CITIZENSHIP: Increasing Numbers of Wealthy Individuals Migrating to Take Advantage of Tax Incentives

A record 128,000 individuals with a net worth exceeding €1 million are projected to relocate this year, surpassing last year’s high of 120,000, as reported by UK-based consultancy Henley & Partners.

This surge is largely driven by upcoming changes from the new Labour government in the UK, which plans to either eliminate or significantly alter the tax benefits currently enjoyed by the wealthy. Additionally, concerns about a potential left-leaning government in France reintroducing a special tax on high-net-worth individuals, along with Italy’s decision to raise its annual tax for wealthy migrants to €200,000, are prompting many to seek more favorable tax environments.

Popular relocation choices include Dubai, Switzerland, and Singapore, as well as certain EU countries like Greece, Spain, and Ireland.

However, these latter nations are under increasing pressure to adjust their tax policies for wealthy migrants. While these individuals contribute significantly to the economy through wealth and consumption, they also create challenges for local communities, such as rising property prices and strains on public infrastructure.

21 August 2025

US: From Risk to Resilience: North American Investment in Sustainable Finance

Sustainable investment in North America has moved from a niche focus to a central pillar for institutional and private investors. In 2025, the region’s financial landscape reflects a blend of political,

Read More
31 January 2025

FRANCE: French investigators open fraud probe against crypto platform Binance

French investigators said on Tuesday they had opened a judicial probe into money laundering, tax fraud and other charges at Binance, the world’s largest cryptocurrency exchange, which said it

Read More
20 January 2024

CHINA: New CIETAC arbitration rules aim to improve ‘effectiveness and efficiency’

A new version of the China International Economic and Trade Arbitration Commission (CIETAC) arbitration rules came into force on 1 January 2024. The update reflects best practice, taking account of

Read More
19 September 2025

US: FinCEN plans to delete data on U.S. companies from beneficial ownership database

Five years after ICIJ’s FinCEN Files investigation exposed the pivotal role the U.S. financial system plays in global dirty money flows, authorities are winding back landmark reforms pushed through

Read More