Millionaire Migration: What makes Dubai a Wealth Magnet
A global shift is taking place in wealth migration. As previous favourite destinations such as the United Kingdom, China, Spain, and France lose high-net-worth individuals (HNWIs), emerging countries including the UAE are becoming magnets for the wealthy. New data shows that 9,800 millionaires will move to the UAE in 2025 alone – with Dubai the number one landing spot for financial opportunity and ultra-premium living.
According to the Henley Private Wealth Migration Report, a record 142,000 millionaires will relocate to new countries in 2025. These individuals are not tourists, they are business owners, investors on a global scale, and mobile families looking to lower taxes, increase returns, and live in stable environments.
| Rank | Country | HNWI Outflow | Reasons For Leaving | Where Are They Going |
| 1 | United Kingdom | -16,500 | Non-dom tax changes, post-Brexit doubts, closed Tier-1 investor visa | UAE, USA, Italy, Switzerland |
| 2 | China | -7,800 | Government controls, high domestic taxes, family education abroad | USA, Canada, Australia |
| 3 | India | -4,300 | Global property planning, political risks, family education abroad | USA, UAE, Australia |
| 4 | South Korea | -1,200 | Rising tax, family education abroad, seeking higher quality of life | USA, Canada, Australia |
| 5 | Russia | N/A | Sanctions, capital controls, regional instability, geopolitical risk | Switzerland, UAE, Turkey |
| 6 | Brazil | N/A | Rising crime and safety concerns, politics, volatile currency | USA, Portugal, Canada |
| 7 | France | -800 | Wealth tax rumours, pension protests, sluggish growth | Switzerland, UAE, Italy |
| 8 | Spain | -500 | Rising income taxes, high youth unemployment, regulation | Portugal, UAE, Switzerland |
| 9 | Germany | -400 | Wealth tax rumours, over-regulation, high energy prices | USA, Switzerland, UAE, Turkey |
| 10 | South Africa | N/A | High rates of crime, increased power outages, inflation, volatile currency | UK, Australia, Canada, Turkey |
1. High Taxation in Traditional Economies: Millionaires who live in EU countries including France, Denmark, and Austria are seeing increased personal income tax rates reaching historical highs – some over 55%. The UAE is globally known imposing a personal income tax rate of 0%.
2. Overregulation and Surveillance: Transparency rules including KYC, CRS, FATCA, and beneficial ownership registries make HNWIs feel as though they are living in a “Big Brother”-type jurisdiction where the government is watching every move. It is increasingly difficult to quietly increase wealth in countries throughout the EU and the UK.
3. Political Instability and Lifestyle Fatigue: Wealthy individuals living in the EU question the long-term future and security of the West. TV channels are reporting regular strikes in Paris, energy crises in Germany, immigration tensions in the UK, and rising crime. Dubai offers modern infrastructure, incredibly low rates of crime, and endless sunshine hours.
At the top of countries and cities with HNWI inflows is the UAE, and Dubai specifically. Once a playground for the wealthy to splurge, Dubai is now a strategic hub for managing long-term wealth, investing in real estate, raising families, and connecting globally.
New data from Henley & Partners cements Dubai as the fastest-growing destination for global wealth. Whether its millionaires leaving London, Beijing, or Paris, they are all heading in the same direction – Dubai.
- 9,800 millionaires are predicted to move to the UAE in 2025. This is estimated to bring $63 billion USD in wealth.
- The UAE beats second-placed destination for HNWIs, the United States, by a staggering 2,000 people.
- Popularity for HNWIs is Gulf-wide. Saudi Arabia is expected to gain 2,400 millionaires but Dubai remains the prime hub.
In essence, residents who live in Dubai keep more, earn more, and can invest confidently compared to those living in the UK or Europe. On a global scene, the monetary architecture of the UAE is unmatched.
- Zero personal income tax, zero capital gains, zero wealth tax: A hugely important draw for attracting millionaires and investors.
- Golden Visa Residency: A 10-year Golden Visa is available to investors who purchase real estate valued at AED 2 million or more.
- Ease of business setup: 100% foreign ownership across most sectors has been available since 2021.
- Escrow protection and security: Government-controlled escrow systems are available to protect off-plan real estate buyers.
The property market in Dubai continues to outperform global peers – attracting investment into a diversified range of projects and backed by rapid population growth, high rental demand, and friendly legislation for buyers.
Record Transacted Value
- Q1 2025 saw a recorded AED 114 billion in sales, a 50% increase compared to Q1 2023.
- The average sale price increased to AED 1,535 per square foot, which is up by 16%.
- Convincing off‑plan and ready properties performance suggests long-term capital growth.
Attractive Rental Yields
- In 2025, the average gross yield from investment properties stood at 6.3%.
- In Q1 2025, average yield for apartments was 6.8% to 7.3% and villas 5.0% to 5.3%.
- Even after a slight dip (~30 bp), yields in Dubai remain healthy for investors.
Supply Outlook
- 81,000 new homes are scheduled to be built in 2025 and 300,000 are due by 2028.
- Developers are emphasising mid-market apartments in JVD and Business Bay.
- Villas in Dubai with four or more bedrooms have seen a 13% price growth since 2024.
Dubai offers world-class infrastructure and global accessibility, strategically designed to meet the growing demands of its international community and investors. Long-term masterplans ensure that the city is future-ready.
- International Travel Hub: DXB welcomed 92 million passengers in 2024 as the busiest airport in the world.
- Direct flights: Dubai has two major airports and currently operates flights to 300+ international destinations.
- Urban development: Expo City, Dubai South, Dubai Creek Harbour align Dubai’s 2040 Master Plan.
- Government projection: UAE government predicts 4% GDP growth in 2025 and 5% in 2026, with 2% inflation.
A financial powerhouse and internationally aligned business ecosystem, Dubai has built an infrastructure to serve multinational corporations, start-ups, family offices, and self-employed individuals seeking a launchpad for growth.
- DIFC is home to 3,600 companies, 120 family offices, and manages a staggering $1.2 trillion USD in assets.
- From 2024 to 2025, family offices have increased by 33%, foundations by 51%, and hedge funds by 50%.
- Office occupancy rates in Dubai now reach 96% with rental growth increasing from 13% to 15% year-over-year.
- Several Free Zones including DMCC, DWC, and RAKICC supplement financial flexibility for business owners.
| Feature | Dubai | UK / France / Germany | Turkey – Wildcard Option |
| Income tax | 0% | 45% to 55% | Up to 40% |
| Citizenship route | Golden Visa | None | Yes – $400K Citizenship |
| Rental yield | 6% to % | 2% to 4% | ~7.4% |
| Capital growth | ~16% YoY | Low / moderate | ~17% YoY in Istanbul |
| Wealth tax | No | Yes | No |
| Connectivity | DXB hub | EU travel | Europe / Asia flights |
| Lifestyle | Cosmopolitan, international | Traditional | Mediterranean and Turkish culture |
Combining financial efficiency with an unmatched luxury lifestyle, Dubai is not just a tax haven, it’s a destination for security, stability, world-class infrastructure, opportunities, 5-star amenities, and a future-ready environment.
- Tax-friendly environment: Allows for wealth preservation and growth.
- Residential returns: Remain above the average seen around the globe.
- Golden Visa and global mobility: Families can find what they need long-term.
- Urban quality: Appeals to modern professionals and families living in Dubai.
- Diversified investment: Luxury, commercial, mid-market, and new communities.
One thing is clear in 2025: The global centre of wealth is moving. Favourites such as London, Berlin, and Paris are seeing record outflows of capital and wealthy individuals. With financial incentives, market diversity, and unparalleled lifestyle quality, Dubai is rolling out the golden carpet for HNWIs and is winning the war for global talent – a transformative upgrade for global millionaires.
At Place Overseas, we specialise in helping our clients unlock the potential of Dubai. From luxury villas to investment apartments in districts including Business Bay, Downtown, and Palm. Contact us to start your journey towards a tax-free and world-class lifestyle in Dubai. Our local advisors are happy to explore exclusive opportunities and answer all of your questions about moving to the UAE.
Millionaires are attracted to Dubai for its combination of zero income tax, luxury lifestyle, and high rental yields. Investors can obtain a Golden Visa by purchasing real estate.
Unlike previous favourites such as New York, London, and Paris, Dubai simplifies processes and regulations – appealing to HNWIs seeking long-term wealth perseveration and quality of life.
Yes. If you purchase qualifying property worth AED 2 million or more, you can obtain a 10-year residency visa. The visa is renewable and has no requirement to live in Dubai full-time.
Average gross rental yields are ranging 6.3% to 7.3% for apartments and 5.0% to 5.3% for villas in strategic locations. Compared to 2% to 4% yields seen in Europe and the UK.
International schools, hospitals, Michelin dining, cultural festivals, year-round warm weather, 70+ shopping malls, world-class sports events, and global connectivity via DXB.
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