Singapore overtakes Hong Kong with millionaires, China has 5 cities among world’s 50 richest, ahead of Australia: report
Number of HK millionaires dropped 27 per cent between 2012 and 2022, while number in Singapore grew by 40 per cent
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Number of HK millionaires dropped 27 per cent between 2012 and 2022, while number in Singapore grew by 40 per cent
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“The citizens of Africa’s wealthiest countries have very low passport power, and poor economic mobility,” it said.
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Namibia has 2,100 US$-millionaires, and its millionaire population is expected to grow by 60% or more over the next decade, up to 2032.
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An increasing number of people are looking out for a Plan B in their lives. That can often entail a second passport, which is one of the reasons why the citizenship business is booming.
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The Africa Wealth Report 2023 revealed that the number of millionaires in Mauritius grew by 69% – the biggest increase in Africa.
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South African cities continue to dominate Africa’s top ten wealthiest cities in terms of resident dollar millionaires.
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One of the main factors encouraging high-net-worth individuals to migrate to the country is the low and highly competitive tax rates that help set up new businesses.
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The total investable wealth currently held on the African continent amounts to $2.4trn and its millionaire population is expected to rise by 42% over the next 10 years, according to the latest 2023 Africa Wealth Report, published on 28 March by Henley & Partners in partnership with New World Wealth.
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Turkiye’s number-one facilitator of Turkish citizenship through investment.
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Ireland and Portugal have axed their programmes, but others are waiting in the wings.
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The latest data on millionaire migration suggests the rich have fallen out of love with the US – why has America lost its shine and where are the wealthy moving to?
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Rich investors increasingly want to get second passports, Bloomberg reported.
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Sarah Nicklin
sarah.nicklin@henleyglobal.com
+27 21 879 1086
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