UAE among top destinations for German millionaires seeking relocation

The UAE has ranked seventh among the top destinations where German millionaires plan to relocate in the next 12 months, driven by a slowing economy, high taxes, and political shifts in Germany, according to a new survey by Arton Capital.

The study, which surveyed 1,000 German high-net-worth individuals, found that 11% of them are considering moving to the UAE, attracted by its safety, security, zero income tax, and lucrative real estate opportunities.

“The UAE has become an attractive destination for German investors over the past five years. Many are drawn by its stability, business-friendly environment, and tax advantages compared to Europe,” said Armand Arton, CEO of Arton Capital.

The UAE continues to be a top choice for global millionaires, with a projected net inflow of 6,700 high-net-worth individuals in 2024, more than any other country, according to Henley & Partners.

German millionaires are choosing the UAE because of its safety & security for wealthy individuals, zero personal income tax unlike Europe’s high tax rates, thriving real estate market with high investment returns and stable economy & business-friendly policies.

Other top destinations for German millionaires include Canada, Australia, the US, New Zealand, Spain, and the Netherlands.