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 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: 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.
Italy can also appeal to individuals with significant earnings originating abroad, largely due to a favorable tax framework designed for qualifying newcomers. Nevertheless, the conditions have evolved over the years, and this advantage does not imply that every revenue stream avoids standard 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: roughly 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 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 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 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: 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.
High housing costs and changing immigration rules complicate the decision. For many wealthy newcomers, however, the prospect of building a family and business life in a predictable environment remains compelling.
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.
