Where Do the Wealthy Live? Destinations for Millionaires in 2025

The world’s wealthy elites aren’t just chasing low taxes or beachfront property – they’re relocating with purpose.

In 2025, global mobility is about more than financial gain. For high-net-worth individuals (HWNIs), entrepreneurs and global investors, the ideal destination offers a mix of stability, opportunity, lifestyle and long-term value.

The places attracting serious wealth today aren’t always the obvious choices. Instead, they are often countries that offer pro-business policies, strong legal frameworks, efficient infrastructure, and, increasingly, a sense of belonging.

Over the past few years, the Nomad Capitalist team has analysed the data, tracked investment flows and spoken widely to people who are actively relocating.

What they’ve found is a clear shift in mindset. Relocation is no longer about merely escaping where you are – it’s about strategic migration, which means finding somewhere that supports personal and financial freedom and professional growth.

Below is a list of where wealthy investors and entrepreneurs are really putting down roots in 2025 – and why.

What Do Millionaires Look for in a Destination?

​​It’s not just about the bottom line anymore.

These days, the world’s wealthiest people want to go to a place that fuels their business ambitions, feels safe and welcoming and offers a lifestyle that makes the hard work feel worthwhile. 

That’s not to ignore the fact that a major motivation for most ultra-rich people clearly comes down to practical matters, such as examining countries with favourable tax policies (on income, capital gains, and inheritance taxes).

But for many wealthy people, the answer about where to go lies deeper.

Innovative investors are also looking for healthy, growing economies where their money can work for them. They also want easy-to-manage regulations and stability.

Top-notch healthcare, excellent schools (if children are a consideration), and a low crime rate are non-negotiable. 

Beyond those essentials, it’s about finding a place that feels good to be a part of – one with a busy culture, good food, maybe some natural beauty and an outdoor lifestyle. 

It wouldn’t hurt either if the second citizenship allowed greater opportunity to travel the world more freely. 

It’s about feeling like a citizen of the world, with a home base that keeps you connected.

Top 7 Destinations for Millionaires in 2025

So, with all this in mind, let’s unpack the top destinations in 2025. 

1. Monaco

Monaco – the name alone conjures images of yachts, casinos and Formula 1 racing. And yes, it’s a playground for the wealthy, but there’s more to it than just glitz. 

The appeal also lies in the fact that residents pay no income, capital gain or inheritance levies. 

Beyond the zero-tax siren song, you’ve got top-tier safety, healthcare that’s second to none and a surprisingly active business scene, especially if you’re in finance, shipping or anything remotely ‘luxury.’ 

It has programs for residency and citizenship, which you can learn more about here. 

However, Monaco is expensive. The cost of living and real estate can be very high. And while it’s international, its small size can feel limiting for some.

It’s a great place to be, but it’s not necessarily a place to launch from. 

2. Dubai

Dubai is the land of ‘bigger, taller, faster’ that often feels like a real-life sci-fi movie. 

But beneath the stunning skyscrapers and artificial islands, there’s a very pragmatic appeal for the modern millionaire – one that’s fueled a UAE tech boom and a surge in finance and real estate investment there.

The appeal? No personal income taxes. 

On top of that, they’ve made it quite simple to live there long-term with their UAE Golden Visa. 

In Dubai, you’ll find a truly global community, world-class infrastructure and a ‘can-do’ attitude that’s infectious. On top of that, Dubai’s prime location makes it a fantastic base for accessing Asia, Africa and Europe.

However, it’s not all sunshine and Lamborghinis. The summer heat is brutal; the culture, while evolving, is still relatively conservative; and while there’s ‘no income tax’, there is a 9% tax on most businesses. 

The cost of living can be high and it’s a place that’s constantly under construction, which gives it a transient feeling.  

Dubai is great for people who are ambitious, creative and live a fast-paced, global lifestyle. 

3. Singapore

Singapore is known as the Switzerland of Asia – meticulously clean, incredibly efficient and undeniably prosperous. 

While not a zero-tax haven, Singapore has a very competitive tax regime, with low personal income tax rates and no capital gains tax. 

On top of that, it’s a global financial hub famed for its stability, strong rule of law and pro-business governance.

Add to that top-notch healthcare, world-class education and an exciting social scene, and you’ve got a superb package.

However, Singapore has its trade-offs. Space is at a premium, so expect high property prices and a relatively compact living environment. 

It’s also consistently hot and humid year-round. 

If you want order and predictability, this is the place for you.

4. Zurich, Switzerland 

Zurich, one of the world’s wealthiest cities with its postcard-perfect alpine scenery, is an established home for millionaires. 

There’s a lot more on offer here than just snow-capped mountains. 

Switzerland’s residency program opens the door to long-term living. The Swiss Franc is rock-solid, the political system is as stable as it gets and the quality of life is, quite frankly, exceptional. 

Expect pristine, exclusive residential streets, world-class infrastructure and easy access to some of the best skiing in the world.

But there’s a price to be paid. Zurich is expensive – even when compared to other leading European cities. It can also feel a bit reserved and the pace of life is slower, which can be a blessing or a curse, depending on your personality. 

Zurich is for those who crave stability, security and an impeccable quality of life.

5. New York City

Yes, New York’s skyline, energy and attitude are iconic, but living there is a different beast. 

It’s a global hub for finance, media, fashion, tech, you name it. There, you’ll find a tribe for everything, no matter how niche, which is just as well because if you want to thrive in New York, you’ll need to network. 

Plus, it’s expensive. Ultimate, New York is for those who crave constant stimulation, thrive on ambition and have the resources (and resilience) to handle the relentless pace. 

7. Sydney, Australia

Sydney is all about escaping from the instability and uncertainty of other global hubs. 

It offers high-net-worth individuals a rare combination of first-world infrastructure, a safe economy and a political climate that, by comparison, feels remarkably calm. 

Beyond that, the Australian lifestyle is appealing. It’s easy to be close to nature, there’s a growing food scene, and the culture values work-life balance (even at the highest levels).

However, it comes with caveats. Property is notoriously expensive and the cost of living is generally high.

On top of that, while Australia welcomes skilled migrants, the immigration process can be lengthy and complex for those looking for residency.

6. London, the UK

London is a city that exudes wealth and influence.

For the world’s wealthiest individuals, the draw lies in accessing its unique ecosystem. The combination of financial power from the old banks and fintech startups creates new opportunities for investment and growth. 

The easy access to Europe and the sheer breadth of experiences on offer is staggering.  It’s also a nice place to live while feeling both grounded in tradition and connected to the future.

Even better, it’s accessible as it has a handful of residency-by-investment programs. 

However, the advantages of the world’s richest cities, such as London, come at a significant price. The cost of living, particularly property, is among the highest in the world. 

On top of that, England in general is suffering an exodus of millionaires as the new government wealth taxes, and effective ending of non-dom status, begin to bite.

At the moment, London requires a certain resilience, but the rewards can still be substantial. How much longer that remains the case is a moot point.

Emerging Hotspots for the Wealthy

While established hubs still hold their appeal, a new wave of destinations is quietly attracting the attention of millionaires. 

Of course, to be listed here, these places also have to meet the requirements of a modern millionaire. 

While they meet the basic requirements, the true excitement comes from being in a place where the possibilities are growing.

Portugal’s Lisbon, for example, is rising in popularity with entrepreneurs. Portugal’s Golden Visa program, coupled with a relatively low cost of living, a strong entrepreneur scene and a thriving cultural life, makes it incredibly hard to refuse.  It’s got that European charm without the Parisian price tag.

Then there’s Medellín, Colombia. Once off-limits, Medellín has undergone a huge transformation, one that’s caught the attention of millionaires and investors alike. 

The city has a nice vibe, good weather and living costs that won’t break the bank. It’s a bit of a hidden gem, perfect for anyone looking for adventure and new opportunities at the same time.

Finally, keep an eye on Kuala Lumpur, Malaysia. It has a fascinating blend of Indian and Chinese cultures, a relatively low cost of living, excellent infrastructure and a strategic location in Southeast Asia. 

World’s Leading Destinations for Millionaires in 2025: FAQs

Go Where You’re Treated Best

The places wealthy individuals are choosing to move to are changing. Some traditional havens retain their appeal, but the rise of new hotspots indicates a shift in priorities. 

The world’s wealthiest people are increasingly seeking not just financial advantages but also a deeper sense of purpose, connection and opportunity. 

The destinations on the above list, both established and emerging, reflect this changing dynamic. They represent a move towards a more holistic definition of success, where quality of life, global mobility and personal fulfilment are just as relevant as the bottom line. 

It’s Nomad Capitalist’s case that this often means strategically positioning yourself where you’re treated best. 

Curious about how that might look for you? 

Reach out to us. We’ve helped 2,000+ high-net-worth individuals to ‘go where they’re treated best’, whether that’s by moving their business offshore, relocating to a tax-friendly country, or even pursuing a second citizenship. We can do the same for you.