Where millionaires are leaving from and heading to: forecasts for 2022

Forecasts for millionaire migration in 2022

The report prepared by Henley & Partners highlights the situation of global citizens and provides forecasts regarding the migration of dollar millionaires for 2022. The document presents detailed data on the net influx and outflow of wealthy individuals, measured by the difference between those who moved to a specific country and those who left it. Only individuals with a net worth exceeding one million dollars are considered, as well as those who have become residents of another country for a period of at least six months.

The outflow of millionaires from Russia

As a result of the analysis, Russia has found itself among the countries with the highest outflow of millionaires. Statistics indicate a significant emigration of wealthy citizens from Russia. It is projected that by the end of 2022, around15 thousand peoplewhat constitutes15%from the total number of affluent citizens. This figure exceeds the 2019 level by 9,500.

Expected outflow of millionaires in 2022

The expected migration rates of millionaires in 2022 are distributed as follows:

• Russia - 15,000
• China - 10,000
• India - 8,000
• Hong Kong - 3,000
• Ukraine - 2,800
• Brazil - 2,500
• United Kingdom - 1,500
• Mexico - 800
• Saudi Arabia - 600
• Indonesia - 600

The situation in Ukraine

The level of emigration is particularly high in Ukraine, where a record outflow is expected —2.8 thousand peoplewhat will make up42%from the total number of affluent citizens. This is 2,400 more than in 2019. Data for 2020 and 2021 are likely not available, as they were affected by international travel restrictions due to the COVID-19 pandemic.

Losses in traditional centers

The situation is such that traditional migration destinations are also losing their appeal. The United Kingdom, being a global financial center, continues to lose millionaires: a net outflow of millionaires is expected for 2022.1,500This process began to manifest itself five years ago after Brexit and the increase in tax pressure. Since 2017, the UK has lost about12 thousandwealthy citizens.

Decline in interest in the United States

Interest in other financial centers similar to the U.S. is also rapidly declining. Currently, the United States is a less attractive place for millionaires who are emigrating compared to the period before the pandemic, which may be related to anticipated tax increases. However, the actual influx of wealthy individuals into the U.S. exceeds their outflow. As of 2022, the net influx is1,500In 2019, this figure reached10.8 thousand.

Expert opinion

Jörg Steffen, Managing Director of Henley & Partners, emphasizes that migration processes among wealthy individuals have steadily increased over the past decade; however, there was a sharp decline in this trend in 2020 and 2021 due to the pandemic.“The forecast for 2022 highlights global instability. It is expected that around 88,000 millionaires will decide to relocate to other countries this year, which is 22,000 fewer than in 2019, when there were 110,000. Next year, the largest migration process is likely to occur, involving 125,000 people.”

Migration of affluent individuals in the context of global changes

In the context of global transformations caused by changes in the existing order, the consequences of the COVID-19 pandemic, and growing climate threats, there is a significant migration of wealthy individuals to various countries. In particular, the United Arab Emirates (UAE) stands out as one of the main destinations where millions are relocating.

Forecasts for 2022 indicate that this country is expected to see a record influx of...4000 new wealthy residentsthat on208%exceeds the figures of 2019, when approximately 1,300 people moved to the UAE. This event has become the highest achievement in the entire history of observations.

Changes in the UAE immigration policy

Over the past five years, the UAE authorities have been actively revising their immigration policy to attract both private investments and talented professionals. The results of these efforts are beginning to show in full force.

Projected influx of millionaires in 2022

Comparing with other countries, the following figures for the influx of millionaires are expected in 2022:

• Australia - 3500
• Singapore - 2800
• Israel - 2500
• Switzerland - 2200
• USA - 1500
• Portugal - 1300
• Greece - 1200
• Canada - 1000
• New Zealand - 800

Israel and Australia as centers of attraction

Israel is also showing high growth rates, with more expected to emerge this year.2500 new millionairesthat on79%more compared to 2019. Australia, in turn, consistently attracts wealthy migrants; over the past20 yearsMore than has moved to the country80 thousand dollar millionaires.

In 2022, the number of new immigrants is expected to be3500that makes Australia second only to the UAE in attracting wealthy individuals.

New Zealand and Singapore

New Zealand is also showing interest in attracting wealthy immigrants, with a projected net increase of800 peopleIn 2022, Singapore, as a leading financial center in Asia, is also on the rise and expects to see growth.2800 wealthy residents, which amounts to an increase of87%compared to 2019.

Trends in investment migration

A study conducted in the first quarter of 2022 by Henley & Partners shows that the number of inquiries about investment migration programs reached record levels, increasing by55%compared to the previous quarter.

The popularity of immigration programs through investment

Recent trends show that immigration programs based on investment are becoming increasingly popular among those looking to change their place of residence. Various countries offer attractive conditions for obtaining citizenship or residency permits, which stimulates interest from foreign investors.

United Arab Emirates

For example, in the United Arab Emirates, potential residents have the opportunity to obtain a resident visa in Dubai in just one month with a minimum investment of1,350,000 dollarsThis is a very interesting prospect for those who want to start a new life in this vibrant and developing region.

Portugal

In the west, Portugal also offers its scheme for those wishing to become residents. Here, you can obtain a residence permit by purchasing real estate, and the entire process will take just five months. The minimum investment amount is280,000 euros...which makes the country particularly attractive to investors.

United States of America

The superpowers represented by the United States are opening doors for entrepreneurs through visas.E-2This visa is issued for a long term, and the processing takes only about four months with the necessary investments starting from100,000 dollars.

Montenegro

In the Balkans, Montenegro attracts investors with the opportunity to obtain residency within two months by making a minimum real estate purchase starting from30,000 eurosThis option offers a quick way to legalize your residency in this picturesque country.

Greece and Spain

Greece is not staying on the sidelines and is also offering conditions to attract foreign investors: with an investment starting from250,000 eurosYou can obtain a residence permit in just two months. Spain is also keeping up, offering similar conditions with minimal investments starting from500,000 euros.

Turkey

Turkey is actively attracting citizens with an offer of citizenship within three months upon purchasing real estate starting from400,000 dollarsThis is especially appealing to those who dream of the status of a citizen of this sunny country.

Andorra and Bulgaria

Andorra has implemented a residency by investment program, which requires a minimum for processing.600,000 eurosThe process will take about three months. In Bulgaria, however, investors can expect citizenship, although the process may take up to two years with an investment starting from...512,000 euros.

EB-5 program in the USA

An interesting solution is also the programEB-5In the USA, where after the expiration31 monthsto an investor who will invest a minimum900,000 dollarsa minimum investment. St. Kitts and Nevis offer the opportunity to obtain citizenship through investment, and the processing time will take only two months with an investment starting from250,000 dollars.

Greece and Spain: alternative options

Greece also allows investment in stocks or bank deposits, providing residency within three months with an investment starting from400,000 eurosSpain, in turn, issues a residence permit within two months for investments starting from1,000,000 euros.

Dominica and Malta

Dominica offers citizenship through investment. Here, a minimum investment is required.100,000 dollarsto become a citizen in two months. Malta is another country with favorable conditions that offers citizenship for15 monthswith an investment starting from700,000 euros.

Italy and Portugal: affordable options

Italy, as is well known, offers residency in just three months with an investment starting from250,000 eurosWhile Portugal, as already noted, requires less200,000 eurosto obtain resident status in five months.

Other countries with immigration programs

• Malta opens its doors for permanent residency through investments starting from250,000 euros.
• Vanuatu stands out among other countries by offering citizenship in just one month with an investment starting from130,000 dollars.
• In Hungary, the process of obtaining residency takes four months with a minimum investment starting from250,000 euros.
• An extraordinary interest is also generated by the program in the UAE: a residence permit can be obtained in Dubai in just four months with investments starting from204,000 dollars.
• The United Kingdom also offers interested investors residency within two months for an amount starting from2,220,000 euros.
• Georgia offers investments starting from100,000 dollarsfor obtaining a residence permit through the purchase of real estate.
• Antigua and Barbuda offer citizenship in three months with investments starting from100,000 dollars.
• Grenada offers citizenship in four months with investments starting from150,000 dollars.
• Austria has interesting conditions for entrepreneurs: obtaining a residence permit through the status of a self-employed manager takes four months, but you will need to invest.3,000,000 euros.
• Cyprus offers similar conditions, but the citizenship application process can take six months and requires2,150,000 euros.
• Latvia welcomes real estate buyers, offering residency permits for investments starting from250,000 euros.

All these options highlight the desire of states to attract foreign investors and open new horizons for migration.

Conclusion

The analysis of the Henley & Partners report on global millionaire emigration for 2022 highlights the complexity and multifaceted nature of changes in the world migration landscape. I was struck by how Russia found itself at the center of this event, losing a significant number of high-net-worth citizens. The study shows that emigration processes are not limited to economic indicators but also involve political, social, and environmental factors that influence the choice of a country for residence.

The outflow of millionaires from Russia, totaling 15,000 people, is not just a number; it represents the lives of individuals making the decision to change their lives in search of a better future. Figures like 2,800 millionaires from Ukraine or 1,500 from the UK also confirm that the world has become an unstable place in search of safety and opportunities. Why is this happening? Personally, I see that the realities of the COVID pandemic, changes in tax policy, and the instability of the social climate are driving forces behind this migration.

New migration trends

Paradoxically, the results also show that some countries, such as the UAE, Australia, and Israel, are becoming magnets for the wealthy. These countries are exploring strategies to attract capital and talent by creating more lenient immigration conditions and favorable living opportunities. According to forecasts, by 2022, the UAE was expected to receive a net influx of 4,000 millionaires, which only confirms their successful policies.

Why do people migrate?

Additionally, we are observing a new trend in investment migration, where an increasing number of wealthy individuals are considering relocation not only for economic benefits but also for ensuring safety and creating new opportunities for their families. According to estimates,90%Countries with the highest net influx of millionaires implement citizenship or residency programs through investment. This demonstrates how, on an individual level, the decision to migrate becomes a means of seeking not only material well-being but also stability for the future.

Result

Thus, by analyzing the data, it becomes clear that the migration of millionaires is a mirror reflection of the modern world, which strives for security, comfortable living conditions, and a favorable climate. Understanding these trends will be key to successful adaptation for both the countries welcoming new residents and the migrants themselves, who are searching for their place in the sun in this constantly changing global society.