The UAE Ranks as Top Destination for Wealthy Individuals
A recent report by CNBC highlights that the United Arab Emirates has emerged as the leading destination for affluent individuals, largely due to its absence of personal income tax, wealth tax, or capital gains tax, in addition to its “golden visa” program.
According to estimates from Henley & Partners, approximately 9,800 millionaires relocated to the UAE last year, marking the highest number globally.
Experts note that the motivations for such relocations are no longer solely tied to growth or tax benefits; they have shifted towards defensive strategies aimed at asset protection and ensuring the preservation of wealth for future generations.
The trend of wealthy families moving across borders has escalated dramatically, characterized by experts as the largest recorded wave of private wealth migration in history.
A report from UBS, the Swiss bank, indicates that 36% of the 87 billionaires surveyed have already moved to another country by 2025, while an additional 9% are contemplating a similar decision.