The rich are leaving the UK due to high taxes. Where the wealthy are going

Record numbers of millionaires are fleeing the UK as other countries such as Greece become more tax-friendly. We reveal the top destinations for migrating millionaires

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(Image credit: Getty Images/Pakawadee Wongjinda)

The UK appears to be becoming a more hostile tax environment for the wealthy and is driving record numbers away amid rising taxes and the end of non-dom status.

New figures show the country tops the list of destinations where millionaires are moving out for the first time.

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Projected net inflows of millionaires. Source: Henley & Partners

Country

Projected net inflows of millionaires

UAE

+9,800

USA

+7,500

Italy

+3,600

Switzerland

+3,000

Saudi Arabia

+2.400

Singapore

+1,600

Portugal

+1,400

Greece

+1,200

Canada

+1,000

Australia

+1,000

Marc Shoffman
Contributing editor

Marc Shoffman is an award-winning freelance journalist specialising in business, personal finance and property. His work has appeared in print and online publications ranging from FT Business to The Times, Mail on Sunday and the i newspaper. He also co-presents the In For A Penny financial planning podcast.

With contributions from