UAE Among Top 10 Countries Where German Millionaires Want To Relocate

(MENAFN– Khaleej Times)

UAE has emerged among the top 10 countries where German millionaires plan to relocate over the next 12 months due to a slowing economy, high taxes and the rise of the far-right parties in the European country, according to a new survey released on Thursday.

Commissioned by investor migration consultancy Arton Capital, the study found that the UAE was ranked seventh with 11 per cent of German high-net-worth-individuals aiming to relocate to UAE over the next year, attracted by its safety, security, zero income tax and high returns in the real estate sector.

The survey covered 1,000 German millionaires aged 18-70 with a net worth of at least €1 million with 18 per cent of them having more than €5 million in wealth between February 24 and March 3, 2025.

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“UAE has become an interesting new destination in the last five years as we have seen a tremendous amount of investments from Germans to UAE. Around 11 per cent of those surveyed are considering UAE as a second home or residency where they would like to immigrate,” said Armand Arton, CEO of Arton Capital.

“One of the main reasons is the geopolitical environment for business and the slowing German economy which has never really recuperated since Covid-19. The Ukraine-Russia war has also created a lot of higher costs of running businesses due to the energy cost increasing drastically, and the productivity of the German economy is just the lowest point,” he added.

According to Henley and Partners, the UAE has solidified its position as the premier destination for high-net-worth individuals globally, with a projected net inflow of over 6,700 millionaires in 2024-more than any other country in the world.

Most of these millionaires are coming from India, Africa, Europe and other Middle Eastern countries.

Armand added that German millionaires are attracted to the UAE because of its stability, despite instability in the world.

“UAE is a very safe place. For people with that amount of wealth in Europe, safety becomes a major concern. You cannot drive the cars that you have worked hard to buy; the UAE, however, presents this freedom of living in a safe environment where they can enjoy their wealth. Real estate investment opportunities are also the reason why people invest here. When these German millionaires come to the UAE, the first thing they do is buy properties for themselves or as an investment,” he said.

“Moreover, the UAE is still not taxing individuals on their personal income which is another main reason why this is the best place for them to come to, as compared to places like Switzerland, Monaco or Singapore which have more complicated tax structures,” Armand added.

“Wealthy Germans are clearly feeling fatigued by the state of politics at home, and are looking elsewhere for a ‘plan B’. The global race to attract HNWIs is heating up. From our research into HNWI sentiment in the UK, France, and now Germany, there is a clear demand for alternative citizenship options for Europe’s wealthiest,” added Armand.

Canada, Australia, the US, New Zealand, Spain and the Netherlands are the top 6 countries where Germans want to migrate after the elections.