The number of wealthy people emigrating from the world will hit a new high

The world’s wealthy have begun to migrate across borders. In the United States under the authoritarian Trump administration, the number of wealthy people planning to go abroad and applying for citizenship in countries such as the United Kingdom has increased dramatically. In the United Kingdom, the phenomenon of “Wexit” in which wealthy people flee the United Kingdom due to tax changes is also expanding.

According to estimates by a British consulting firm, the number of wealthy people emigrating from the United Kingdom will reach 142,000 in 2025, more than double the number of 10 years ago, setting a new record.

John Grayson, a popular radio host living in Kansas, a Midwestern United States, decided to emigrate in October 2024 when he believed that Trump’s second re-election as the US president was a foregone conclusion. The reason was “I want to pursue a better life.”

He further strengthened his idea after Trump was re-elected as president, saying, “I am dissatisfied with the current situation in the United States where violent policies are spreading. For my wife and me, this is no longer a suitable place to live.” It is reported that he believes that now that his four children have grown up, it is time to leave the United States.

He traveled around the world looking for a place to move to, considering countries such as the UK, Malta, Canada, Costa Rica, Spain and Portugal. He chose the port city of Porto in Portugal because he could enjoy a rich food culture and music, which suited his lifestyle.

According to statistics from the British government, the number of Americans applying for British citizenship from January to March 2025 exceeded 1,900, setting a record high in the past 20 years since statistics were available.

At Henley & Partners, a British consulting firm that provides immigration and other consulting services to the wealthy, inquiries from American clients are increasing dramatically.

It is reported that from January to March 2025, the number of applications increased by 2.8 times compared with the same period last year. Although they have not yet made up their minds to move, many people think that this is an “insurance” when it is difficult to live in the United States.

Peter Spiro, a professor at the Temple University School of Law in the United States, explained that “in the midst of the historic uncertainty under the Trump administration, the feeling that American citizenship alone cannot be reassured is spreading.” Due to fatigue with the division in the United States, the trend of obtaining dual citizenship as a “political haven” has strengthened.

In the UK, where the wealthy class of the United States is interested, the number of people leaving the UK in search of a tax haven is increasing. This term originated from Brexit, the UK’s withdrawal from the European Union.

“It’s getting hard to continue living in the UK.” An Israeli family living in London who does business around the world decided to leave the UK this year. Their destination is Dubai in the United Arab Emirates (UAE), where there is almost no tax.

The British government will abolish the non-dom tax system in 2025. The exception that income outside the UK will not be taxed if it is not brought into the UK will disappear. This will have a huge impact on the wealthy class who earn investment income around the world.

It is reported that about 10,000 people will leave the UK in 2024, twice as many as the previous year. In China, the wealthy class is also continuing to move to the world in units of 10,000 people.

The wealthy class with huge assets are very sensitive to changes in politics and tax systems. Business activities targeting the mobile wealthy class are also becoming more and more active in various countries.