled professionals to establish a base. Its appeal is broader than tax: business owners value its flight connections and expanding financial and professional-services sectors.
2. United States: roughly 7,500 net arrivals
The United States attracts wealthy people seeking a large consumer market, deep capital markets, leading universities, and opportunities to build or invest in businesses. New York remains a center for finance, while places such as California, Texas, and Florida offer different combinations of technology, entrepreneurship, lifestyle, and tax treatment.
The trade-offs are significant. Federal and state taxes can prove intricate, while immigration routes rely entirely on an applicant’s unique situation. Even so, for numerous founders and investors, tapping into American customers and investment networks outweighs these drawbacks.
3. Italy: roughly 3,600 net arrivals
Italy pairs established cities and attractive places to live with access to the wider European market. Milan’s business and financial activity draws internationally mobile professionals, while other regions appeal to families looking for culture, property, and a different pace of life.
A special tax regime for eligible new residents can also make Italy attractive to people with substantial foreign-source income. Its terms have changed over time, however, and the benefit does not mean all income escapes ordinary Italian taxation.
4. Switzerland: about 3,000 net arrivals
Switzerland’s reputation for political stability, strong institutions, private banking, and high-quality services continues to attract wealthy families. Zurich and Geneva are especially important for finance and international business, while the country’s education, healthcare, and transport add to its appeal.
Taxes and residence conditions vary by canton and personal situation. Some eligible foreign residents may have access to special tax arrangements, but Switzerland is not a uniformly low-tax destination. Its high cost of living is another important consideration.
5. Saudi Arabia: about 2,400 net arrivals
Saudi Arabia’s position reflects its economic expansion and efforts to attract international talent and capital. Major development projects, a growing private sector, and opportunities linked to energy, technology, tourism, and construction create reasons for entrepreneurs and executives to relocate.
Residency options have expanded for some qualified applicants. At the same time, a move often depends on a specific business opportunity or professional role; the country’s appeal is not identical to that of a traditional wealth-management center.
6. Singapore: about 1,600 net arrivals
Singapore offers political stability, a strong legal system, sophisticated financial services, and a strategic base for doing business across Southeast Asia. It is especially attractive to business owners and families seeking to manage investments while staying close to fast-growing regional markets.
Its strengths come with constraints. Housing and schooling can be expensive, and requirements affecting residency, investment, and family-office activity are selective. Wealth alone does not guarantee permission to live there.
7. Portugal: about 1,400 net arrivals
Portugal lures affluent new residents thanks to its pleasant weather, high level of safety, thriving expat networks, and seamless connectivity to the rest of Europe. While Lisbon and Porto capture the attention of founders and digital nomads, families and retirees typically gravitate toward the coastal regions.
Policy shifts carry significant weight in this context. Acquiring real estate no longer qualifies investors for Portugal’s golden visa through the previous property pathway, and the former sweeping tax exemptions for recent arrivals have been phased out. Although Portugal continues to draw interest, future expatriates ought to evaluate the updated regulations instead of depending on outdated assumptions concerning residency or fiscal advantages.
8. Greece: about 1,200 net arrivals
Greece combines Mediterranean living with European access and an active property market. Athens offers urban business opportunities, while islands and coastal areas appeal to people who can split their time between countries.
Residency-by-investment rules have helped generate interest, but qualifying property thresholds and conditions vary by location and type of investment. Rising demand has also brought scrutiny of housing affordability, illustrating that an influx of wealth can create pressures alongside economic benefits.
9. Canada: about 1,000 net arrivals
Canada’s appeal stems less from low taxation than from stability, education, healthcare, and enduring prospects for families. Toronto and Vancouver boast expansive global business networks, while numerous urban centers present prospects across technology, finance, and natural resources.
High housing costs and changing immigration rules complicate the decision. For many wealthy newcomers, however, the prospect of building a family and business life in a predictable environment remains compelling.
10. Australia: about 1,000 net arrivals
Australia shares tenth place with Canada in the 2025 projections. Its appeal rests on strong institutions, major cities with international business links, education, healthcare, and a lifestyle that attracts families as well as entrepreneurs.
It is important not to confuse demand with easy entry. Australia closed its former business innovation and investment visa program to new applications in 2024. Prospective residents must qualify under the visa routes currently available; wealth by itself is not an immigration pathway.
What the ranking reveals
These nations fail to draw wealthy individuals for a single, uniform motive. The United Arab Emirates relies on global connectivity and personal tax advantages; the United States leverages market reach and enterprise; Switzerland and Singapore lean on security and banking expertise; whereas numerous European locales attract newcomers through an amalgamation of daily living, geography, and specialized residency or fiscal frameworks.
The figures also leave out an important distinction: a country can attract wealthy newcomers while others leave it, and a strong net inflow does not show how long arrivals stay or how much they invest locally. The most durable destinations are likely to be those that offer more than an initial incentive—a place where businesses can operate, families can settle, and residents can plan with confidence.
