UK and Australia capital outflow

Wealthy individuals are increasingly relocating from the UK and Australia, seeking better environments for their assets and lifestyles. In 2025, the most popular destinations for these high-net-worth individuals are the United Arab Emirates (UAE), the United States, Italy, Portugal, Singapore, and Saudi Arabia. The UAE, in particular, stands out as the top destination due to its zero income tax, high quality of life, and luxury amenities.

Top Destinations for Wealthy Migrants

• UAE (especially Dubai) is attracting around 9,800 high-net-worth individuals (HNWIs) in 2025, thanks to its zero income tax, residency opportunities for real estate investors, and cosmopolitan lifestyle.
• The United States remains a key magnet with an estimated net inflow of around 7,500 millionaires in 2025, bolstered by investor visa programs and robust economic prospects.
• Italy and Portugal are popular for wealthy Europeans due to attractive tax regimes and “golden visa” programs that offer residency or even citizenship by investment.
• Saudi Arabia is the fastest-growing wealth hub, forecasted to receive over 2,400 new millionaire residents in 2025 as it modernizes and opens to global investors.
• Singapore draws in wealth with its tax-friendly policies, safety, and stable environment, making it a favored choice for Asian elites and international entrepreneurs.

Reasons for Relocation

• Key drivers include high taxation, political instability, economic uncertainty, and a desire for better lifestyle and wealth preservation.
• Countries that offer residency or citizenship via investment, political stability, and low taxes are consistently the top choices for relocating millionaires.
• Europe—especially Portugal and Italy—remains popular among UK and Australian expatriates wanting proximity and favorable tax conditions.

Notable Trends

• The UK faces the largest ever outflow of wealthy residents, with about 16,500 HNWIs projected to leave in 2025.
• Australia is also recording a net outflow among its richest citizens, though its high quality of life still attracts some international arrivals.

In summary, the wealthy are mostly moving capital and residency to the UAE, US, Portugal, Italy, Singapore, and Saudi Arabia, primarily driven by tax, lifestyle, and stability considerations.

References

• https://www.beaconglobalwealth.com/blog/why-are-people-moving-out-of-the-uk-and-where-are-they-moving-to
• https://www.businessinsider.com/millionaire-migration-booms-top-countries-attracting-wealth-in-2025-2025-8
• https://www.forbes.com.au/news/billionaires/countries-gaining-and-losing-the-most-millionaires-in-2025/