The UAE is set to witness a sustained influx of ultra-high-net-worth individuals (UHNWIs) as tax advantages and regulatory reforms continue to lure wealthy individuals and families to the region.
This ongoing trend is fundamentally transforming the Middle East’s wealth management landscape and fueling substantial investments in infrastructure. As Tariq Nakhooda, Country Head of UAE at IQ-EQ, noted, “The UAE has become a preferred destination for UHNWIs globally, demonstrating their strong belief in the country as a long-term home.”
The global migration of high-net-worth individuals is accelerating, with an estimated 128,000 millionaires relocating this year alone—a substantial increase from 57,000 a decade ago. The UAE has emerged as a leading destination for this affluent demographic, boasting a millionaire population of 116,500, along with an impressive 308 centi-millionaires and 20 billionaires.
