UK Wealthy Families Consider Moving Abroad Amid Upcoming Budget Changes
As-salamu alaykum! Many affluent families in the UK are thinking about relocating their wealth and homes overseas. Experts say the upcoming November budget, which might change rules about non-dom taxes, could speed up this trend of people and money leaving the country.
There’s growing concern about how unpredictable the regulations have become and how the UK is losing its charm as a financial hub. Philippe Amarante, a partner at Henley & Partners, mentioned that a lot of people are choosing to leave because trust in business and government rules is weakening.
The latest report shows that in 2025, about 16,500 millionaires might leave the UK, following 9,500 in 2024. Since 2017, over 16,000 millionaires have moved away, making it one of the biggest shifts in wealth worldwide. This is linked to factors like Brexit, changes in tax laws, and a shaky business atmosphere.
Wealthy people prefer safe and reliable places to live and work, not just in terms of crime but also stable laws. This trend isn’t just in the UK – globally, more people are applying for residence or citizenship in other countries. For example, many Americans are moving to the UK, but it doesn’t balance out the number of British people leaving.
Some feel London isn’t the center of everything anymore, and clients are asking for backup plans because things are uncertain. This lack of confidence causes missed chances and pushes entrepreneurs to explore other countries.
There’s hope that the UK’s November budget will address these issues, but big changes seem unlikely. Part of the problem is the growing anti-migration feeling in Europe and the UK, unlike places such as the UAE where starting a business and getting a residence is easier.
London will still be a financial center, but many wealthy individuals are diversifying by investing elsewhere where they feel more respected and secure. It’s like when neighbors start leaving, you wonder if it’s time to go too.
On a positive note, Abu Dhabi is attracting professionals and investors with its growing medical and innovation sectors. Companies are moving research and manufacturing there, benefiting from a cooperative environment and strong government support.
For instance, a UK biotech firm is working with Abu Dhabi partners on AI-driven health research, and entrepreneurs in neurotechnology are finding Abu Dhabi a great place to grow their businesses. The emirate offers family safety, economic freedom, and access to global markets, making it a preferred spot for many.
Insha’Allah, this trend shows how important it is for countries to create welcoming and stable environments for their citizens and investors, so talents and resources stay and thrive.
https://www.thenationalnews.co