The world is witnessing the largest voluntary movement of private wealth in modern history, with high-net-worth individuals increasingly seeking residency or citizenship in new countries, according to the Henley Private Wealth Migration Report 2025.

A record 142,000 high-net-worth individuals (HNWIs), defined as people with at least $1 million in liquid investable assets, are expected to relocate or secure alternative residency this year.

That number is projected to rise to 165,000 in 2026, highlighting an accelerating trend in global wealth mobility.

The United Arab Emirates remains the top destination, with 9,800 millionaires expected to gain residency in 2025, up sharply from 6,700 last year.

The report credits the UAE’s appeal to zero income tax, political stability, modern infrastructure and investor-friendly regulations.

Saudi Arabia emerged as the fastest-growing destination, projected to attract more than 2,400 inbound millionaires this year, an eightfold increase driven by returning nationals and foreign investors settling in Riyadh and Jeddah.

In contrast, the United Kingdom is facing its largest wealth outflow ever recorded, with 16,500 HNWIs projected to acquire residency elsewhere in 2025.

China follows as the second-largest loser, with 7,800 millionaires expected to move their residency abroad.

The report notes that although the 20 countries most affected by wealth migration account for just 12% of the global population, they represent 89% of people in humanitarian and economic transition, and are projected to host more than half of the world’s extreme poor by 2029, underscoring the broader economic implications of capital movement.

Henley & Partners stresses that wealth migration is less about permanent relocation and more about strategic flexibility.

Many wealthy individuals pursue alternative residencies as a “Plan B,” securing legal options without fully leaving their home countries.

The United States, ranked second globally, is expected to welcome 7,500 new HNWIs in 2025, primarily through the EB-5 Immigrant Investor Program, which has generated more than $50 billion in foreign investment and created hundreds of thousands of jobs.

The proposed $5 million Trump Gold Card visa, intended as a replacement for EB-5, has sparked debate over feasibility, costs and demand among ultra-wealthy investors.

Experts caution that while interest is high, only a small fraction of applicants are likely to qualify, noting that most wealthy individuals are reluctant to spend a large share of their net worth on immigration programs.

Overall, the report highlights a growing global competition not just for talent, but for capital itself, reshaping economic influence as wealth increasingly crosses borders.