Wondering where the world’s richest millionaires and billionaires choose to live? We reveal the countries that attract the most affluent migrants and expats.
When you’ve got money, the world is your oyster. One of the first things many people do when they become wealthy is consider emigrating to another country. It is a fresh start, a brand-new adventure, and often a thrilling idea.
There are lots of countries in the world where the standard of living, the benefits afforded to citizens, or simply the natural beauty of the area far exceed where you are right now.
So, where are the most popular parts of the world for people to move to? If you were going to go anywhere, where would you want to go?
A recent report, from Henley & Partners, takes a look at the top places in the world where the wealthiest migrants go. They examined a lot of the different criteria and ultimately created a list. The list details the number of billionaire and millionaire expats who have entered the country in 2022. By ranking them in order, a picture begins to emerge.
All of these places offer good investment and business opportunities, in part due to the number of wealthy people and organisations that have roots there, so it’s a wise idea for anybody looking to invest, but at the same time, there’s also plenty to enjoy for each country.
Not only does each country offer something different in terms of culture, but there are also business benefits unique to every place on the list. This means that if you’re investing, you’ll want to do so by putting money into the local community and using the benefits of owning businesses in those countries to your advantage.
So, we thought it might be fun to stop and look at the top ten countries to move to if you’re wealthy. The countries below are ranked by those which have the highest projected net inflows of high net worth individuals in 2022.
These are all great places to visit and even better places to move to. However, even normal, everyday people would be wise to consider moving to some of these places – they rank pretty well and if you’ve got a skills migration visa, you’ll be in luck.
1. United Arab Emirates (gained 4,000 wealthy migrants)
The first place on the list that we’re going to look at is the United Arab Emirates. Loads of people move to the UAE, and it’s not difficult to see why.
The UAE is a key location in the Arabian Gulf. As a location, it offers modern communication systems, infrastructure, and transportation. As a business hub, the country is highly rated, offering an excellent place in which people can conduct business on a regular basis. Thanks to easy global access, it’s not difficult to invest in a successful business.
The second-largest emirate in the UAE is Dubai. This is considered to be the most important city internationally, as well as the financial and commercial centre of the UAE.
Most people are aware of Dubai by reputation. The area frequently attracts the wealthiest and most influential people in the world, making it not only a good opportunity to meet people in a similar situation but also to explore some of the diverse business opportunities available in the city. Dubai has often been called the playground of the rich so, if you have the cash, you will definitely get to live a life of luxury.
See more reasons to move to Dubai and the UAE here.
2. Australia (gained 3,500 wealthy migrants)
The second highest-ranked country on the list is Australia. Australia is one of the most expensive places in the world to live, but it’s also one of the wealthiest countries in the world. Lots of people move to the Gold Coast, as we’ve mentioned before.
Australia has developed an excellent reputation for being a good place to live. It’s a well-developed, multicultural area. It has a very high human development index ranking, and people who live in Australia get access to a high quality of life, plenty of economic freedoms, and, arguably most importantly, their political rights and civil liberties are well protected.
From a business perspective, Australia offers a well-maintained corporate and financial market, a well-educated workforce (relative to other countries), and access to Asian markets and their time zones. Investments by wealthy individuals are common and often lucrative.
See more reasons to move to Australia here.
3. Singapore (gained 2,800 wealthy migrants)
Singapore is often voted the best city in Asia to live in. It has great public services, strong infrastructure and the lowest crime rates in the world. It is also one of the wealthiest countries when you measure GDP per capita.
Regarding business benefits, Singapore has a thriving economy, good tax rates, and a robust business market. It wouldn’t be difficult to make a proper investment in the area and generate a suitable return quite quickly.
Singapore doesn’t get as much publicity as some of the other places on the list, and it may not be as well known, but it’s highly popular amongst millionaires and wealthy people. If you want to live a peaceful life, away from problems like crime, then this is a good choice.
4. Israel (gained 2,500 wealthy migrants)
Israel is a nice country with a good quality of life and is also one of the most technologically advanced places in the world. They specialise in developing a lot of high-end technology that gets seen all across the world, and when you couple that with a thriving workforce and planning and investment opportunities, it’s not difficult to see why people choose to move there and invest in local infrastructure.
Israel is an interesting country because it is geographically diverse, the weather is often hot and sunny, and there are plenty of good investment opportunities. It’s the sort of place where you live and feel like you are permanently on holiday.
5. Switzerland (gained 2,200 wealthy migrants)
Switzerland is a great place to live as it offers a high quality of life and is one of the nicest countries in the world. It hosts the headquarters of many international companies and has a multicultural, plurilingual society. It is also considered to have both a politically and economically stable environment.
Obviously, Switzerland is known for the banking sector, but it’s also politically neutral – an attitude that governs most of its global activities. Therefore, investors can make investments without needing to worry about the political or social consequences.
6. The USA (gained 1,500 wealthy migrants)
It’s not difficult to see why the USA is one of the most desirable places to move to and make investments. America is one of the most profitable places on Earth from a business standpoint.
Life in America can be exceptionally diverse. It’s very easy for people to pick a state that provides for their needs, and telecommuting is very common. America is also a cultural hub, with dozens of religions, ethnic groups, lifestyles and subcultures being present within its states.
Obviously, the USA has a well-developed market and some of the biggest corporations on the planet. Making an investment is a lot like being a kid in a sweet shop because you just have plenty of choices.
See more reasons to move to the United States here.
7. Portugal (gained 1,300 wealthy migrants)
Portugal is considered to be a great place to live. It’s one of the most peaceful nations in the world, offering a high human development index ranking and a good quality of life. It’s got a pretty solid reputation as well, which has been carefully built up over the years.
As a nation in Europe, Portugal is one of the oldest. Not only is it a beautiful place, with stunning countryside views and beautiful beaches, but there’s also delicious food, great culture, and a very rich history that dates back centuries. There’s a lot to appreciate here for someone looking to move.
If you are an investor, there are well-trained employees, tax incentives and direct access to the European Union and all the businesses that work as part of that. There are plenty of great investment opportunities here.
See more reasons to move to Portugal here.
8. Greece (gained 1,200 wealthy migrants)
Once upon a time, Greece was synonymous with finance. The economy in Greece collapsed, and it took them quite a while to claw their way back, but they have managed to do so in a pretty spectacular fashion.
Greece has a lot of great educational opportunities for families, a good healthcare system, reliable and clearly defined laws, and plenty of security. It’s a very safe place to live and a good country to move to.
Greece is one of the most entrepreneurial countries in the world, which means there are plenty of self-made millionaires out there. They also have a strong infrastructure in the communication and logistics industries, so it’s not difficult to make an investment in a local business.
9. Canada (gained 1,000 wealthy migrants)
Located just next door to the USA, Canada is often voted as one of the most desirable places to live in the world. The quality of life is high, the crime rate is low, and the overall infrastructure is well defined.
Canada is also a very tidy, clean country. There are some absolute gems tucked away in the country. Glistening lakes and miles of forests that haven’t been touched by human hands in a long time make the place incredibly pretty to live in.
From a business standpoint, Canada has a very stable economy. The workforce is often well-trained, and there are quite a few tax incentives. Many businesses, especially big multi-million pound corporations have expanded into Canada.
See more reasons to move to Canada here.
10. New Zealand (gained 800 wealthy migrants)
New Zealand is the last place on our list, but that doesn’t make it any less than a brilliant place to move to. It has become famous as a bolt-hole for billionaires including PayPal’s Peter Thiel, Google’s Larry Page and Titanic director, James Cameron to name just a few. See How New Zealand became an apocalypse escape destination for Americans!
Located just an hour or two away from Australia, New Zealand is not only stunningly beautiful but also a prosperous, safe place to live. Culturally speaking, the country was chosen as the filming location for the Lord of the Rings trilogy and also demonstrated particular foresight and efficiency in handling the COVID-19 pandemic, having one of the lowest infection rates in the world by quite a margin.
From a business standpoint, New Zealand is good for companies to set up shop in because the economic climate is favourable, the legal requirements for businesses are quite straightforward, and the tax corporations pay is relatively forgiving. This means that anybody making an investment in New Zealand will probably see a fair return within a few years.
See more reasons to move to New Zealand here.
Will you choose to move overseas with the rich and famous?
Each of the countries on this list offers something different to a wealthy person looking to emigrate. Each country focuses on a different area of business. There are some places where technology is the driving force, but then there are others where communication and logistics are very important parts of the infrastructure. This means that you can generally pick the best country for your investment needs.
These are all countries that regularly see wealthy people emigrate to them because outside of the investment opportunities; they offer a high standard of living. Quality of life is obviously an important factor for anybody looking to move, and emigrating to another country makes the overall standard of living even more important.
Thankfully, these are all countries which have a well-built and stable economy, along with plenty of business opportunities. Places like the UAE or the USA are particular examples of places where corporations like to gather because they’re very modern, relevant places. Furthermore, places like these also have well-developed education, cultural, and social opportunities. It can’t just be about the business opportunities when you pick a new country to emigrate to.
Dubai, in particular, has always been a haven for the rich, offering modern technology and plenty of luxuries, so it’s not difficult to see why it’s at the top of the list. However, the rest of the locations on the list, like Portugal, Canada, Australia, and Switzerland, are all important in different ways. It’s really up to each person to decide what they are looking for in a new country.
Obviously, any of these locations would be happy to have you. Somebody who is very wealthy and moving to another country with the intent of investing in the local economy will always be welcomed with open arms, so do some research, take a look at what each country offers specifically, decide what is important for you and your family, and then start moving.
PSS International Removals will be able to help you move abroad – no matter what your budget
The great news for the rest of us who are not in the top 1% is that all these countries have skilled migration programmes and expat job opportunities so you don’t have to be among the super-rich to move there!
PSS International Removals help thousands of people move overseas each year. These include high-net-worth individuals such as Hollywood actors, international sports stars and musicians. However, most of our customers are regular families and expats looking to start a new life overseas.
But no matter who you might be, everyone has their own personal Move Manager and we take the same great care to ensure your belongings all arrive safely. So whether you need a few 40-foot containers to fit the contents of your mansion or just a few boxes from your student dormitory, PSS International Removals are here to help.