Rich immigrants are leaving Europe’s former favourite international locations, Britain, France and Germany.
The newest examine on excessive internet price migration, carried out by Henley & Companions, a worldwide funding and migration consultancy specializing in residence and citizenship planning, finds that inequality is widening throughout Europe.
Whereas a handful of nations are more and more interesting to globally cell wealth, a number of the continent’s largest economies face rising stress to retain rich populations.
The Henley Non-public Wealth Migration Report 2026, launched this week, breaks with the earlier format. Quite than counting what number of billionaires have moved, we rank international locations utilizing a 100-point wealth switch competitiveness rating.
The upper the rating, the extra enticing a rustic is judged to be for wealth transfers, and this determine is constructed from elements corresponding to taxation, rule of regulation, high quality of life, and political stability.
Nonetheless, this consequence ought to be handled with warning. Dan Needle, founding father of the nonprofit Tax Coverage Associates and former head of UK tax at regulation agency Clifford Likelihood, publicly questioned the reliability of the immigration knowledge produced by Henry and his analysis accomplice New World Wealth, arguing that the strategies used to gather the information weren’t strong sufficient to trace billionaires’ actions with the accuracy typically reported.
Henry mentioned the numbers are supposed to point out a basic development, not as a precise quantity.
It is also price noting that the corporate, which advises purchasers on residency and citizenship, has a industrial curiosity in international wealth mobility. Readers could want to preserve that context in thoughts when weighing the findings.
Europe’s prime vacation spot for rich immigrants
Cyprus topped the European rankings with a rating of 73.5, adopted by the Netherlands (72.8), Portugal (72.5) and Italy (72.3). Switzerland had a rating of 70.8 and Greece had a rating of 70.5.
However rankings solely inform a part of the story. Cyprus, the Netherlands and Portugal scored extremely, whereas the report highlights Italy, Greece and Switzerland as a number of the most engaging locations for rich immigrants.
Italy, Europe’s third largest economic system, scored 72.3 factors. In keeping with the report, Milan is more and more rising as a middle for finance and household workplaces, with a flat tax regime for brand spanking new residents, a good inheritance tax framework and entry to the EU market attracting curiosity.
The report says that Greece, ranked 70.5, is without doubt one of the clearest beneficiaries of the latest upheaval in Europe’s funding migration panorama, following Spain’s closure of its golden visa scheme and Portugal’s withdrawal from actual property routes.
Henry mentioned Switzerland obtained a rating of 70.8, attracting demand from individuals searching for stability and capital preservation amid geopolitical uncertainty.
On the different finish are some main European markets that Henry classifies as aggressive however underneath stress. Germany (69.7), Norway (69.0), UK (68.3) and France (65.7).
Henry factors to indicators of accelerating stress within the UK. The agency, which makes a speciality of residence and citizenship planning, mentioned functions from individuals domiciled within the UK had elevated by 15% between 2024 and 2025.
The UK has additionally grown from quantity 20 in 2018 to constantly rating among the many prime 5 supply markets for brand spanking new prospects.
The report blames this on the abolition of the non-dom tax system, modifications to inheritance tax, the abolition of the Tier 1 investor visa and widespread fiscal uncertainty.
Germany and France have comparable tales. Henry recorded a 16% enhance in inquiries from German nationals from late 2025 to early 2026, whereas France jumped from being amongst its prime 40 supply nationalities in 2024 to the highest 15 in 2026.
As the corporate’s head of Europe, Günther deBrows-Sardapenna, put it, the 2 international locations are “not dropping their attractiveness”, however relatively are dropping floor on the size which can be most necessary to wealth mobility, simply as rival international locations are strengthening their very own provides.
wider worldview
Outdoors of Europe, the UAE recorded one of many highest scores within the examine at 85.3, sustaining its momentum regardless of regional tensions, with most demand reflecting diversification relatively than exit. Singapore topped the dedicated leaders rating with a rating of 79.5, adopted by New Zealand with a rating of 75.8.
The USA, alternatively, presents what Henry calls a paradox. Regardless of being the world’s largest driver of wealth creation, it scored simply 62.3, with functions from US residents doubling in 2025.
Virtually half of these functions have been for applications in Europe, which Henry mentioned displays rising curiosity amongst rich Individuals in abroad residency and citizenship choices.
The report argues that these patterns level to a broader reordering of worldwide wealth mobility, with many European locations more and more competing for internationally cell capital and expertise.
