The migration of the world’s wealthiest families is surging, marking what experts deem the most significant wave of private wealth relocation ever recorded. Driven by geopolitical tensions and abrupt policy shifts, the demand for cross-border relocation, residency planning, and citizenship consulting services is at an all-time high, advisors to ultra-high-net-worth clients report. A recent UBS survey revealed that 36% of its 87 billionaire clients had relocated at least once in 2025, while an additional 9% are contemplating similar moves. Among billionaires aged 54 and younger, that figure rose to 44% last year.
“We are truly experiencing the largest private wealth migration in history,” UBS informed CNBC. Data from Henley & Partners underscores the scale of this migration, revealing inquiries from 218 nationalities in 2025 and applications from 100 nationalities across 95 countries, representing over 40 residency and citizenship programs. Notably, application volumes increased by 28% year on year.
Historically, affluent families have gravitated toward politically stable jurisdictions that offer personal safety and favorable tax environments. However, advisors now assert that jurisdictional risk is increasingly viewed as a financial risk requiring diversification. “Families understand that policy regimes can shift quickly, regulatory frameworks may tighten, and geopolitical tensions can escalate without warning,” said Deepesh Agarwal, co-founder of Farro & Co., an international mobility solutions provider. Wealthy individuals are reassessing their residency choices and citizenship options with the same rigor they apply to diversifying their investments, ensuring they don’t rely solely on any single country’s stability.
Two primary factors currently define this migration trend. The first is geopolitics, which now plays a pivotal role in residency decisions. Policy changes that once took decades to materialize can now emerge within a single political cycle. Geopolitical dynamics and policy fluctuations have shifted from background concerns to central considerations for wealthy families, as evidenced by the recent abolition of the UK’s non-domicile tax regime. This change led to an estimated net loss of around 16,500 millionaires in the country in 2025, with their wealth totaling $92 billion, compared to a loss of 9,500 in 2024.
The second factor influencing wealthy migration is a shift in motivations. Previous relocation trends were often spurred by optimism, seeking growth and opportunity, whereas current movements are increasingly defensive. “Protection has joined growth as a primary driver,” noted Agarwal. The prevailing sentiment reflects a deepening erosion of confidence in political and financial systems. Jeremy Savory, founder of Savory Partners, emphasized a fundamental shift in perceptions of freedom and personal sovereignty, with rapid policy changes and political instability increasingly driving relocation decisions. According to a Greenback survey, the percentage of U.S. citizens considering renouncing their citizenship jumped to 49% in 2025 from 30% the previous year, with many citing dissatisfaction with the government’s direction.
While this migration is global in nature, wealth and talent are clustering in a limited number of jurisdictions known for policy certainty and robust legal frameworks. The United Arab Emirates has emerged as a primary destination, benefiting from zero personal income tax and a flexible Golden Visa program that facilitates long-term residency in exchange for qualifying investments. Henley & Partners estimates that the UAE welcomed 9,800 millionaires last year, the highest in the world. Additionally, Europe maintains appeal through golden visa options in Portugal and Greece, while Italy, Monaco, and Switzerland attract families seeking stability. Singapore remains attractive for its financial infrastructure, though higher entry requirements present challenges.
Emerging destinations like Saudi Arabia and Caribbean nations are also gaining momentum. Saudi Arabia’s Premium Residency Program has issued over 8,000 permits since its expansion in 2024, and Caribbean citizenship programs are being leveraged as strategic components of European residency plans. The trend underscores that private wealth migration is no longer just a niche phenomenon; it is reshaping global dynamics for the affluent.
Original Source: https://www.cnbc.com/2026/02/11/the-worlds-rich-are-relocating-at-a-pace-unseen-in-history-where-are-they-going.html
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Publish Date: 2026-02-11 11:45:00
