Why Are UK Millionaires and Billionaires Moving to Dubai?

Rising taxes, stricter regulations, and the UK’s revised Non-Dom tax regime are prompting many wealthy Britons — including steel magnate Lakshmi Mittal — to relocate to the UAE, where Dubai’s tax-friendly system, political stability, and investor-focused policies offer a more appealing base. According to Henley & Partners’ 2025 Private Wealth Migration Report, the UK is set to lose 16,500 millionaires, while the UAE will attract nearly 9,800, drawing in over $63 billion in wealth. Experts say the shift reflects a global realignment of wealth toward more business-savvy destinations. What’s your take — is Dubai becoming the new home for the world’s elite?

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