Portugal news – Portugal ranks 9th country globally with the highest projected net inflows of millionaires in 2024, according to the Henley Private Wealth Migration Report 2024.
Over 800 millionaires (High Net Worth Individuals with liquid investable wealth of USD 1 million or more) have chosen to become Portuguese residents in 2024, according to projections based on data for the first six months of the year.
Portugal has seen a large influx of wealthy residents over the past decade, especially from mainland Europe, the UK, Brazil, South Africa, China, Türkiye, and the USA. Despite recent changes to its popular Golden Residence Permit Program, Portugal continues to attract large numbers of millionaires in 2024.
Here are the Top 10 countries attracting the most millionaires in 2024:
Why is Portugal one of the countries attracting the most millionaires?
Millionaires and High Net Worth Individuals refer to individuals with liquid investable wealth of USD 1 million or more and Millionaire migration is a leading indicator of the overall health of a country and its economy.
The countries with the highest growth in the number of millionaires continue to be those who have prioritized policies designed to entice them to their shores. Nine out of the Top 10 countries attracting the most millionaires in 2024 have formal investment migration programs and actively encourage foreign direct investment in return for residence or citizenship rights.
The most sought-after residence programs in 2024 are Portugal’s Golden Residence Permit Program despite the end of its real-estate investment option, Greece’s Golden Visa Program and Spain’s Residence by Investment Program.
What countries have the highest outflows of millionaires?
With the surge in millionaire migration fueling a corresponding boom in the investment migration sector, Henley & Partners has received record levels of enquiries about residence and citizenship by investment programs over the past 12 months from nearly 200 different countries. The top two nationalities currently driving demand are Americans and Indians, with Brits, Filipinos, and South Africans remaining in the Top 10 as they have done for the last five years.
While the UK is expected to see an unprecedented net loss of 9,500 millionaires in 2024, second only to China worldwide, the UAE looks set to take first place as the world’s leading wealth magnet, with a record-breaking 6,700 high net worth individuals expected to make the Emirates home by the end of the year, significantly boosted by large inflows from the UK and Europe.
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