Where Are My Richest Clients Moving to?

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Recently I got asked an interesting question - Where are my wealthiest clients choosing to set up a residency and relocate?

Clearly, for rich people regulations around taxes are a huge factor to consider. So what are some places where my rich clients tend to choose the most?

Some of them might be easier to guess. As you probably know UAE, and in particular Dubai is a well-known place for rich people to move. It's a very clean zero-tax country, with lots of luxurious properties to choose from. So this one doesn't surprise me at all. Where else are you going to get a world-class city and pay no tax?

The other one that I commonly see is Malta. Many wealthy individuals choose Malta as a place to go and live. Malta offers Citizenship by Investment program, which is currently the only official citizenship by investment in the EU.

Next to Malta comes Cyprus. Like Malta they also used to have a CBI program, however it got shut down recently. This was actually a great deal because you only had to put money into property.
Nevertheless Cyprus remains one of the places where rich people like to go and live.

Portugal is one of the places as well. It offers beautiful geography and a mild climate with the right taxes if you structure yourself the right way. As a foreigner you could live in Portugal for as long as 10 years and take the advantage of the favorable tax regime, under their non-dom program.

Two places that might or might not surprise you are the UK and Ireland. You can also offer a non-dom tax regime, and you can live there for an extended period of time without having to worry about taxes. They are also english speaking countries. This is why many rich people choose to move there.

Another place that is extremely appealing to rich is of course Singapore! A futuristic, beautiful city in Southeast Asia offers everything that most rich people want: safety, beauty, comfort, good weather, good connections and low taxes. If you've been following me for a while you probably know that Singapore is one of my favorite cities in the whole world.
It is extremely expensive, but once people reach certain milestones when it comes to money Singapore seems to make a lot of sense.

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Author: Michael Rosmer

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