Which countries are millionaires choosing to live in 2026?

The report introduces the Wealth Mobility Competitiveness Score, which evaluates jurisdictions across factors such as taxation, rule of law, quality of life, investor access, family inclusion, geopolitical stability and capital mobility.

Henley & Partners CEO Juerg Steffen noted that, for much of the past century, governments could regard their wealthiest residents as a relatively fixed asset. Business interests, family ties and limited international mobility kept them anchored to one country, but that assumption is becoming increasingly outdated.

According to Steffen, wealthy families are increasingly building what the company describes as “sovereign portfolios.” Instead of relying on a single country, they combine residence rights, citizenship options, business interests and assets across several jurisdictions.

This approach allows families to reduce their exposure to political, economic and geopolitical risks while preserving access to different markets and opportunities.

“Historical reputation alone is becoming less decisive than it once was. Increasingly, jurisdictions must compete through a combination of policy competitiveness, investor access, institutional quality, stability, and long-term predictability,” Steffen wrote.

Wealth is also becoming more responsive to government decisions. Tax or migration reforms that once took years to influence investor behavior can now produce noticeable changes within months.

Among the selected jurisdictions highlighted in the report, the UAE recorded the highest Wealth Mobility Competitiveness Score at 85.3 out of 100.

The Emirates attract wealthy individuals through favorable taxation, safety, international connectivity, developed infrastructure and long-term residence programs. At the same time, many UAE-based investors are securing residence or citizenship rights elsewhere while retaining the country as their primary business and investment base.

Singapore followed with 79.5 points. Its position is supported by political stability, strong institutions, developed capital markets and sustained demand from wealthy families across Asia.

New Zealand received 75.8 points. Investor interest increased after the reform of its Active Investor Plus Visa Program. The country also benefits from strong rule of law, geopolitical stability and its appeal as a destination for long-term family planning.

The Cayman Islands ranked next with 74.3 points, followed by Cyprus with 73.5, the Netherlands with 72.8 and Portugal with 72.5.

Italy scored 72.3 points and emerged as one of Europe’s most attractive destinations for internationally mobile wealth.

The country offers new residents a fixed annual tax on foreign income for 15 years, with no foreign wealth tax. The annual payment increased to EUR 300,000 in January 2026, but demand among ultra-high-net-worth families remained resilient.

Much of the interest in Italy is coming from the UK following changes to its non-dom tax regime. Wealthy families are increasingly drawn to Italy’s combination of predictable taxation, access to the European Union market and favorable inheritance rules.

Bermuda received 72 points, followed by Uruguay with 71.8, Latvia with 71.7 and Panama with 71.5.

Hong Kong scored 71.2 points as family office activity and investor migration demand continued to recover.

Switzerland followed with 70.8 points. Its appeal is supported by demand for stability, capital preservation and wealth protection amid geopolitical uncertainty.

Greece received 70.5 points and has benefited from changes to investment migration programs elsewhere in Europe. Spain closed its Golden Visa Program, while Portugal ended its residence route linked directly to property investment. As a result, some investor demand has shifted toward Greece.

Costa Rica scored 70.2 points, while Monaco completed the selected group with 70 points.

The report stresses that the list is not a global ranking of countries by their millionaire populations. It also does not measure actual millionaire arrivals or departures.

The scores are directional indicators showing how competitive selected jurisdictions are in attracting and supporting internationally mobile wealth. Inclusion reflects a combination of structural conditions, investor demand, policy developments and observed wealth mobility trends.

Earlier, Qazinform News Agency reported that the global billionaire population exceeded 4,000 for the first time in 2026.