According to a 2026 study by Henley & Partners, Cyprus ranked fourth in the world and emerged as one of the most attractive destinations in Europe for wealthy investors. In the report Millionaires on the Move: Winners, Losers, and the Global Competition for Wealth in 2026, the island received a score of 73.5 out of 100. Its appeal is attributed to a combination of favorable tax conditions, relocation opportunities, a developed business environment and a high quality of life.
Among Cyprus’s advantages are relatively straightforward business registration procedures, legal protection of property rights, its climate and its geographic location between Europe, the Middle East and Africa. Another important factor is the country’s membership in the European Union, which integrates Cyprus into the European legal and economic framework. For entrepreneurs and wealthy families, tax conditions are only part of the equation. The ability to run an international business, plan long-term residence and access education and healthcare services is also important.
Which countries compete with Cyprus for capital?
The top 10 included Singapore with a competitiveness score of 79.5, New Zealand with 75.8 and the Cayman Islands with 74.3, followed by Cyprus. The Netherlands ranked next with 72.8, followed by Portugal at 72.5, Italy at 72.3, Bermuda at 72.0, Hungary at 71.8 and Latvia at 71.7.
Experts noted that competition among countries for wealthy residents is intensifying. Governments are seeking to attract not only investment, but also entrepreneurs, owners of international companies and professionals capable of creating jobs and supporting economic activity.
Why 2025 and 2026 figures should be compared carefully
In 2025, Cyprus ranked 17th in a Henley & Partners ranking based on estimates of millionaire migration. According to data published at the time, 250 wealthy individuals moved to the island, bringing assets worth a combined $2.6 billion. However, the methodology changed in 2026. Instead of focusing primarily on estimated inflows and outflows of millionaires, the company introduced the Global Wealth Mobility Framework — a system designed to measure the structural attractiveness of different jurisdictions for internationally mobile capital.
The model evaluates 12 areas, including taxation, the rule of law, quality of life, investor programs, conditions for obtaining permanent residence and citizenship, options for relocating family members, geopolitical stability and freedom of capital movement. In total, 38 weighted indicators are used.
For this reason, Cyprus’s fourth-place ranking in 2026 does not mean that the number of millionaires moving to the island jumped from 17th place to fourth under a directly comparable methodology. The new indicator measures the conditions for attracting and retaining capital rather than the actual number of relocations.
The source of the study is also important when interpreting the results. Henley & Partners specializes in investment migration, residence and citizenship advisory services. At the same time, the company states that its model uses data from international organizations, including the World Bank, International Monetary Fund and OECD, as well as its own client inquiry statistics.
How international wealth migration affects Cyprus
Interest in Cyprus among wealthy foreigners is part of a broader redistribution of private capital between countries. Decisions to relocate are influenced by tax reforms, geopolitical conditions, legal certainty, access to international markets and quality of life. In its previous 2025 report, Henley & Partners forecast a significant inflow of millionaires into Italy and an outflow of wealthy residents from the United Kingdom. Those figures reflected forecasts for that period rather than final migration results for 2026.
For Cyprus, an inflow of wealthy residents could mean additional investment in real estate, business development, job creation and higher tax revenues. At the same time, stronger demand from affluent buyers can increase competition in certain segments of the property market, meaning that the impact of such capital on the economy is not limited to positive effects.
Overall, Cyprus’s position in the 2026 study highlights its growing role in the global competition for mobile capital. However, the ranking should be viewed as an assessment of the country’s attractiveness to investors rather than direct evidence of an increase in the number of millionaires, the volume of investment or the overall prosperity of the island’s population.