Where millionaires are moving: UAE, Singapore beat European destinations

As the global map of wealth migration shifts, millionaires are increasingly looking beyond traditional European destinations toward jurisdictions offering stronger tax advantages, stability, business opportunities, and long-term security.

According to the Henley Private Wealth Migration Report 2026, the United Arab Emirates (UAE) and Singapore have emerged as two of the world's most attractive destinations for internationally mobile wealth. Both nations are outperforming many established European hubs.

London-based global citizenship and residence advisory firm Henley & Partners argues that the traditional idea of permanently moving from one country to another is changing.

Wealthy individuals are increasingly creating a network of jurisdictions. One country might serve as a primary residence base, another provides citizenship benefits, and others support business operations, investments, or extended family needs.

Henley & Partners' new Global Wealth Mobility Framework evaluates these destinations based on several key factors, including tax treatment, the rule of law, quality of life, investor access, family inclusion, geopolitical stability, and capital mobility.

This shift means governments are competing not only for wealthy residents but also for the entrepreneurs, investors, and businesses that drive economic growth. As global uncertainty continues to reshape investment decisions, flexibility, stability, and global access matter just as much as traditional measures of prosperity.

The UAE stands as a global wealth magnet

The UAE remains the biggest winner in the global competition for millionaire residents. The country achieved a Wealth Mobility Competitiveness Score of 85.3 out of 100, ranking as the strongest performer in the report's assessment framework.

The Gulf nation's appeal is driven by a combination of factors including tax competitiveness, investor-friendly policies, high safety standards, global connectivity, and long-term residency options.

Dubai has become a major hub for entrepreneurs, investors, and wealthy families seeking a strategic base between Europe, Asia, and Africa.

Rather than seeing an outflow of wealthy residents, the UAE is experiencing a period of diversification. Many residents are seeking alternative residency or citizenship options while continuing to use the Emirates as their primary business and lifestyle base.

The report noted a 41% increase in inquiries from UAE-based individuals between the fourth quarter of 2025 and the first quarter of 2026. Applications for alternative residence or citizenship increased by 29% during that same period.

Singapore rises as Asia's wealth hub

Singapore is also strengthening its position as a preferred destination for global wealth. It received a Wealth Mobility Competitiveness Score of 79.5 out of 100, ranking second worldwide.

The Southeast Asian city-state's growth is underpinned by political stability, strong institutions, deep capital markets, and sustained demand from internationally mobile wealth across Asia.

People are seen at a shopping mall inside Singapore's Marina Bay Sands in May 2023. Photo by VnExpress/Minh Nga

For entrepreneurs and investors, Singapore offers access to one of the world's most developed business environments. At the same time, it serves as an ideal gateway to fast-growing Asian economies.

Following Singapore is New Zealand, which scored 75.8. The country is drawing renewed investor interest following the relaunch of its Active Investor Plus Visa Program.

This renewed interest is supported by a stable legal and regulatory environment, geopolitical stability, and New Zealand's position as a secure destination far removed from geopolitical flashpoints. This strongly reinforces its appeal for long-term family planning.

While several European countries remain attractive to wealthy migrants, the report suggests some traditional destinations are facing increasing pressure. Governments in these nations are adjusting tax policies and regulatory frameworks.

Countries such as the United Kingdom, Germany, France, and Norway are experiencing greater competition as wealthy individuals reassess where they want to live, invest, and establish family bases.

Despite this pressure, several European nations still scored well. Cyprus topped the European rankings with a score of 73.5, placing it fourth globally. It is followed closely by the Netherlands at 72.8, Portugal at 72.5, and Italy at 72.3. Switzerland scored 70.8, Greece reached 70.5, and Monaco rounded out the top ten with a flat score of 70.

Trailing the top ten globally are Germany with 69.7, Norway with 69.0, the U.K. with 68.3, and France with 65.7, alongside the U.S.