Why millionaire families are choosing the UAE for long-term wealth planning

Dubai: The UAE is cementing its status as the world's leading destination for high-net-worth individuals (HNWI), with close to 9,800 millionaires expected to relocate to Dubai and Abu Dhabi by year-end, according to Henley & Partners reports. The influx marks a third consecutive year of record migration, underscoring how the Emirates has transitioned from a safe-haven destination into a primary base for global capital and family wealth.

Kalpesh Khakharia, Group Chairman of Klay Group, said 2025 would close with the UAE “as the strongest global destination for mobile wealth,” adding that millionaire relocations have climbed from about 4,500 in 2023 to an expected 9,800 this year. “The most noticeable shift since 2022 and 2023 is the rise in affluent families from the UK and Europe,” he said, citing tax changes and political uncertainty as key motivators. Movement from Africa has also accelerated as entrepreneurs look to expand operations from a more secure and globally connected base.

According to Daniel George, Head of Business for St. James’s Place in the Middle East, newly arrived families often begin with real estate before diversifying into global markets. “Real estate is often the first significant investment they make locally, usually to establish a long-term base,” he said.

However, he added that core portfolios remain globally diversified. “Clients who move jurisdictions typically want consistency and global reach in their investment strategy, not a complete shift in their risk profile,” he said.

Across St. James’s Place’s international offices, including Hong Kong and Singapore, George said there is a visible preference for “disciplined, well-governed portfolios with a long-term lens.”

Industry experts highlighted that the most mobile group tends to be mid-tier wealth holders still in the growth phase of their careers. George noted, “The individuals who tend to relocate most quickly are those still actively building businesses or planning their next venture. Many of them fall into the mid-segment bracket, so they naturally appear more mobile.”

Top-tier ultra-high-net-worth (UHNW) families, by contrast, approach relocation more gradually due to complex legal, family, and asset structures.

In the property market, affluent families are reshaping demand patterns across Dubai and Abu Dhabi. Rohit Bachani, Co-Founder of Merlin Real Estate, said that the typical relocating family now sits in the $3 million to $15 million net-worth bracket, with rising participation from those worth $20 to $50 million. “The quality of wealth has changed. More entrepreneurs, fund principals and second-generation business families, fewer purely salaried expats,” he said.

Bachani added that large inflows are lifting the entire market’s profile. “The story is not just that more wealthy people are coming. It’s that the centre of gravity has moved up the wealth curve, and they’re arriving earlier in their wealth journey, with more appetite to build here, not just retire here.”

Dubai’s ultra-prime districts continue to attract global billionaires, with Palm Jumeirah, Jumeirah Bay, Emirates Hills and Naia Island leading inquiries. “These clients are buying $30 to $150 million trophy homes with privacy, water views and branded services,” said Bachani.

For migrating founders and fund managers in the $5 to $30 million range, the focus is shifting to integrated villa communities such as Dubai Hills Estate, Arabian Ranches, and Emaar’s new projects like The Oasis. In Abu Dhabi, Saadiyat Island remains the standout choice for families seeking space and culture.

Bachani said recent buyers are far less speculative. “They’re end users. They are buying homes where their children will actually live and go to school, not flipping off-plan units.”

A growing number of relocating families also have links to the digital-asset sector. “Roughly 5 to 10% of our serious relocation leads now have a direct crypto or Web3 angle,” Bachani noted, up from barely 3% 18 months ago. The UAE’s regulatory clarity through frameworks like Dubai’s VARA and Abu Dhabi’s ADGM has proven a major draw.

These clients largely come from the UK, Europe, India, Singapore and parts of North America. “Many don’t want to be branded ‘crypto bros’ anymore,” he said. “They’re maturing into family office principals who happen to have made their money in digital assets, and the UAE’s mix of regulation, banking access and lifestyle speaks directly to that identity shift.”

Executives agree that relocation today extends beyond residency. “Most serious migrants are bringing some mix of family office and business activity with them,” Bachani said. Around two-thirds of his clients establish a family office within DIFC or ADGM or redomicile trading and holding entities.

Even among families initially relocating for lifestyle reasons, business activity follows naturally. “Once they experience the tax regime, time-zone advantage and connectivity, it’s very natural for them to start booking deals, hiring teams or raising regional capital out of Dubai or Abu Dhabi,” he said.

Both George and Khakharia expect inflows to remain robust. “The drivers bringing international families to the UAE are long-term like clarity on tax, lifestyle, connectivity and the ability to manage global wealth efficiently from one location,” said George.

Khakharia added that the Golden Visa has been pivotal in converting interest into long-term commitments. “It offers stability and clarity for families who want to build a base in the UAE,” he said. Demand remains strongest among Indian, Russian, African and Southeast Asian nationals, alongside a growing number of British and European families seeking tax-efficient second residencies.

With the UAE’s millionaire population now exceeding 130,500, and inflows set to approach 10,000 this year, the global mobility of wealth is tilting firmly toward Dubai and Abu Dhabi. The Emirates represent the new geography of global wealth.