Tuesday, 02 January 2024 12:17 GMT

Great Wealth Migration Ramps Up As 35% Of Hnws Consider Relocation


Date:

(MENAFN- Investor Ideas) (Investorideas Newswire) a go-to platform for big investing ideas, including AI and tech stocks issues market commentary from deVere Group.

An estimated 35% of high-net-worth individuals are actively considering relocating to another lower-tax country, reveal new findings.

deVere Group, one of the world's largest independent financial advisory organizations, reports that more than a third of its 80,000-strong base of primarily wealthy clients, particularly from the UK, parts of Europe, Australia, and some Asian and African jurisdictions, are seeking advice on where to move themselves, families, and/or business operations to secure a lower tax burden.

The data confirms what is becoming increasingly evident across global advisory networks: the acceleration of the Great Wealth Migration.

Internal advisory trends show a marked increase in enquiries relating to tax residency restructuring, domicile review, second residency rights and cross-border corporate realignment.

Three dominant forces are driving this shift.

First, jurisdictional risk is now a core wealth variable

Second, relocation is increasingly defensive

Third, capital is clustering around policy predictability

The United Arab Emirates continues to attract attention due to its zero personal income tax and long-term residency frameworks. Select European hubs and Asian financial centres offering regulatory stability are also drawing increased interest from internationally active families.

Entrepreneurs are evaluating corporate headquarters moves, alternative holding structures and operational re-domiciliation strategies to optimise after-tax returns and strengthen strategic positioning.

Nigel Green notes:“Wealth moves toward stability. When investors perceive policy volatility, they seek jurisdictions where rules are transparent, predictable, and favourable”

The scale of movement is notable. Global trends indicate rising millionaire outflows from higher-tax jurisdictions alongside record inflows into policy-stable destinations. deVere's client data reflects the same directional pattern.

Importantly, relocation decisions are complex. Double taxation treaties, substance requirements, reporting obligations and long-term residency qualification rules must be carefully assessed. Structured professional advice is essential to ensure compliance and effective execution.

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