The United Arab Emirates, especially Dubai, has become a global hotspot for wealth migration, driven by regulatory reforms, attractive tax policies, and the introduction of long-term Golden Visas. According to the recent Henley & Partners Private Wealth Migration Report, the UAE is expected to welcome at least 9,800 millionaires by 2025, highlighting its growing appeal to high-net-worth individuals seeking stability and opportunity.

Among the latest high-profile relocations is John Fredriksen, a Norwegian-born shipping magnate and the UK’s ninth-richest individual. He has moved significant business operations from London to the UAE, citing the UK government’s decision to eliminate its long-standing “non-dom” tax regime as a key factor behind his move. With a fortune exceeding $10 billion, Fredriksen’s shift symbolizes a broader trend of wealth exiting Britain.

Another notable figure is Michael Edward Platt, a British billionaire and co-founder of BlueCrest Capital Management, which is Europe’s third-largest hedge fund. He has relocated his primary residence and family office to the UAE as of June 2025. Platt’s firm, which peaked at managing over $35 billion in assets, had previously expanded its presence in Dubai following regulatory approval in 2022.

Shravin Bharti Mittal, the founder of Unbound and Managing Director of Bharti Global Ltd, has also made the move, representing the next generation of India’s wealthy business families. At just 37 years old, Mittal is the largest individual shareholder in the UK telecom giant BT Group Plc. In April 2025, he registered a new branch of Unbound in Abu Dhabi, strategically responding to the UK’s tightening tax regulations.

Pavel Durov, the Russian entrepreneur and founder of the encrypted messaging platform Telegram, has been residing in Dubai since 2017, where the company has also set up its global headquarters. After leaving Russia in 2014 due to political pressures, Durov chose the UAE as his long-term base. As a UAE citizen, he was ranked the 120th richest person in the world by Forbes in August 2024, with a net worth of $15.5 billion.

Lastly, Egyptian billionaire Nassef Sawiris, the wealthiest individual in his country with an estimated net worth of $9.6 billion, has relocated his family office, NNS Group, to the Abu Dhabi Global Market. Sawiris holds significant stakes in OCI NV, a leading nitrogen fertilizer producer, as well as substantial investments in Adidas and LafargeHolcim, further establishing the UAE as a growing hub for elite international wealth management.