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 substantial. Federal and state taxes can be complex, and immigration pathways depend on an applicant’s circumstances. Yet for many founders and investors, access to American customers and investment networks outweighs those costs.
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: roughly 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 pathways have broadened for certain eligible candidates. Simultaneously, relocation frequently hinges upon a particular commercial venture or career position; the nation’s charm differs from that of a conventional wealth-management hub.
6. Singapore: around 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 advantages are accompanied by certain limitations. Real estate and education can command high prices, while the criteria governing residency, capital allocation, and family-office operations remain highly restrictive. Merely possessing capital does not ensure authorization to reside there.
7. Portugal: approximately 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 draw is less about low taxes than about stability, education, healthcare, and long-term prospects for families. Toronto and Vancouver have large international business communities, and several cities offer opportunities in technology, finance, and natural resources.
Rising housing expenses and shifting immigration policies complicate the choice. Still, for numerous affluent arrivals, the allure of establishing a family and enterprise in a stable environment stays strong.
10. Australia: about 1,000 net arrivals
Australia shares the tenth position alongside Canada within the 2025 forecasts. Its allure is built upon robust institutions, prominent metropolises boasting global commercial connections, education, medical care, and a lifestyle that draws in households alongside founders.
It is crucial to avoid mistaking high demand for simple accessibility. Australia shut its previous business innovation and investment visa stream to fresh applicants back in 2024. Future residents need to meet the criteria through currently active immigration channels; financial capital on its own does not serve as a route to residency.
What the ranking reveals
These countries do not attract millionaires for one universal reason. The United Arab Emirates competes on international connectivity and personal tax treatment; the United States on market access and opportunity; Switzerland and Singapore on stability and financial services; and several European destinations on a combination of lifestyle, location, and targeted residence or tax policies.
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.
