An impressive estimation of 9,800 millionaires is expected to move to the UAE as the current global wealth migration ramps up.
The United Arab Emirates is quickly solidifying its status as a global destination for wealthy people as an astounding 9,800 millionaires are anticipated to move in here this year or almost one every hour on average.
For the third year in a row, the United Arab Emirates is expected to welcome more millionaires than any other nation as published recently by Henley Private Wealth Migration Report 2020.
With 817 new millionaires per month or 27 every day, this inflow helps to solidify Dubai and Abu Dhabi’s standing as global hubs for wealth and prosperity.
The UAE’s tax-friendly policies, long-term residence options, investor-friendly rules and top-notch infrastructure are expected to attract an estimated $63 billion in private wealth in 2025.
One of the main causes of this flight is the UK, a region where extensive modifications to the nation’s residency and tax regulations have led to what some experts are referring to as a “Millionaire Brexit.”
Citing the UK’s increasingly onerous tax climate, British millionaires and investors have already taken the step, including Norwegian shipping tycoon John Fredriksen. The Daily Mail claims that Fredriksen, who just sold his London property, simply called post-reform a Britain “hell.”
A record 16,500 millionaires left Britain in 2025 alone as a result of the country’s new tax system, which includes increased inheritance and capital gains taxes. The removal of the Non-Domiciled (Non-Dom) status and general regulatory instability and according to the research, this makes United Kingdom lose most number of net millionaires globally this year.
On the other hand, Dubai is increasingly viewed as the opposite. With no inheritance tax, capital gain tax or personal income tax, the city provides both financial independence and international access.
Access to international schools, first-rate medical treatment, a cosmopolitan lifestyle and long-term Golden Visas have all contributed to the city’s attraction.
Millionaires from India, Nigeria, South Africa, Russia and the UK are drawn to the UAE due to its positives across continents.
Dubai is now seen as a developing hub for global finance and innovation and the Henley research claims that the shift is not just happening to individuals but also to family offices, hedge funds and startups.
Recently, a number of international corporations declared their intention to move their worldwide or regional headquarters to the United Arab Emirates. Michael Platt, the founder of BlueCrest Capital, has just recently moved the hedge fund’s operations from London to Dubai due to “unlimited opportunity.”
According to wealth managers, the UK may lose more than £30 billion in capital flight over the next two years if it continues on its current course.
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