UAE Set To Attract Record Wealth As Millionaires Flock To The Country

(MENAFN- The Arabian Post)

A major economic migration is shaping the global landscape, with the UAE emerging as a primary destination for millionaires seeking new opportunities. In 2025, projections indicate that over 140,000 affluent individuals will relocate across borders, and the UAE is set to capture a substantial portion of this wealth migration. Among the largest share of the 142,000 millionaires relocating worldwide, the UAE is expected to see 9,800 of them, carrying with them around $63bn in investable wealth.

The phenomenon, dubbed the“Great Wealth Flight,” is being tracked by Henley & Partners, a global leader in residency and citizenship advisory services. The figures, released in the firm's most recent wealth report, underscore a fundamental shift in both migration patterns and economic power.

Dr Juerg Steffen, CEO of Henley & Partners, highlighted the scale of the shift, calling it the“largest voluntary transfer of private capital in modern history.” This new wave of migration, he explains, is not just about talent but about the significant flow of private wealth following them. Countries, particularly those in the Gulf region, are now competing for this capital influx as they strive to secure their position as key global financial hubs.

The UAE's rise to the forefront of this migration shift is being fuelled by several key factors, including political stability, business-friendly policies, and its growing status as an international hub for finance and technology. The nation has worked diligently over the past few years to attract high-net-worth individuals, offering a range of incentives such as long-term visas, tax advantages, and high-quality infrastructure.

A cornerstone of this strategy has been the UAE's efforts to become a global leader in financial services, technology, and innovation. Its rapidly expanding tech sector, coupled with high-level developments in fintech and digital assets, has made the country a magnet for entrepreneurs and investors from around the world. These factors, combined with the country's appeal as a strategic base for accessing markets in Asia, Europe, and Africa, have made it a prime destination for wealthy individuals looking for a favourable tax environment and access to lucrative business opportunities.

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Particularly influential in driving this migration is the UAE's status as a tax haven. The country has a zero percent income tax rate, a significant factor for those looking to preserve and grow their wealth in an environment of high global taxation. The introduction of long-term residency options, including the Golden Visa, which grants a 10-year residency permit for high-net-worth individuals, has further solidified the UAE's position as a top destination for millionaires.

The UAE's geopolitical positioning offers significant advantages. As a leading player in the Gulf Cooperation Council, the country has a unique strategic location that appeals to those seeking both political stability and access to the broader Middle Eastern and North African markets. The UAE's neutrality and diplomatic flexibility have further enhanced its allure as a safe and stable place to do business and raise families, away from the volatility seen in other parts of the world.

But the wealth migration is not limited to individuals seeking to escape political or economic instability. For many, the move to the UAE is driven by the opportunity to diversify and expand their portfolios. The UAE's booming property market, for instance, offers exceptional investment opportunities, particularly in cities like Dubai and Abu Dhabi. These cities are not just attractive to the ultra-wealthy looking for a place to live, but also to investors looking for high returns in a thriving real estate sector.

The movement of wealth into the UAE is also seen as a challenge to other major global financial centres, such as London and New York, which have long been favoured by millionaires. With the UAE now offering increasingly attractive conditions, many wealthy individuals are reassessing their choices. The competition for this capital is growing, and countries with established wealth management systems, low taxes, and favourable living conditions are poised to benefit the most.

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Economic diversification in the UAE is also playing a crucial role in attracting this influx of wealth. For years, the nation has been reducing its dependency on oil by investing heavily in non-oil sectors, particularly finance, tourism, real estate, and technology. This diversification has created a more resilient economy, making the UAE more appealing to investors seeking a stable and dynamic environment.

Despite challenges posed by the global economic landscape, the UAE has remained resilient, offering significant incentives for business and wealth creation. The government's push to position the nation as a world-class business hub has made it a prime location for global millionaires, and the trend shows no signs of slowing down. As a result, the UAE is becoming an increasingly important centre of wealth, attracting not just capital, but the talent and expertise needed to nurture it.

The consequences of this shift are far-reaching. As more millionaires establish their roots in the UAE, their influence will likely extend beyond just economic contributions. These individuals, bringing with them substantial expertise in various fields, will play a pivotal role in shaping the future of the UAE's economy. Additionally, their investments could drive the nation further into the spotlight as a key player in global finance and technology.

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