An estimated 35% of high-net-worth individuals are actively considering relocating to lower-tax jurisdictions, according to new data from deVere Group.
The firm, which advises around 80,000 predominantly wealthy clients across the UK, Europe, Australia, Asia and Africa, reports a sharp increase in enquiries about changing tax residency, reviewing domicile status and restructuring cross-border business operations.
Nigel Green, chief executive of deVere Group, described the trend as an acceleration of what he calls the “Great Wealth Migration”.
“High-net-worth individuals are reassessing where they base themselves and their assets in response to tax changes, geopolitical tension and policy unpredictability,” Green said. “This is structured, deliberate planning.”
Shift from optimisation to risk management
According to the firm, conversations that once focused primarily on tax optimisation are increasingly centred on risk mitigation. Internal advisory data shows growing demand for advice on second residency rights, corporate re-domiciliation and cross-border restructuring.
Green identified three principal drivers behind the shift.
First, jurisdictional risk has become a core wealth consideration.
Changes to capital gains tax, inheritance frameworks and preferential tax regimes in several developed economies have heightened awareness of how quickly fiscal conditions can evolve. Families are seeking to reduce exposure to a single tax or political system by diversifying residency and legal structures.
“Policy direction can shift within a single political cycle,” Green said. “Families want certainty and structural flexibility.”
Second, relocation is becoming increasingly defensive.
Unlike earlier waves of mobility driven by expansion and growth, current movements are framed around wealth preservation, succession planning and protection from abrupt legislative change. Inheritance exposure, trust structures and intergenerational asset transfers are being reviewed alongside residency decisions.
Third, capital is gravitating toward predictability.
Interest is concentrated in jurisdictions offering fiscal clarity, regulatory stability and robust legal systems.
The United Arab Emirates remains a prominent destination due to its zero personal income tax and long-term residency frameworks. Select European hubs and Asian financial centres with stable regulatory regimes are also attracting sustained attention from internationally mobile families.
Entrepreneurs are simultaneously evaluating corporate headquarters relocations, alternative holding structures and operational re-domiciliation to improve after-tax returns and long-term positioning.
Complex decisions
Advisers caution that relocation decisions involve complex considerations, including double taxation treaties, economic substance requirements, reporting obligations and long-term residency qualification rules. Professional guidance is typically required to ensure compliance.
Green argues that the trend reflects rational responses to global uncertainty rather than opportunism.
“Wealth moves toward stability. When investors perceive policy volatility, they seek jurisdictions where rules are transparent, predictable and favourable.”
While the scale of movement varies by region, global data indicates rising millionaire outflows from higher-tax economies alongside increased inflows into more policy-stable destinations.
Whether the current wave represents a structural shift or a cyclical reaction to policy tightening remains to be seen, but advisory firms report that cross-border planning is now firmly embedded in wealth management strategy.
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