A new millionaire settles in the UAE every hour: Report

Dubai: The UAE is rapidly cementing its position as a global magnet for high-net-worth individuals, with a staggering 9,800 millionaires expected to relocate to the country this year, an average of nearly one every hour.

According to the newly released Henley Private Wealth Migration Report 2025, the UAE is poised to welcome more millionaires than any other country for the third consecutive year.

That influx translates to 817 new millionaires per month, or 27 per day, reinforcing Dubai and Abu Dhabi’s reputations as international safe havens for capital and prosperity.

An estimated $63 billion in private wealth is projected to shift into the UAE over the course of 2025, driven by the nation’s tax-friendly policies, long-term residency options, investor-friendly regulations, and world-class infrastructure.

Among the largest sources of this exodus: the United Kingdom, where sweeping changes to the country’s tax and residency laws have triggered what some analysts are calling a “Millionaire Brexit.”

British billionaires and investors, including Norwegian shipping magnate John Fredriksen, have already made the move, citing the UK’s increasingly burdensome tax environment. Fredriksen, who recently sold his mansion in London, bluntly described post-reform Britain as having become “hell,” according to The Daily Mail.

Britain’s new taxation regime, particularly the abolition of the Non-Domiciled (Non-Dom) status, inheritance and capital gains tax hikes, and general regulatory uncertainty has prompted a record outflow of 16,500 millionaires in 2025 alone. This makes the UK the world's biggest net loser of millionaires this year, the report says.

Meanwhile, Dubai is increasingly seen as the antidote. With no personal income tax, capital gains tax, or inheritance tax, the city offers a combination of financial freedom and global connectivity.

Long-term Golden Visas, ease of doing business, and access to international schools, luxury healthcare, and a cosmopolitan lifestyle have further fueled the appeal.

The UAE’s appeal spans continents, drawing millionaires from India, Nigeria, South Africa, Russia, and the UK.

According to the Henley report, the migration is not limited to individuals; family offices, hedge funds, and startups are also relocating, with Dubai now viewed as an emerging epicenter for global finance and innovation.

Several multinationals have recently announced plans to relocate their regional or global headquarters to the UAE. Among them is BlueCrest Capital, whose founder Michael Platt cited “unlimited opportunity” as the reason for moving the hedge fund’s operations from London to Dubai.

Wealth managers warn that the UK’s current trajectory could cost it over £30 billion in capital flight over the next two years.