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More and more Top performers & millionaires emigrate
Never before have more millionaires and high achievers emigrated from their home countries than last year. One country is particularly favoured by the wealthy.
The flight of the top performers
Never before have more millionaires and high achievers emigrated from their home countries than last year. One country is particularly favoured by the wealthy.
The reasons for emigration are obvious: too much bureaucracy, a shortage of skilled labour, a lack of security, high taxes and the fear of political tensions and conflicts. Millionaires and high achievers are simply looking for ways to secure their assets and escape the tax madness.
Dubai: The clear favourite
For the third time in a row, wealthy expats have a clear favourite for their new home: the United Arab Emirates, mainly Dubai. By the end of 2024, the UAE expects 6,700 new millionaires.
There is no income tax, capital gains tax or inheritance tax in Dubai and the UAE. The corporation tax for entrepreneurs with 9%, high tax allowances and various optimisation options is also manageable.
Top 7 safest cities in the world
Where are the rest drawn to?
Of course, not all wealthy expats are drawn to Dubai. The USA, Singapore & Canada are high on the list with over 3,000 new millionaires each in 2023. With 1,500 new millionaires, Switzerland is also the favoured home of choice for many wealthy emigrants.
In addition to tax relief and a high quality of life for expatriates, all of these countries also offer cultural wealth and diverse investment opportunities.
Conclusion
The increasing migration of millionaires and top performers illustrates a clear trend. Wealthy people around the world are looking for safe havens that offer stability, security and a high quality of life in addition to tax benefits. Dubai and the UAE in particular have emerged as leading destinations thanks to tax incentives, excellent infrastructure and one of the safest environments in the world.
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