New Data From Holborn Assets Shows UK Millionaire Exodus Drives Surge in Middle East Expat Financial Planning Demand

DUBAI, UAE, Dec. 12, 2025 /PRNewswire/ -- A historic wave of wealthy Britons is heading for the exits — and the Middle East is one of the biggest beneficiaries. New global wealth-migration data shows the UK is on track to lose around 16,500* millionaires in 2025, the largest outflow of high-net-worth individuals (HNWIs) ever recorded by any country. This follows almost 10,000 departures in 2024 and over 4,000 in 2023, signalling an accelerating trend.

At the same time, the UAE continues to rank as the world's number one destination for incoming millionaires, drawing close to 10,000 new HNWIs annually thanks to its tax-free environment, dynamic economy and global connectivity.

This shifting landscape is reshaping the expat advisory market. Holborn Assets — a financial advisory firm with a major presence in the Middle East — reports a 35% surge in enquiries from British expats, many of whom are seeking help before they relocate.

Holborn Assets COO Simon Parker says the trend is unmistakable:

"This is not a slow leak — it's an exodus. A growing number of wealthy Britons are leaving the UK and choosing the UAE and wider Gulf due to the UK's increasingly complex and punitive tax environment."

The UK labour government's recent abolition of the non-dom tax regime, along with higher capital gains, inheritance and wealth-related taxes, has eroded one of London's long-standing advantages as a global wealth hub. Meanwhile, Gulf cities such as Dubai, Abu Dhabi, Riyadh and Doha have seen wealthy British expats arriving in their droves.

The demand for financial guidance reflects another reality: moving abroad has never been more complicated. Research shows almost half (45%**) of people planning to relocate are unsure how to manage their finances internationally, while 59% worry about taxation and compliance across borders. Increasingly, they also want joined-up guidance on how to legally establish themselves in a new country — from residency routes and visa options to the practicalities of acquiring long-term residency status.

Holborn Assets CEO Robert Parker says today's expat is far more strategic:

"We're no longer just hearing from those who are already living and working overseas. We are seeing more people seeking help before they move.

"It's a clear signal that financial planning is no longer an afterthought for expats. They want clarity on tax, pensions and long-term wealth—and they want it before they make mistakes"

As Britain grapples with a widening "millionaire brain drain", Gulf economies stand to gain. With its zero-income-tax system, business-friendly regulations and high quality of life, the UAE continues to strengthen its position as a preferred global home for wealth — and for the expat professionals who manage it.

Notes to Editors

* Data from Henley's Private Wealth Migration Report 2025

** Data from HSBC/Ipsos: New HSBC research reveals the financial challenges of relocating abroad

About Holborn Assets

Holborn Assets, established in 1998, is a global financial services leader managing over $2 billion in assets. As a family-owned business, we operate with 550+ employees, including 250 advisers, across 23 offices worldwide.

We specialise in providing independent financial advice and wealth management for expatriates, covering financial planning, investments, insurance, retirement and estate planning, and investor visas.

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