Record 1.65 lakh millionaires expected to migrate in 2026

Record 1.65 Lakh Millionaires to Migrate Globally in 2026; UAE and Singapore Top Destinations, India Scores 56.5 in Wealth Hub Rankings

According to the Henley Private Wealth Migration Report 2026, a record 1.65 lakh millionaires are expected to migrate from their home countries this year. This marks a significant increase from the 1.42 lakh millionaires who relocated in 2025 and the 1.34 lakh in 2024. In comparison, only 51,000 millionaires migrated globally in 2013.

The report highlights that wealthy families are no longer moving abroad solely for tax benefits. Factors such as stability, security, and better investment opportunities are now driving their decisions. The United Arab Emirates (UAE) has emerged as the most preferred "wealth hub," with a top score of 85.3 in the rankings. In contrast, India’s wealth hub score stands at 56.5, reflecting challenges such as regulatory complexities and tax-related hurdles.

The United States, despite its wealth mobility score of 62.3, leads in the number of affluent individuals seeking citizenship elsewhere. In 2025, the number of such applications from the U.S. doubled, and the trend is expected to continue in 2026. Interestingly, only 7% of these applications came from Americans already living abroad, while the majority were from wealthy residents within the country. Half of these applications were directed toward Europe, and over a quarter toward Latin America and the Caribbean.

The United Kingdom has also seen a sharp rise in migration among its wealthy citizens. Applications for foreign citizenship from the UK increased by 15% in 2024-25, with British nationals accounting for 53% of such applications in 2026. This is a stark contrast to 2018, when only 8% of applications originated from British citizens. The UK, which ranked 20th as a source market for wealth migration in 2018, is now among the top five.

In India, acquiring a second residency or citizenship has become an integral part of estate planning and tax structuring for wealthy families. Motivations include better education opportunities, business expansion, and succession planning. However, India’s relatively low wealth mobility score of 56.5 underscores structural challenges, such as restrictive capital controls and complex tax regulations.

The UAE continues to attract wealthy individuals, particularly expatriate entrepreneurs, who are leveraging the country as a strategic platform while exploring other options. Meanwhile, in Europe, countries like Greece are benefiting from stricter policies in Spain and Portugal. With Spain discontinuing its Golden Visa program and Portugal closing its real estate investment route, Greece has emerged as a preferred destination for investment-based citizenship.