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In Turbulent Times, the Wealthy Seek「 Safe Haven Countries」

The UAE's stable political and economic environment, favorable tax rates, and welcoming investment immigration policies attract millions of wealthy individuals to relocate. (Photo/From Pexels)
The UAE's stable political and economic environment, favorable tax rates, and welcoming investment immigration policies attract millions of wealthy individuals to relocate. (Photo/From Pexels)

Amid recent global political and economic turbulence, high-net-worth individuals with a heightened sense of risk have turned to immigration as a means of finding refuge. According to investment consultancy Henley & Partners, the “Eight Safe Haven Nations” preferred by millionaires include the UAE, Switzerland, Singapore, New Zealand, Australia, Malta, Mauritius, and Morocco.

Top Millionaire Outflow Countries

Henley & Partners has tracked the 2024 global trend of millionaire outflows, noting that China, India, the UK, Russia, and Brazil lead the list. Experts attribute this trend to economic slowdowns and rising geopolitical risks in China, tax policies and infrastructure challenges in India, and post-Brexit economic uncertainty coupled with high taxes in the UK.Millionaires with high-risk awareness respond swiftly to any signs of instability, rapidly relocating their funds and resources. (Photo/Henley & Partners)

Key Factors in Choosing Safe Havens

The “Eight Safe Haven Nations” share common characteristics highly valued by wealthy individuals:

  • Political Stability: These countries offer stable governance and strong social security. For example, Switzerland’s neutral status and robust legal framework make it a top choice for risk-averse millionaires.
  • Strong Financial Systems: Nations like Singapore, known for efficient financial regulation and stable monetary policies, ensure asset security for their residents.
  • Quality Living Environments: Many of these nations feature pristine natural surroundings, advanced infrastructure, and access to top-tier healthcare and education. New Zealand, for instance, is renowned for its stunning landscapes and favorable climate, drawing numerous affluent immigrants.
  • Tax Incentives: Low or no tax policies significantly attract millionaires. Morocco, for example, is a prominent tax haven with no personal income tax.

The eight safe haven countries have become important players in the global wealth sector. (Photo/Henley & Partners)

A Growing Trend

The rise of the “Eight Safe Haven Nations” underscores the demand for safety and stability among the global wealthy amidst uncertainty. As millionaire migration continues, these nations are poised to play pivotal roles in shaping the global wealth landscape.

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