Portugal is officially a millionaire hotspot !!

Home > Portugal is officially a millionaire hotspot !!

Porto, Portugal cityscape on the Douro River and Dom Luis I Bridge.

Portugal is among the top ten countries in the world that attracts the most millionaires.

This year, around 88,000 millionaires are expected to move to a new country, with Portugal expected to receive 1,300 new millionaires, putting the country in sixth position in the countries that attract the most millionaires.

Also read 11 Reasons to Move to Portugal in 2022 from India

The ranking is led by the United Arab Emirates, with 4,000 millionaires expected to arrive there by the end of 2022, according to the “Henley Global Citizens Report”, carried out by Henley & Partners.

“The forecast for 2022 reflects an extremely volatile environment around the world. By the end of the year, 88,000 millionaires are expected to have moved to new countries, 22,000 fewer than in 2019, when 110,000 moved.”

The United Arab Emirates — which has become an interesting hotspot among wealthier investors — ranks first on the podium when it comes to millionaire arrivals. The expected arrival of 4,000 millionaires this year represents a 208% boom compared to the flow recorded in 2019 (1,300).

“This influx of millionaires is due, in part, to the country’s adaptable and responsive immigration policies, especially designed to attract private wealth and international talent,” explains the London-based consultant.

The podium is completed with Australia and Singapore, with an expected gain of 3,500 and 2,800 millionaires, respectively, then Israel (2,500), Switzerland (2,200), United States of America (1,500), Portugal (1,300), Greece (1,200), Canada (1,000) and New Zealand (800).

“The richest individuals are extremely mobile, and their movements can provide an early warning signal for future trends in countries. Countries that attract wealthy individuals and families tend to be robust, with low crime rates, competitive tax rates and attractive business opportunities,” explains Andrew Amoils, head of research at New World Wealth.

Despite not appearing in the top ten of the list, Henley & Partners also points out that a large number of millionaires are also expected to move to Malta, Mauritius and Monaco.

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