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Montenegro Gains Global Attention By Attracting Millionaires With Low Taxes And Strategic Location, While The United Kingdom Faces Biggest Exodus Of Rich People In Ten Years
The global landscape is witnessing an unprecedented transformation in the mobility of the wealthiest. By 2025, around 142,000 millionaires are expected to relocate, leaving behind luxury properties and established routines in search of financial stability and new opportunities.
The forecast is that by 2026 the number will rise to approximately 165,000, driven by geopolitical and economic instabilities.
This movement is not limited to traditional destinations like Switzerland, the United States, and the United Arab Emirates (UAE), which remain attractive.
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A new star is emerging on the map: Montenegro. This small European country, situated between the Adriatic Sea and the Dinaric Alps, recorded a 124% increase in the number of millionaires over the last decade, according to the Henley Private Wealth Migration Report 2025.
Montenegro As A New Hub
With a population of 2,800 millionaires, Montenegro still does not compare in volume to other nations but has been gaining prominence.
Part of this growth is attributed to the former citizenship investment program, known as the “golden visa.”
In addition, its strategic location and attractive tax policies help establish the country as a wealth preservation destination.
According to Dominic Volek from Henley & Partners, the low taxation regime, with fixed income taxes and no taxes on inheritance or gifts, makes Montenegro extremely competitive.
The appeal package includes the Adriatic coast, luxury properties, and a Mediterranean lifestyle, creating both financial and personal appeal.
The Great Wealth Migration
The projected growth in millionaire migration reflects a context of instability. Volek points out that factors such as geopolitical tensions, macroeconomic challenges, and sociopolitical fragmentation accelerate this movement.
He notes that global investors are incorporating political risks into decisions about where to live and invest, a phenomenon already referred to by some as the “great wealth migration“.
The UAE is solidifying its position as another prominent destination, attracting about 9,800 millionaires just this year.
The combination of political stability, a business-friendly environment, and its own “golden visa” reinforces the country’s image as a safe haven for great fortunes.
Western Europe In Wealth Decline
While Montenegro and other countries like Malta and Poland are making strides, the reality for parts of Western Europe is the opposite.
In 2025, for the first time in a decade, a European country leads the list of the highest outflow of millionaires: the United Kingdom. The expectation is that 16,500 will leave the country, withdrawing an estimated US$ 91.8 billion.
This exodus represents a 9% decline in the number of British millionaires over the last ten years. The phenomenon is attributed to factors such as the impact of Brexit, political instability, and tax changes affecting non-domiciled foreigners.
The CEO of Henley & Partners, Juerg Steffen, notes that despite the outflow, the UK still attracts wealthy individuals from other regions, especially Americans dissatisfied with the Trump administration.
However, without more accessible entry mechanisms, the country is unable to balance the loss with new arrivals.
Warning Signs In Other Powerhouses
France, Spain, and Germany are also facing concerning signs. According to Volek, between 2023 and 2024, there was a 114% increase in inquiries from German millionaires about residency and citizenship options abroad.
This data suggests, he argues, a gradual loss of confidence among Europe’s wealthy elite, with potential future impacts on financial stability and innovation.
Thus, the global wealth map is undergoing a reconfiguration. The movement is not only geographical but also strategic, reflecting a scenario where security, stability, and opportunities weigh more than tradition when deciding where to live and invest.
With information from Estadão.
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