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Great Wealth Migration Elevates Montenegro and UAE as UK Sees Record Millionaire Departures

Record taxation in traditional centers is prompting wealthy individuals to relocate overseas for greater fiscal security.

Montenegro has witnessed a 124% increase in the number of millionaires in the last 10 years.
The ultra-rich are fleeing once hotspots of wealth like London and Paris in favor of Montenegro, the world’s fastest-growing millionaire hub.
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Overview

  • Approximately 142,000 millionaires are expected to relocate in 2025, and that figure is projected to climb to about 165,000 in 2026, according to the Henley Private Wealth Migration Report 2025.
  • Montenegro’s millionaire population has surged 124 percent over the past decade, making it the world’s fastest-growing hub for high-net-worth individuals.
  • The United Arab Emirates is set to net roughly 9,800 millionaires this year, the highest inflow of any country, supported by its Golden Visa program and business-friendly policies.
  • The United Kingdom is leading Europe in outflows with an estimated 16,500 millionaires departing in 2025, representing about $91.8 billion and driven by Brexit fallout and non-domicile tax rule changes.
  • Policymakers and wealth managers are weighing measures such as exit levies to address the fiscal impact of this accelerating global shift in domicile.