Cyprus continues to attract the attention of the global elite. In 2025, around 250 millionaires, with a combined fortune of $2.6 billion, could move to the island.
These figures are from the latest Henley Private Wealth Migration Report 2025, which was prepared by the international consulting firm Henley & Partners in collaboration with the analytical agency New World Wealth.
The report's authors emphasize that Cyprus and Greece are experiencing particularly high rates of private capital inflows, largely due to favorable tax policies, mild climates, high quality of life, and attractive investment migration programs. Over the past ten years, the number of millionaires living in Cyprus has grown by 33%.
Meanwhile, 1,200 millionaires with a combined capital of €7.7 billion may move to Greece. The number of wealthy people in Greece has increased by 24% over the past decade. Other attractive destinations in Southern Europe include Italy and Portugal, which offer flexible tax regimes, simplified procedures for obtaining residence permits, and well-developed infrastructure for living and doing business. The number of millionaires in these countries is expected to grow by 3,600 and 1,400, respectively, by 2025. Switzerland is expected to maintain its status as a "safe haven," welcoming around 3,000 millionaires. Monaco will add around 200 wealthy individuals. Among all countries, the UAE is expected to lead in capital inflows, welcoming nearly 9,800 millionaires, surpassing the US (+7,500) and Saudi Arabia (+2,400).
2025 could be a record year for wealthy individuals moving abroad. According to experts' forecasts, more than 142,000 European millionaires will change their country of residence. This unprecedented number signals profound changes in perceptions of security, tax burdens, and life prospects in Europe.
The UK will be one of the main sources of wealth outflow, with up to 16,500 millionaires potentially leaving. This is the highest figure among all countries since records began. Significant outflows of wealthy citizens are also predicted in France (–800), Spain (–500), Germany (–400), Ireland (–100), Norway (–150), and Sweden (–50). These numbers suggest that even traditionally stable economies are facing challenges that are forcing the wealthy to seek alternatives.
In Asia, however, the report shows a mixed picture.
Singapore and Japan are strengthening their positions as centers of capital attraction (+800 and +600, respectively), while South Korea expects one of the largest outflows of wealthy citizens (-2,400)—more than double last year's figure. A decline in the number of millionaires is expected in Vietnam, Pakistan, Taiwan, Israel, Lebanon, and Iran. In Latin America, Brazil and Colombia will be among the countries losing out, with an expected decline of 1,200 and 150 wealthy citizens, respectively.
Montenegro (+124%), Malta (+87%), and Latvia (+70%) are among the countries with the largest increase in wealthy citizens over the past decade. This demonstrates that small, flexible jurisdictions can successfully compete for capital.
Henley & Partners CEO Dr. Juerg Steffen called 2025 a "turning point" in global capital migration. He noted that the record outflow of millionaires from Europe signals growing concerns about the region's economic and political stability.
New World Wealth analyst Andrew Aymouls emphasized that the growth of new wealth centers is not a coincidence but rather a natural result of favorable investment environments that attract expats. According to Parag Khanna, founder of AlphaGeography, Asia continues to be the epicenter of economic growth, combining ambition, innovation, and strategic flexibility.