Troubled by politics and taxes, billionaires are leaving their country: Disillusioned with Britain-America, Italy, Portugal and Singapore became new destinations; 1.08 lakh in 2018, 1.42 lakh in 2025 rich people left their country

These days, there is a wave going on among the world’s richest families of leaving their country and settling in other countries. Experts are calling it the ‘largest private property migration’ in history. This migration, once in search of tax benefits, has now become ‘defensive’. The rich are now resorting to ‘golden visas’ and foreign citizenship to protect their wealth, protect generations and escape political instability. Swiss bank UBS’s survey of 87 billionaire clients found that 36% of billionaires have changed their residence at least once in 2025, while another 9% are considering it. Notably, 44% of young billionaires under the age of 54 have moved to another country in the last year. Investment migration firm ‘Henley & Partners’ has seen a massive 28% increase in applications year-on-year. According to Henley & Partners’ ‘Private Wealth Migration Report’, while about 1.08 lakh billionaires changed the country in 2018, this figure will increase to 1.34 lakh in 2024 and reach a record 1.42 lakh in 2025 and more migration is expected this year i.e. 2026. According to the report, tax efficiency is a major reason for the decision of the rich. Italy’s €2 lakh a year flat tax scheme for new residents caps taxes on foreign income for 15 years, making it attractive to the wealthy. Portugal has attracted wealthy immigrants by offering 20% ​​tax breaks and research/innovation incentives under the old ‘Golden Visa’ and new schemes. Singapore has also announced several similar concessions. The Henley Report says that in 2025, 3,600 new billionaires are settled in Italy, 1,400 in Portugal and 1,200 in Greece. Britain, on the other hand, continues to face net outflows, with high taxes and post-Brexit uncertainty forcing wealthy households to look for alternatives. Technology gave freedom to the rich to ‘live wherever they want’ Migration consultant Jeremy Savery says, ‘Technology has made the world an open field for the rich. Now you can have a company in Singapore, a family in Italy and property in Dubai. Henley’s report also believes that remote work, digital business and fintech tools have made it easier to leave the country. Dr. Jürg Stephan, CEO of Henley, says, ‘The exodus from old wealth capitals like Britain and America and the inclination of billionaires to settle in South Europe and Asia is the new reality.’



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