Why German HNWIs are Flocking to the UAE?

With its strong economy, investor-friendly policies, and rising global influence, could UAE be the next hotspot for Europe’s elite?

A growing number of German millionaires are considering relocating to the UAE due to escalating political tensions and economic uncertainty in Europe, according to a new survey by global investor migration consultancy Arton Capital. This trend coincides with the UAE’s remarkable ascent in global passport rankings, recently securing a spot among the world's top 10 most powerful passports—making it the first Arab nation to achieve this milestone.

The survey, which polled 1,000 high-net-worth German residents (each with a net worth of at least €1 million or $1.08 million), found that 37% are now more inclined to emigrate following Germany’s recent federal elections. Among their preferred destinations, the UAE ranks seventh, with 11% of German millionaires expressing interest in relocating—suggesting a potential influx of significant wealth into the region.

While Canada tops the list of preferred destinations at 29%, followed by Australia (22%) and the United States (16%), the UAE has secured the seventh position with 11% of millionaires expressing interest in relocating to the Emirates — signalling a potential influx of significant wealth to the region. Dubai already hosts over 200 centi-millionaires, placing it among the world’s top 15 cities for ultra-high-net-worth residents according to recent wealth reports.

Global Race 

• 11% of German millionaires are considering relocating to the UAE, driven by political and economic concerns in Germany
• Key reasons for the potential exodus include immigration concerns (47%), rise of the far right (42%), higher taxes (30%), and a poor business environment (26%)
• Countries like Canada, Australia, the US, and the UAE are competing to attract wealthy Germans, with 88% of them interested in Golden Visa and investment-based citizenship programs

Political polarisation driving exodus

The potential exodus comes amid heightened political polarisation in Germany. Immigration concerns (47%) and the rise of the far right (42%) emerged as the primary factors motivating wealthy Germans to consider leaving, according to the survey. Economic factors also play a significant role, with 31% citing concerns about declining quality of life, 30% worried about increased taxes for HNWIs, and 26% lamenting a poor business environment.

Overwhelming vote of confidence in Golden Visas

Golden Visas and Citizenship by Investment programmes around the world could be set for some new German applicants - 88%  of those surveyed said they were interested in accessing these programmes. With a potential exodus of German wealth an increasing possibility, Canada came first amongst millionaire’s preferences. More than a quarter (29%) of those surveyed listed the North American country as among their top two most preferred destinations. Australia came up second in surveyed Germans’ preferences at 22%.

This trend coincides with the UAE’s rising global mobility power, having secured access to an additional 72 destinations worldwide since 2015. The Emirates is now the only Arab nation in the Henley Passport Index’s top tier, with visa-free access to 185 destinations globally—a remarkable achievement for a country that barely registered on global mobility rankings just a few decades ago.

“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 from Europe’s wealthiest. Trump’s decision to implement a ‘Gold Card’ for the US is a statement of intent. Competition for the investment these HNWIs bring to their new host countries will only intensify as countries look to make their propositions as attractive as possible.”

Armand Arton, CEO of Arton Capital

The United States was the third most cited destination, with 16% of respondents choosing it as a preferred destination. With 1 in 4 (25%) of those surveyed not confident in the economic outlook for Europe, states outside the continent might be best poised to capitalise. The US’ strong growth figures and newly announced ‘Gold Card’ for wealthy investors may attract wealthy Germans interested in citizenship/residency by investment options.

Armand Arton, CEO of Arton Capital, commented: “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 from Europe’s wealthiest. Trump’s decision to implement a ‘Gold Card’ for the US is a statement of intent. Competition for the investment these HNWIs bring to their new host countries will only intensify as countries look to make their propositions as attractive as possible.”

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