Jimmy Widen, founder and CEO of 3SA Estates, offers expert advice.
The migration of millionaires has become a trend. Also known as the “Great Migration of Wealth,” this is a global phenomenon in which internationally wealthy entrepreneurs and investors move not only their businesses but also their families to new locations. While the UAE remains a hotspot destination, wealthy individuals are considering both moving out of and into the region.
The migration of millionaires is driven by a better quality of life, security, mobility and, of course, tax benefits. The movement gained momentum during the COVID-19 pandemic and continues to grow. 110,000 millionaires emigrated in 2019, and 128,000 billionaires are expected to emigrate by the end of 2024.
Investment migration has become a hot topic as destinations around the world begin to realize the benefits of attracting these global citizens. Here are some important points to keep in mind when immigrating: Does the location have an accessible residence visa such as a Golden Visa? Does the place have infrastructure? Are there educational standards? Are there any tax benefits?
Dominik Volek of Henley & Partners, a leader in residence and citizenship by investment, explained: And they build new homes. ”
The UAE remains a haven for the wealthy. The country boasts low crime rates, economic resilience, political stability, and strategic location. Many of these people are now taking their wealth, along with their expertise and networks, to new destinations.
The migration of millionaires is not a new phenomenon. The biggest destinations are China, India, and the UK. By 2024, the exodus of billionaires from the UK is expected to reach 9,500. Key factors include Brexit, tax policy and political uncertainty.
If you are looking to participate in millionaire migration, 3SA Estates is the perfect partner. For many years, the company has worked with customers in the Middle East, from royal families to entrepreneurs. Whether you own a luxury rental property or an investment property, we operate with complete privacy and discretion.
The company offers a team of 25 real estate and hospitality professionals across two destinations and four business services. Hotspot destinations at the moment include Dubai and Marbella. Marbella on the Costa del Sol is considered part of Safe Haven 8. The area is experiencing a renaissance and is home to families from more than 155 countries.
Branded residences include Dolce & Gabbana, Fendi, and Karl Lagerfeld, and Rafael Nadal has invested in building 200 branded residences in this area. Our current property portfolio ranges from Villa Stella, known as Marbella’s Beverly Hills, to Greenscape Villas, a popular gated community for Saudi residents. We have handled real estate transactions in excess of €450 over the past few years and pride ourselves on our luxury real estate and lifestyle experience and a level of personal service that is second to none.
Participating in the migration of the millionaires is about more than just homes. 3SA Estate’s dedicated concierge team can connect you with the best schools, potential clients, and robust social and business networks. Join this movement now.
GO: For more information, please visit www.3sastate.com.
