Investment Migration – From: UK

There are several reasons why millionaires are leaving the UK.

First of all, not all Brits leaving are HNWIs. Many are young and financially strapped, leaving for better economic conditions. Tjey are not our Investment Migrants.

But a LOT of HNWIs (including many who are NOT Russians affected by the Ukraine War and Embargos), are indeed leaving. Why? Here are some possible factors:

1. Taxation: One of the primary reasons for wealthy individuals leaving the UK is high taxation. The UK has a progressive tax system, and individuals earning above a certain threshold are subject to higher tax rates. Some wealthy individuals feel that they are being heavily taxed and seek to move to countries with lower tax burdens or more favorable tax regimes.

2. Brexit: The United Kingdom’s decision to leave the European Union, known as Brexit, has had implications for various sectors of the economy. Uncertainty surrounding trade agreements, regulations, and the overall business environment have led many wealthy individuals to relocate to countries within the EU or other global financial centers that offer more stability and access to the European market.

3. Business opportunities: Wealthy individuals seek favorable business environments and opportunities for growth. Many perceive better prospects in other countries that have emerging markets, lower costs of doing business, or more supportive regulatory frameworks.

4. Lifestyle and quality of life: Millionaires also consider factors such as lifestyle and quality of life when deciding where to reside. Many prefer countries with better weather, cultural attractions, healthcare systems, educational opportunities, or a more favorable social environment.

5. Political stability: Political stability is a significant consideration for individuals with substantial wealth. Concerns about political unrest, repeated and rapid changes in leadership and government policies (and perhaps geopolitical risks) have prompted wealthy individuals to seek more stable countries to protect their assets and ensure the long-term security of their wealth.

It’s important to note that while many millionaires may be leaving the UK, others continue to hang on, for now. Individual Migration patterns vary, and decisions are influenced by a combination of personal circumstances, financial considerations, and global trends.