A significant influx of German millionaires is evaluating the prospect of relocating to the United Arab Emirates (UAE) due to increasing political tensions and economic uncertainty across Europe. This observation comes from a recent survey conducted by Arton Capital, a global investor migration consultancy.

The survey targeted 1,000 German residents with a net worth of at least €1 million ($1.08 million), revealing that 37 percent of these high-net-worth individuals (HNWIs) are now more inclined to consider emigration following the recent federal election. The UAE has emerged as a preferred destination for these affluent individuals, who are looking for new opportunities beyond their home country.

While Canada ranks as the top choice, with 29 percent of respondents showing interest, Australia follows with 22 percent, and the United States at 16 percent. The UAE is positioned seventh, with 11 percent of millionaires expressing interest in relocating there, indicating a potential influx of significant wealth into the region. Notably, Dubai already accommodates over 200 centi-millionaires, placing it among the top 15 cities globally for ultra-high-net-worth residents. Armand Arton, CEO of Arton Capital, stated, “German millionaires have the potential to bring an enormous amount of revenue to the UAE.”

The trend reflects a broader pattern of wealthy Europeans seeking alternatives outside their continent. Arton highlighted that previous surveys revealed 27 percent of British millionaires and 6 percent of French millionaires were also contemplating relocation to the UAE after their respective elections, underscoring the region’s increasing appeal to affluent Europeans.

Political divisions in Germany are driving this potential exodus. The survey indicated that 47 percent of wealthy Germans are concerned about immigration issues, while 42 percent pointed to the rise of far-right politics as a significant factor in their decision to consider leaving. Economic worries also play a crucial role, with 31 percent citing concerns about declining quality of life, 30 percent worried about increased taxes for HNWIs, and 26 percent frustrated with a poor business environment.

Arton explained that both political and economic grievances have contributed to a pessimistic outlook among German millionaires. Jeffrey Hensler, CEO of Passport Legacy, echoed this sentiment, mentioning that a culture of failure has emerged in Germany, leading to a surge in applications from wealthy individuals. He emphasized deeper societal issues, including safety concerns for children, reflecting a stark contrast to the stability that Europe once offered.

The survey also revealed that one in four German millionaires lack confidence in Europe’s economic future. Arton noted that despite Germany’s robust economy and its central role in the EU, many wealthy individuals are hesitant to endure the ongoing political turmoil. Hensler pointed out that in the last 18 months, 2 million illegal immigrants arrived in Germany, which many affluent Germans view as indicative of a deteriorating situation.

For those contemplating relocation, the UAE presents unique advantages compared to traditional wealth havens. Arton remarked that Dubai stands out by offering fast-track residency through its Golden Visa program. This sentiment was reinforced by Hensler, who stated that the UAE faces little competition in attracting global wealth.

The survey indicated a strong interest in residency-by-investment programs, with 88 percent of German millionaires expressing a desire for Golden Visas or citizenship by investment options. Arton commented that wealthy Germans are fatigued by their home country’s political climate and are actively seeking a “plan B.”

This trend aligns with the UAE’s growing global mobility power, which has expanded access to 72 additional destinations since 2015. The Emirates now ranks among the top tier in the Henley Passport Index, offering visa-free access to 185 destinations, a remarkable achievement compared to its previous standings.

As global competition for wealth migration intensifies, Arton noted that the recent introduction of a $5 million “Gold Card” by the United States under the Trump administration aims to attract investors, illustrating the ongoing shifts in the landscape of wealth migration.

Hensler concluded that the UAE is poised to benefit significantly from this trend, as the nation’s policies are attractive to those seeking better opportunities, while European countries struggle to retain their affluent citizens. Arton added that competition for the investment these HNWIs bring to their new host nations will only increase as countries strive to enhance their appeal.