Safe havens are no longer just about tax. Here's what the rich want now
A record 165,000 millionaires are projected to relocate globally in 2026, driven by a shift from tax-focused decisions to building 'safe haven portfolios' across multiple countries for resilience against geopolitical and economic risks. Experts note that factors like political stability, healthcare, and climate resilience now rival tax advantages as key motivators for wealthy families diversifying their global presence.
Wealthy individuals are increasingly prioritizing resilience over tax benefits when deciding where to live and invest, reshaping global migration trends. Henley & Partners’ latest analysis predicts a record 165,000 millionaires will relocate by 2026, up from 142,000 in 2025, as high-net-worth families adopt 'sovereign portfolios'—spreading residences, investments, and citizenships across multiple jurisdictions to mitigate risks. This shift reflects a broader trend where affluent families no longer rely on a single destination but diversify their global footprint. Dr. Parag Khanna, a contributor to the report, highlights that political stability, governance quality, healthcare, and climate resilience now rival tax rates as key decision factors. Wealthy individuals are evaluating countries based on long-term predictability and institutional strength to withstand future shocks. While tax remains a powerful trigger for relocation, changes in fiscal policies—such as higher wealth or capital gains taxes—are accelerating migration decisions. The UK’s recent adjustments to its non-domicile tax regime have already prompted affluent residents to explore alternatives, with similar debates emerging in France and Germany. Governments now face pressure to maintain fiscal predictability to retain mobile wealth. Jurisdictional diversification is becoming the norm, with families splitting residences, investments, and business operations across different countries. The goal is not just relocation but flexibility to adapt to changing circumstances, a trend that accelerated post-pandemic. This approach ensures wealthy individuals can protect assets and relocate capital or operations if needed, further increasing their global mobility.
This content was automatically generated and/or translated by AI. It may contain inaccuracies. Please refer to the original sources for verification.