Top 10 net inflows of high-net-worth individuals to countries in 2022
Note: High-net-worth individual inflow and outflow data represent the expected net inflows and outflows of millionaires in 2022 to the top 10 countries globally (i.e., the number of high-net-worth individuals relocating to and from number of immigrants in a country). Net inflows indicate that more high-net-worth individuals are immigrating to a country than leaving, while net outflows indicate that more millionaires are emigrating than arriving.
Forecast data in the Henry Global Citizen Report shows that the top 10 countries with net inflows of wealthy individuals in 2022 will be the United Arab Emirates, Australia, Singapore, Israel, Switzerland, the United States, Portugal, Greece, Canada and New Zealand . A large number of millionaires are also expected to switch to: Malta , Mauritius and Monaco .
On the other hand, the 10 countries and regions with the largest net outflows of wealthy individuals are expected to be Russia, China, India, Hong Kong, Ukraine , Brazil , the United Kingdom, Mexico , Saudi Arabia and Indonesia .
2023 will be the biggest year on record for immigration
Dr. Juerg Steffen, CEO of Henley & Partners, said that the migration of high-net-worth individuals has been on the rise over the past decade until 2020 and 2021, due to the COVID-19 pandemic. Migration rates among net worth individuals have understandably declined.
Forecasts for 2022 reflect an extremely unstable environment around the world. By the end of this year, 88,000 high-net-worth individuals are expected to move to a new country, down 22,000 from 110,000 in 2019. 2023 is expected to be the biggest year yet for millionaire immigration, with up to 125,000, as wealthy investors and their families prepare in earnest for the new post-pandemic world, with a reshuffling of the global order yet to be revealed, climate change The threat is always there.
New World Wealth research director Andrew Amoils said the immigration data for wealthy individuals was a barometer of the health of the economy. “The wealthy are extremely mobile, and their movements can provide early warning signs of future national trends. Countries that attract wealthy individuals and families to immigrate to their shores tend to be strong, with low crime rates, competitive tax rates, and attractive business opportunities
1, Britain and the United States: The strong are in decline
Destinations that have traditionally attracted wealthy investors are losing their appeal, according to new data. The United Kingdom, once touted as the world's financial center, continues to lose high-net-worth individuals, with a net outflow of 1,500 expected in 2022. The trend started five years ago, when the Brexit vote and tax increases led to more high-net-worth individuals leaving the UK. Since 2017, there have been net outflows of approximately 12,000 high-net-worth individuals from the UK.
The appeal of another financial giant, the United States, is also declining. The United States is significantly less popular among high-net-worth individuals than it was before the COVID-19 outbreak, which may be partly due to the threat of higher taxes. The country still attracts more high-net-worth individuals inflows than outflows, with a net inflow of 1,500 expected in 2022, but this is down 86% from the 2019 level of 10,800 high-net-worth individuals.
2, Australia, New Zealand, Singapore and other countries are the big winners.
Australia, which has long performed well, has been attracting a large number of wealthy people, second only to the United Arab Emirates. New World Wealth estimates that more than $80,000 millionaires have immigrated to the country in the past 20 years. By 2022, net inflows are expected to be 3,500 people - the second highest in the world.
Neighboring New Zealand is expected to see a net inflow of 800 wealthy individuals in 2022.
And Singapore, Asia's main affluent hub, continues to attract millionaires, with a net inflow of 2,800 expected - an 87% increase compared to 1,500 in 2019.
China’s wealth immigration is beginning to be affected, with a net outflow of 10,000 wealthy individuals expected in 2022.
3. The rise of the UAE as a wealth center
In contrast, the UAE has become the focus of strong attention from wealthy investors. The net inflow of wealthy individuals in 2022 will be the highest in the world, expected to be 4,000 people, compared with the net inflow of 1,300 people in 2019. A massive increase of 208%, one of the largest net inflows ever. This reflects the country’s significant rise in the Henley Passport Index ranking over the past decade as the country focuses on attracting tourism and trade through the implementation of a series of mutually beneficial visa-free measures. The UAE is now taking the same competitive, flexible approach to adapting its immigration regulations to attract private wealth, capital and talent.
Continued turmoil will stimulate demand for investment immigration.
Dominic Volek, head of private clients at Henley & Partners, said, "The recent turmoil is causing this situation to change - more investors will consider their investment for a variety of reasons. of families moving to other countries, ranging from safety and security to education and healthcare to climate resilience and even cryptocurrency friendliness
Notably, the top 10 countries predicted to see net HNWI inflows in 2022. Among them, 9 countries have formal investment immigration programs that encourage foreign direct investment in exchange for residency or citizenship. ”
Investment immigration project consultations in the first quarter of 2022 increased by 55% compared with the previous quarter. , which itself is a record. The top four ethnic groups currently driving demand are Russians, Indians, Americans and British, with Ukrainians entering the global top ten for the first time ever.
The Portugal Golden Residence Permit Program remains the most popular program in 2022, followed by the St. Kitts and Nevis Citizenship by Investment Program. Then there’s Canada, where the Canadian Startup Visa Program is the fastest way for entrepreneurs and wealthy individuals to enter Canadian residence and the North American market. Increasingly popular this year is the Greek Golden Visa program, and rounding out the top five is the Antigua and Barbuda Citizenship by Investment Programme.
Under the epidemic, the immigration policies of various countries are complex and changeable.
The U.S. immigration policy has picked up.
During the Trump administration, he has always advocated reducing the number of legal immigrants. Now, in the Biden era, the U.S. immigration policy has shown a loose and friendly trend, especially the restart of EB-5 investment immigration. The investment amount has dropped to US$800,000, and EB-1A has returned to no-schedule status, indicating that immigration may pick up.
Canada’s immigration policy continues to be favorable
The Canadian government has always welcomed new immigrants and has been committed to providing more ways for new immigrants to land.
In the latest immigration plan announced by the Canadian Immigration Service for the next three years, the immigration quota has been increased again. In 2022, Canada will receive 432,000 new immigrants.
The focus will be on attracting skilled workers who can make economic contributions to Canada and solve the labor shortage problem, so among economic immigration projects, the Provincial Nominee Program will become the main application channel.
Australia’s immigration policy remains stable
Australia announced that the total immigration quota for the 2022-2023 fiscal year will remain unchanged at 160,000, but the allocation of quotas has been adjusted. The skilled and family immigration quotas account for approximately 2/3 and 1/3 respectively. , the quota for remote areas has been doubled to 25,000 places.
European immigration policy tightens
The European Commission has been calling on its member states to cancel the "golden passport" program that sells citizenship to foreign investors, and strictly supervise and review the "golden visa " project that obtains residency by investment. Cyprus abolished the "Golden Passport" project in November 2020, Bulgaria also canceled the "Golden Passport" in March 2022. The European Commission once again urged Malta on April 7 to immediately stop issuing "golden passports" for the purpose of attracting investment, otherwise it will file a lawsuit with the European Court of Justice.
In the later stage, Irish investment immigration may also be suspended, and the investment threshold will most likely increase after resumption. Türkiye The threshold for naturalization for purchasing a house has increased from the original US$250,000 to US$400,000.
From this point of view, whether it is to seize the window period of favorable policies or to catch the "last train" of political change, the best response is to act as soon as possible.
