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 tops the list by a wide margin. Dubai and Abu Dhabi combine international business links, modern infrastructure, luxury housing, and access to markets across Europe, Asia, and Africa. The absence of personal income tax is a major attraction for some wealthy residents, although other taxes and costs still apply.
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: about 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: about 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: roughly 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 standing mirrors its ongoing economic growth and its drive to draw global talent and investment. Key development initiatives, an expanding private sector, and emerging prospects across energy, technology, tourism, and construction provide compelling incentives for business owners and corporate leaders to move there.
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: about 1,600 net arrivals
Singapore provides political stability, a robust legal framework, advanced financial solutions, and a strategic hub for commercial operations throughout Southeast Asia. Entrepreneurs and families looking to oversee their portfolios while remaining adjacent to rapidly expanding regional markets find it particularly appealing.
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: approximately 1,400 net arrivals
Portugal attracts affluent newcomers with its climate, relative safety, established international communities, and access to Europe. Lisbon and Porto appeal to entrepreneurs and remote business owners, while coastal areas draw families and retirees.
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.
While residency-by-investment programs have successfully sparked interest, qualifying real estate thresholds and requirements differ depending on the region and the nature of the investment. Growing demand has simultaneously invited scrutiny regarding housing affordability, demonstrating how an influx of capital can generate challenges alongside its economic advantages.
9. Canada: approximately 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.
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 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.
Those statistics likewise omit a significant nuance: nations frequently draw affluent immigrants while simultaneously experiencing outward migration, meaning positive net migration fails to reveal either the duration of stays or the extent of regional investment. The locations boasting the greatest longevity tend to transcend mere introductory perks, functioning instead as comprehensive environments where enterprises thrive, households put down roots, and citizens look ahead with assurance.
