As the political climate has begun to shift around the world, many millionaires are packing up and leaving their home countries for greener pastures.
Around 82,000 millionaires opted to migrate to another country in 2016, according to the 2017 Global Wealth Review. The large migration tops 2015, when 64,000 millionaires changed their country of residence, indicating that increased global uncertainty may be prompting the rich to move to places deemed safer, both economically and physically. The United States ranked behind only Australia for the largest gain in millionaire residents last year, adding 10,000 millionaires to Australia’s 11,000. The U.S.’s total is 43% more than the 7,000 it added in 2015.
The list of the countries that added the most millionaires goes as follows:
2016 (millionaire added): 11,000
Australia has recently enacted money-for-visa programs, paving the way for easy migration, most notably from China, which is in close proximity and whose millionaires are uneasy about the reach of its government.
Like Australia, the U.S. offers special visa considerations for those able to pony up the cash, such as the EB-5 program, which requires a $500,000 investment.
Although Canada created some headlines in 2014 when it ended a visa program popular with Chinese nationals, the country also offers generous visa programs for the rich on par with what the U.S. offers.
United Arab Emirates
The United Arab Emirates has long been known as a playground for the rich, with the country’s low tax rates and high safety level providing an appealing place for millionaires to call home.
In the same vein as Australia, the U.S., and Canada, New Zealand also makes it easier for the rich to obtain visas so long as they dump a decent chunk of cash into the economy.