A total of 88,000 millionaires are expected to move to a new country by the end of 2022, according to the latest Henley Global Citizens Report which tracks private wealth migration and investment trends worldwide.
Property and business investors are gearing towards ten countries, according to the report, with the UAE leading the way this year in attracting the largest net inflows worldwide.
Greece is the eighth most popular place that high net worth individuals (HNWIs) choose to invest at least $1 million in cash, or assets, that they can convert into cash.
Australia is in the second place, close behind the United Arab Emirates (UAE).
Greece’s Golden Visa Program is among the top 5 most popular investor programs along with Portugal’s Golden Residence Permit Program ranked first, followed by St Kitts and Nevis Citizenship by Investment Program, Canada’s Start-Up Visa Program, and Antigua and Barbuda Citizenship by Investment Program.
The report notes that countries that attract wealthy individuals and families tend to be strong, with low crime rates, competitive tax rates and attractive business opportunities.
According to the report, the top 10 countries in terms of net inflows of investors in 2022 are UAE, Australia, Singapore, Israel, Switzerland, USA, Portugal, Greece, Canada and New Zealand. Large numbers of millionaires are also expected to move to Malta, Mauritius and Monaco.
The list has had a massive reshuffle in the past three years as the UK, is experiencing a steady loss of millionaires due to competition and long-lasting effects of Brexit, with a net outflow of 1,500 predicted for 2022.
The US has also become less popular among millionaire immigrants due to the higher taxes post-Covid, according to Henley & Partners.
Russia, India, South America and India, and Ukraine entered the Top 20 worldwide list.
