Overview
- Henley & Partners estimates about 115,000 millionaires in Milan—roughly one for every 12 residents—placing the city 11th globally by total count.
- The city counts 182 centi-millionaires and is flagged with a 'high growth' outlook for new ultra-wealthy arrivals, nearly matching Monaco’s tally.
- Roughly 3,600 wealthy individuals moved to Italy in 2025, with the vast majority settling in Milan, averaging about 10 transfers per day.
- Italy’s 2026 budget raised the neo-resident substitute levy on foreign income to €300,000 a year, with €50,000 for each family member, effective January 1.
- Exemptions from IVIE and IVAFE and low inheritance taxes are cited as magnets, while luxury-property prices climb and 60,000 people are reported on public-housing waiting lists.