Where the World's Wealthy Are Moving in 2026 - And What It Means for Your Relocation Plans

The annual Henley Private Wealth Migration Report has become essential reading for anyone contemplating an international move, and the 2026 edition paints a fascinating picture of how global wealth is reshaping itself across borders. For high-net-worth individuals and families considering relocation, understanding these trends isn't merely academic – it's strategically vital.

The Rise of the "Sovereign Portfolio"

Perhaps the most striking insight from this year's report is the emergence of what Henley terms the "sovereign portfolio" approach. 

Wealthy families are no longer putting all their eggs in one jurisdictional basket. Instead, they're deliberately diversifying their residence rights, citizenship options, and investment holdings across multiple countries.

This isn't paranoia… it's prudent planning in an age of geopolitical uncertainty, rapid policy changes, and economic fragmentation. 

The families taking this approach aren't abandoning their primary homes; they're creating optionality and resilience through strategic positioning.

The UAE Continues to Dominate

The United Arab Emirates remains one of the world's most compelling destinations for internationally mobile wealth. Over the past decade, the UAE has built an unrivalled combination of business-friendliness, international connectivity, investor confidence, and long-term institutional stability.

Dubai and Abu Dhabi continue to attract entrepreneurs, investors, and families from across the globe. The Golden Visa programme has been particularly successful, offering 10-year renewable residency to investors, entrepreneurs, specialised talents, and outstanding students. This security of tenure - rare in the region - provides the foundation for genuine long-term planning.

What makes the UAE especially attractive is its comprehensive value proposition. Zero personal income tax is obviously compelling, but it's the broader ecosystem that seals the deal: world-class infrastructure, excellent schools and healthcare, remarkable safety, and a genuinely cosmopolitan environment where doing business across time zones is not just possible but convenient.

The Mediterranean Renaissance

While the UAE leads, the Mediterranean region is experiencing what can only be described as a renaissance in wealth migration. Italy has emerged as a particularly sophisticated destination, especially for those departing the UK following the non-dom reforms. The Italian regime for new residents offers a flat charge on foreign income over 15 years, no foreign wealth tax, and, critically, firm grandfathering provisions. When the lump sum rose to €300,000 on 1 January 2026, demand remained resilient, particularly among ultra-high-net-worth families who value predictability above all else.

Greece, Portugal, and Switzerland continue to attract significant interest, though each for different reasons. Greece offers relative affordability and improving infrastructure. Portugal's combination of climate, culture, and connectivity remains appealing despite changes to its Golden Visa programme. Switzerland offers unmatched stability and discretion, though at a premium.

The Jurisdictions Under Pressure

Not every country is winning this competition for global talent and capital:

• The United Kingdom has experienced significant outflows following the abolition of the non-dom regime in April 2025, combined with changes to inheritance tax, property taxes, and capital gains tax. The closure of the Tier 1 Investor Visa added to the sense that Britain was becoming less welcoming to international wealth.
• France came within a single vote in late 2025 of adopting citizenship-based taxation measures, sending a clear signal about the direction of travel. 
• Spain has ended its Golden Visa programme while retaining its wealth tax. 
• Germany continues to debate wealth taxation and faces significant inheritance and exit-tax exposure.
• Norway provides perhaps the starkest example of policy consequences. Its wealth tax has generated visible relocation activity, with several prominent business families publicly departing for Switzerland or other destinations.

What This Means for Your Planning

For those considering a move to the UAE or elsewhere, several lessons emerge from the 2026 data:

Timing matters

Policy windows open and close. The Italian regime remains attractive today, but nothing prevents future governments from modifying terms for new applicants. The UAE's current framework is stable, but early movers have benefited from establishing track records and relationships.

Structure matters more than location alone

Where you live is only one piece of the puzzle. How your assets are structured, where your businesses operate, and how your succession planning is organised all require careful attention. A move done badly can create more problems than it solves.

Professional guidance is essential

The crossroads of residence, tax, succession, and immigration law across multiple jurisdictions is genuinely complex. 

The families achieving the best outcomes are those working with advisors who understand both the technical requirements and the practical realities.

Your personal circumstances are unique

Aggregate data about wealth migration can inform strategy, but cannot replace individual analysis. What works brilliantly for a tech entrepreneur may be entirely wrong for a family office managing inherited wealth.

Looking Ahead

The fundamental dynamics driving wealth migration - policy uncertainty in traditional centres, attractive alternatives in the Gulf and Mediterranean, technology enabling location flexibility, and families prioritising resilience - show no signs of reversing. If anything, the competition for globally mobile talent and capital will intensify.

Countries that offer stability, predictability, and genuine quality of life will continue to attract families willing to vote with their feet.

For anyone contemplating a move, the message from the 2026 data is clear: the window for strategic relocation remains open, but it requires careful planning, professional guidance, and a willingness to move decisively when the time is right.

If you're considering relocation to the UAE or another jurisdiction and would like to discuss how your personal circumstances fit within these broader trends, our team at Mosaic Chambers would be delighted to help you explore your options.