The lifestyle of the rich and the famous: Maybe you want one, but where’s the best place to get it?
Well, we know where not to go.
Henley & Partners — a global firm that specializes in residency and citizenship through investing — crunched the numbers and found the countries that are projected to have the highest outflow of millionaires in 2025.
The wealthy are currently loving the United Arab Emirates. Philippe Amarante, managing partner for Middle East at Henley & Partners, says that the UAE’s political stability and location help make it an ideal destination, along with “economic resilience, favorable tax policies, and world-class infrastructure.”
Other areas don’t offer the same level of promise, it seems.
In 2024, the country that experienced the biggest exodus was China — by a long shot. In 2025, it’s the United Kingdom.
Trevor Williams, chair and co-founder of foreign exchange risk management firm FXGuard, says there are a few potential reasons behind this, such as tax burdens, Brexit and “a shrinking capital market.”
Henley & Partners notes that the UK’s tax reforms and “sharp hikes in capital gains and inheritance taxes” are driving wealthy individuals to tax-friendly locations, in what “some are calling a ‘Wexit’ (wealth exit).”
So, which other countries are losing their wealthy residents and what is the estimated wealth of those migrating millionaires? Here’s what Henley & Partners reports.
Countries losing the most millionaires
- United Kingdom: Projected net loss of 16,500 millionaires in 2025 (with $91.8 billion)
- China: -7,800 millionaires (-$55.9 billion)
- India: -3,500 millionaires (-$26.2 billion)
- South Korea: -2,400 millionaires (-$15.2 billion)
- Russian Federation: -1,500 millionaires (-$14.7 billion)
- Brazil: -1,200 millionaires (-$8.4 billion)
- France: -800 millionaires (-$4.4 billion)
- Spain: -500 millionaires (-$3.1 billion)
- Germany: -400 millionaires (-$2.2 billion)
- Israel: -350 millionaires (-$2.5 billion)
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