Global wealth is moving and the UAE is capturing more of it than anyone

Never before have so many millionaires and high earners left their home countries as last year, and 2026 is expected to break that record again. One country has attracted the largest share of them for years. This article sets out the current figures, the reasons behind the exodus and the question that must not be lost amid the enthusiasm: when does a move actually count as a move for tax purposes?

The exodus of the high earners.

Every year the advisory firm Henley & Partners tracks how many individuals with liquid wealth of at least one million US dollars move their residence to another country. For 2025 the report records roughly 142,000 such moves, more than ever before, and for 2026 it expects around 165,000. The trend is not an outlier but a development that has been accelerating for years.

The reasons will surprise nobody who talks to entrepreneurs: too much bureaucracy, a shortage of skilled staff, growing concerns about safety, a tax burden perceived as disproportionate, and fear of political tension. Millionaires and high earners are simply looking for ways to secure their wealth and to escape a tax system they experience as hostile. What stands out is that the outflow no longer comes only from emerging markets. The United Kingdom, with an expected net loss of 16,500 millionaires in 2025, was the country with the largest outflow, and the numbers in continental Europe are rising as well.

Dubai: the clear favourite.

For several consecutive years wealthy emigrants have had one unmistakable favourite: the United Arab Emirates, and above all Dubai. For 2025 Henley & Partners expected a net inflow of around 9,800 millionaires to the Emirates, more than to any other country in the world, and the UAE also heads the forecast for 2026.

The reasons are obvious. In Dubai and the Emirates there is no income tax, no capital gains tax, no inheritance tax and no wealth tax. Corporate tax for entrepreneurs stands at 9%, with a threshold of AED 375,000 and Small Business Relief for companies with revenue up to AED 3 million, and is therefore manageable. Add to that an infrastructure that has no equal in Europe, a location between Europe and Asia, a visa system that makes it easy for investors, entrepreneurs and professionals to settle, and a level of safety that regularly tops the international rankings. Our article on taxes in Dubai in 2026 gives the complete overview of the tax system.

The safest cities in the world

In the safety index published by the comparison portal Numbeo, which is based on residents' own assessments, cities from the Emirates and the Gulf region have occupied the leading positions for years. The seven safest cities worldwide on that measure are Abu Dhabi, Ajman, Doha, Dubai, Taipei, Ras Al Khaimah and Muscat, four of which are in the Emirates.

Where everyone else goes.

Naturally, not every wealthy emigrant moves to Dubai. The report for 2025 shows a field of countries that are attractive for very different reasons.

All of these countries offer, alongside tax relief and a high quality of life, cultural richness and broad investment opportunities. In the end the choice of destination depends less on the tax table than on where you actually want to live with your family, because a move that takes place only on paper does not hold for tax purposes.

What must not be forgotten amid the enthusiasm.

The growing departure of millionaires and high earners points to a clear trend: wealthy people are searching worldwide for safe havens that offer not only tax advantages but also stability, security and quality of life. Dubai and the Emirates have established themselves as the leading destination through tax incentives, outstanding infrastructure and one of the safest environments in the world. Anyone taking that step should prepare it so that it still carries in ten years' time.

Frequently asked questions.