UAE Leads the Great Wealth Migration as 35% of HNWIs Eye Relocation

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UAE leads wealth migration as HNWIs seek tax-efficient relocation advisory.

deVere Group reports that 35% of its high-net-worth clients are actively considering relocating to a lower-tax jurisdiction.
The UAE topped the Henley Private Wealth Migration Report 2024, attracting more millionaires than any other country that year.
Close to 9,800 millionaires are projected to relocate to Dubai and Abu Dhabi by end of 2025, marking a third consecutive record year.
The UAE offers zero personal income tax, no capital gains tax, and no federal inheritance tax for qualifying individual residents.
The UAE Golden Visa was simplified in 2024, removing the minimum down-payment requirement for real estate investors seeking the AED 2 million threshold.
Advisers warn that a Golden Visa alone does not establish tax residency - physical presence, documentation, and professional planning remain essential.

Federal Tax Authority Framework and DIFC Structures Shape UAE's Wealth Appeal

The UAE's rise as the world's leading wealth migration destination is underpinned by a clear and well-established legal framework. Cabinet Decision No. 85 of 2022 defines the country's individual tax residency rules, setting out the criteria for determining when a person qualifies as a UAE tax resident. The Federal Tax Authority (FTA) - the government body responsible for UAE tax administration - has issued detailed guidance alongside this legislation, giving advisers and relocating families a reliable foundation for long-term planning.

For those who qualify, the FTA issues a Tax Residency Certificate (TRC), an internationally recognised document used for treaty relief, banking, and cross-border compliance. Families relocating through the Dubai International Financial Centre (DIFC) or Abu Dhabi Global Market (ADGM) - the UAE's two common-law financial free zones - can also access sophisticated trust, foundation, and family office structures. These options are drawing a growing share of ultra-high-net-worth (UHNW) families seeking to base both capital and long-term wealth strategy in the UAE.

A Third of Wealthy Clients Are Actively Considering a Move

deVere Group, one of the world's largest independent financial advisory firms, reports that 35% of its roughly 80,000 affluent clients are actively considering relocating to a lower-tax country. Clients from the UK, parts of Europe, Australia, and certain Asian and African jurisdictions are seeking advice on moving themselves, their families, and business operations. The key drivers are rising taxes, inflation, geopolitical instability, and shifting domestic fiscal policy across higher-tax markets, according to the firm.

Advisory demand has also shifted in character. Rather than simply choosing a new country and buying property, clients now want guidance on restructuring tax residency, reviewing domicile status, and implementing cross-border estate and succession planning. deVere's tax consultancy division notes that tax residency is fundamental to most tax systems and is decisive in determining which elements of a person's income are liable to tax.

Why the UAE Tops the Destination List

The UAE consistently tops global rankings for net inflows of millionaires and high-net-worth (HNW) families. According to the Henley Private Wealth Migration Report 2024, the UAE was expected to welcome over 6,700 millionaires that year - more than any other country in the world. More recent projections cited by regional media indicate that close to 9,800 millionaires could relocate to Dubai and Abu Dhabi by the end of 2025, marking a third consecutive year of record inflows.

The fiscal environment is central to this appeal. For qualifying individuals, the UAE offers zero personal income tax, no tax on most capital gains, and no federal wealth or inheritance tax. This contrasts sharply with many Western markets, where high earners face progressive income tax bands, surcharges on investment income, and tightening rules on non-domiciled or expatriate residents.

Beyond tax, Henley and Partners describes the UAE as a strategic haven for HNW families, citing political stability, world-class infrastructure, and investor-friendly frameworks. Wealth migration specialists also highlight international schools, private healthcare, and secure residential communities in Dubai and Abu Dhabi as important factors in persuading families to relocate their primary home - not just their capital.

The Golden Visa Route to Long-Term Residency

The UAE Golden Visa - a renewable 10-year residency permit available to qualifying investors, entrepreneurs, and skilled professionals - is the primary mechanism through which wealthy families establish long-term residency. In 2024, the UAE simplified access for real estate investors by removing the previous minimum down-payment requirement. Now only the total property value counts towards the AED 2 million threshold, and investors can combine multiple properties to qualify.

Golden Visa holders who meet the substantive residency criteria can obtain a TRC from the Federal Tax Authority. However, advisory firms warn that the Golden Visa alone does not automatically establish tax residency in the eyes of foreign tax authorities. Physical presence, the "centre of vital interests" test, and thorough documentation are all necessary to support a claim that is robust under scrutiny.

How UAE Tax Residency Is Determined

Under Cabinet Decision No. 85 of 2022, an individual qualifies as a UAE tax resident by meeting at least one of three conditions. These are: spending a sufficient number of days in the country during a tax year; having a permanent home there; or demonstrating that the UAE is the primary centre of their financial and personal interests. For those spending between roughly 90 and 182 days in the UAE, advisers stress that employment contracts, trade licences, and evidence of financial ties become critical documents for supporting residency claims.

The UAE has signed more than 140 double tax treaties (DTAs) - bilateral agreements between countries that allocate taxing rights over various income types. DTAs can override domestic rules and are often decisive in complex relocation cases. This is particularly important for individuals leaving countries that apply exit taxes or continue to tax residents on worldwide income after departure, where missteps can create dual residency conflicts and disputes with revenue authorities.

Profile of Incoming Wealth and Key Advisory Questions

The nature of incoming wealth is evolving. Real estate professionals in Dubai report that a typical relocating family now tends to fall in the USD 3 million to USD 15 million net-worth bracket, with growing participation from those worth between USD 20 million and USD 50 million. More entrepreneurs, fund principals, and second-generation business families are now arriving, alongside fewer purely salaried expatriates.

Advisory firms report that client questions have become considerably more complex. Common queries include how to safely sever tax residency in the previous jurisdiction while establishing a defensible UAE residency; how DTAs allocate taxing rights over dividends, interest, capital gains, and pensions; and whether existing trusts, foundations, or holding companies should be restructured to align with a DIFC or ADGM family office framework. Cross-border estate and succession planning - ensuring UAE-based and offshore assets pass efficiently to heirs without tax leakage - has become a central concern for UHNW clients.

Professional Planning Is Essential - A Golden Visa Is Not Enough

Wealth advisers active in the Gulf explain that the UAE now functions as a "Plan A" for many relocating families - not a fallback option. Clients are moving operational headquarters, family offices, and controlling shareholdings to the UAE, while maintaining operating assets or portfolio companies across other jurisdictions as part of a deliberate risk-management strategy.

deVere and other international advisory firms stress that holistic planning is essential before and during any relocation. This covers tax residency analysis, domicile rules, corporate structuring, and compliance with key international reporting frameworks. These include the Common Reporting Standard (CRS) - which requires the automatic exchange of financial account data between participating countries - and FATCA, the US Foreign Account Tax Compliance Act. Professional planning is positioned as non-negotiable to ensure that residency is properly established, documented, and defensible if challenged by a foreign tax authority.