POINTS
The United Arab Emirates is set to lead for the third year in a row as the world’s top destination for the wealthy, expecting to see a record-breaking inflow of 6,700 millionaires by year end, according to The Henley Private Wealth Migration Report 2024.
The United States comes in second for attracting foreign high-net-worth individuals, and is projected to see an inflow of 3,800 millionaires in 2024.
China expects to see the biggest millionaire exodus with a projected 15,200 HNWIs anticipated to leave the country by the end of the year
The UAE is increasingly solidifying its position as a safe haven for high-net-worth individuals globally, owing largely to the country’s favorable tax policies, strategic location, world-class infrastructure and more, according to the report.
The Middle Eastern country also offers a “golden visa” aimed at attracting talent to reside in the UAE. The visa is aimed at “providing long-term residence to foreign investors, entrepreneurs, and talented individuals including specialists, students, and researchers who make a significant investment to the country,” according to Henley & Partners.
These migration inflows into the UAE are largely boosted by movement out of the greater Middle East region, India, Russia, Africa, and more recently, the expected influx of individuals from the United Kingdom and Europe, according to the research.
The UAE is increasingly solidifying its position as a safe haven for high-net-worth individuals globally, owing largely to the country’s favorable tax policies, strategic location, world-class infrastructure and more, according to the report.
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With the U.S. poised to bottom out in the future due to our politicians selling us out and spending us into oblivion, I am always kinda curious where in the world the extremely elusive combination of freedom, safety and prosperity might manifest in the future, but UAE being almost dead center in the middle of the Muslim world would make me very nervous as a non-muslim to plan my future, despite how secular and safe they might seem at the current time. But I suppose most of the very rich don’t look at UAE as a long term settlement, but more of a temporary haven. Thinks can turn unfavorable awfully fast sometimes though.
I bet the Dutchess of yachts is looking to head to the Middle East.