 At the same time, two mobility flashpoints look set to reshape the geography of global wealth this year: the US , the world's largest private wealth market and creator of new wealth, is also generating record demand for residence and citizenship optionality as affluent Americans seek international diversification in unprecedented numbers; and the Gulf, where ongoing conflict is testing the resilience of the region's emerging wealth hubs, particularly the UAE -- the leading destination for millionaire migration over the past two years -- prompting a new phase of contingency planning among its internationally mobile residents. These findings are among the key insights from the Henley Private Wealth Migration Report 2026 , which identifies a growing shift away from traditional relocation planning as the world's wealthiest increasingly build 'sovereign portfolios' of residence rights, citizenships, investments, and business interests across multiple jurisdictions. In the first five months of 2026 alone, Henley & Partners received applications from 86 nationalities across 47 investment migration programs . More than 28% of applicants currently live outside their country of nationality, underscoring a defining characteristic of today's wealth landscape: HNWIs and their families are increasingly structuring their lives across a range of jurisdictions rather than remaining tied to a single country. "For much of the past century, governments could largely treat their wealthiest residents as a relatively fixed asset -- rooted by businesses, family ties, and limited international mobility. That assumption is becoming increasingly outdated," says Dr. Juerg Steffen , CEO at Henley & Partners. "As a result, jurisdictions are competing not only for capital, but also for the entrepreneurs, investors, business owners, and skilled individuals who drive economic growth, innovation, employment, and prosperity." A New Framework for Understanding Wealth Mobility The 2026 edition marks the most significant evolution of the Henley Private Wealth Migration Report since its launch. While previous editions focused primarily on millionaire migration estimates and directional wealth flows, this year's report introduces the Global Wealth Mobility Framework -- a new analytical model developed by Henley & Partners to assess the structural competitiveness of jurisdictions in attracting, retaining, and supporting internationally mobile wealth. The framework evaluates countries across a range of factors including taxation, investor migration pathways, quality of life, rule of law, family inclusion, geopolitical stability, and capital mobility, generating a Wealth Mobility Competitiveness Score for each market. The report also includes a series of policy spotlights examining how these forces are reshaping private wealth migration around the world. "The world's most mobile wealth are making jurisdictional decisions the way sovereign wealth funds allocate portfolios -- diversifying across climates, governance systems, and geopolitical zones to protect against shocks none of us can fully foresee", says Dr. Parag Khanna , Founder and CEO at AlphaGeo. |
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