Inside the Global Wealth Exodus of 2025
A historic reordering of global wealth is quietly underway. A record 142,000 millionaires are projected to move countries by the end of 2025. This is the largest annual migration of high-net-worth individuals ever recorded.
Projections suggest millionaire migration will accelerate further in 2026, reaching 165,000.
What’s unfolding now is the largest voluntary transfer of private capital in modern history, as it flows towards nations that offer security, opportunity, and clarity, while moving away from jurisdictions that lack support for long-term wealth preservation.
The UK: From Magnet to Caution
Once a top destination for global wealth, the United Kingdom is now facing the largest net outflow of millionaires ever recorded for any country. An estimated 16,500 HNWIs are set to leave the UK by the end of this year, taking with them over £66 billion (USD 87.6 billion) in investable assets.
The closure of the Tier 1 Investor Visa in 2022 removed a crucial pathway for affluent foreign nationals. That was followed by major reforms to the non-domicile regime and proposed changes to inheritance tax, prompting a wave of departures among both foreign and UK-born millionaires. For many, London is no longer the default home for capital. Instead, their next chapter is unfolding in the UAE, the US, Switzerland, and Italy.
Reports from Henley & Partners show a 183% year-on-year increase in applications from UK nationals for alternative residence and citizenship solutions in Q1 2025 alone. This trend is reshaping the financial makeup of one of the world’s historic wealth capitals.
Africa’s Hidden Crisis
In Africa, the numbers may seem smaller in absolute terms, but their impact is deep. Nigeria is projected to lose 200 millionaires this year, alongside an estimated $1.5 billion in capital. For economies still building their domestic capital bases, such outflows carry significant developmental implications.
The causes include regulatory uncertainty, increasingly restrictive capital controls, and supposed endemic corruption, which are prompting both entrepreneurs and their wealth to move beyond national borders. Across the continent, over $587 billion is lost annually to capital flight. Countries like Nigeria are watching not only capital, but talent and innovation drain away.
By contrast, smaller nations such as Seychelles and Morocco are showing what’s possible. Transparent governance, investor-friendly tax regimes, and lifestyle improvements are positioning them as regional wealth magnets.
India: Slowing But Still Significant
India’s outward migration of millionaires has slowed, but the numbers remain substantial. Some 3,500 HNWIs are expected to leave in 2025, taking with them $26.2 billion in wealth. Behind this shift lies a combination of push and pull factors, including increasing tax scrutiny at home, expanding digital compliance measures, and attractive residency offerings abroad.
India’s rapid economic formalization, powered by systems like UPI and GST, is expanding the tax base. But for many ultra-wealthy individuals, it has also reduced financial opacity. Meanwhile, taxation of virtual assets and complex succession planning requirements have added further friction.
Even so, India’s millionaire population is growing overall. The challenge now is retention: ensuring that wealth generated domestically continues to be invested, safeguarded, and spent within national borders.
Latin America: A Quiet Exodus Gathers Pace
In Latin America, security concerns and policy instability are driving a steady flight of wealth. Brazil is leading the region’s exodus, with around 1,200 millionaires projected to depart in 2025. Colombia, Mexico, and Argentina will lose another 1,600 combined.
Entrepreneurs leaving these countries are potentially taking their companies, capital reserves, and philanthropic energy with them. Miami and Madrid have become the preferred relocation hubs, thanks to cultural proximity, business-friendly ecosystems, and robust property markets.
Spain, in particular, has emerged as a favourite. Its fast-track citizenship for Latin Americans and favourable residency regime are proving decisive. According to real estate data, Mexicans alone have invested over €700 million in Spanish property since 2020.
The UAE’s Rise as a Global Wealth Capital
At the heart of this global rebalancing stands the United Arab Emirates. With a projected net inflow of 9,800 millionaires this year, the highest globally, the UAE has evolved from a regional safe haven to a global wealth hub.
The attraction is structural: zero personal income tax, no capital gains or inheritance tax, and a stable regulatory environment. But what sets the UAE apart is its proactive approach to residency. The UAE Golden Visa residency programme offers long-term options for investors, entrepreneurs, and skilled professionals, backed by world-class infrastructure and ease of doing business.
According to a Henley & Partners report, the UAE is now the second most sought-after address for investment migration applications after the United States.
The Bigger Picture
From China’s cautious capital controls to America’s tax complexity, from India’s formalization drive to Nigeria’s capital flight, the global contest for wealth is intensifying. In such a scenario, a long-term residence visa in the UAE through the routes of investment or business incorporation is a strategic instrument of wealth planning.
What matters now is foresight. Individuals who structure their lives and capital across multiple jurisdictions, often using what is called a “three-jurisdiction strategy,” may be better placed to withstand political shocks, fiscal volatility, and regulatory overreach.
The great wealth exodus of 2025 is the beginning of a new global order. Our experts at Xiffin can ensure your transition to a UAE Golden Visa residency is smooth, compliant, and strategic for long-term growth. Partner with us to explore boundless opportunities.
