Top 10 Countries Attracting the Most Millionaires in 2025. The United Arab Emirates and the United States are leading the global surge in millionaire migration in 2025, according to a new report by Henley & Partners. The study reveals that ten countries saw a record influx of high-net-worth individuals (HNWIs) — those with investable assets exceeding USD 1 million.
Key international hubs such as Dubai International Airport (DXB) and John F. Kennedy Airport (JFK) have been instrumental in facilitating this trend. The movement is largely fueled by attractive tax regimes, golden visa schemes, and strategic economic diversification.
Here’s a data-driven look at the top destinations shaping global wealth migration in 2025.
Countries Gaining The Highest Millionaires in the World
1. United Arab Emirates (UAE)
The United Arab Emirates (UAE) welcomed 9,800 net new millionaires in 2025, translating to approximately USD 63 billion in fresh private capital. Investors credited zero personal income tax, a streamlined Golden Visa program, and world‑class infrastructure for this influx.
Megacities like Dubai (DXB) and Abu Dhabi (AUH), among other emirates, benefited directly from these investor‑friendly policies. The UAE continues to attract global wealth through its strategic vision and a robust economic framework.
2. United States of America (USA)
In 2025, the United States added 7,500 millionaires, adding about $43.7 billion to the U.S. economy. Wealthy individuals favor the EB-5 investor visa, the emerging “gold card” proposals, and the strengthening of U.S. capital markets.
Major hubs like New York (JFK) and Los Angeles (LAX) continue to attract wealthy immigrants despite their high tax burdens.
3. Italy
Italy recorded 3,600 millionaire arrivals in 2025, adding USD 20.7 billion in private capital. A flat‑tax policy capping foreign‑sourced income at €200,000 annually has enhanced the country’s appeal.
Luxury destinations such as Rome (FCO), Milan (MXP), and Lake Como now serve as popular second‑home markets for European and global elites.
4. Switzerland
Switzerland attracted 3,000 millionaires in 2025, with a combined net worth of around USD16.8 billion, by offering its attractive “one-time” taxation scheme and the low-tax cantons of Zug and Schwyz.
International capital markets continue to be attracted to Switzerland’s political neutrality, financial security, and sound services.
5. Saudi Arabia
In 2025, Saudi Arabia attracted 2,400 millionaires, adding approximately USD 18.4 billion to its burgeoning economy. The Kingdom’s Vision 2030 reforms have promoted economic diversification, innovation, and a reduced reliance on oil.
Riyadh and the Red Sea coast have become key hubs for incoming wealth and returning nationals. These strategic regions continue to drive the influx of HNWIs.
6. Singapore
Singapore saw 1,600 millionaires relocating to the city-state in 2025, adding approximately USD 8.9 billion in private capital. The small nation reinforced its reputation as a financial and legal stronghold in all of Asia.
Residency‑by‑Investment pathways and a high standard of living attract wealthy individuals. Singapore Changi Airport (SIN) serves as the primary gateway for arrivals from China, India, and the ASEAN region.
7. Portugal
Portugal welcomed 1,400 new millionaires in 2025, adding nearly US$8.1 billion to its economy. Much of this influx has been driven by the success of its Golden Residence Permit program, which has become a powerful draw for HNWIs.
Wealthy newcomers are finding charm and opportunity along Portugal’s sun-drenched coastline, from Lisbon (LIS) to the Algarve. Portugal’s unusual resident tax system and relaxed lifestyle make it a prime European destination for wealth transfers.
8. Greece
Greece implemented a real‑estate‑based Golden Visa and a flat‑tax option on foreign income, attracting 1,200 millionaires in 2025 and boosting private capital by around USD 7.7 billion.
Luxury developments in Athens (ATH) and across the Aegean islands captivate high‑net‑worth migrants, strengthening Greece’s status as a refined investment hub.
9. Canada
In 2025, Canada welcomed 1,000 new millionaires, injecting USD 5.7 billion into its economy through private wealth and investment. The country’s safety, stability, and high living standards make it a top choice for global high-net-worth individuals.
Affluent newcomers consistently choose cities like Toronto (YYZ) and Vancouver (YVR), drawn by Canada’s strong public healthcare system, transparent legal framework, and well‑established immigration programs designed to attract global talent and capital.
10. Australia
Australia also added 1,000 millionaires to its population and approximately USD 5.6 billion to its economy in 2025. The country continues to attract high‑net‑worth individuals through a combination of skilled and investor visa pathways, political stability, and a high standard of living.
Wealthy migrants continue to favour Sydney (SYD) and Melbourne (MEL) for their stable property markets, strong legal systems, and quality education and healthcare.
Millionaires Flock to Low-Tax, Golden Visa Nations
Nine of the top ten countries for millionaires in 2025 have launched golden visa or residency investment programs. These structured pathways allow HNWIs to secure legal residency by investing in real estate, businesses or government projects.
Many millionaires prefer locations with predictable, low, or flat tax environments. The UAE, Italy and Switzerland lead the way in this area, while Portugal and Greece offer tax breaks on foreign income.
Quality of life plays a major role in migration decisions. Strong infrastructure, healthcare, education and safety continue to attract wealthy individuals to Canada, Singapore and Australia.
Governments in traditional wealth hubs are stimulating outflows by changing tax policies. The UK’s non-domicile removal and rising capital gains taxes in Europe are pushing millionaires towards stable, growth-focused destinations such as Saudi Arabia and the UAE.
