Episode Transcript
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in 2025, a historic wave ofwealth migration is reshaping
global wealth.
Millions of high net worthindividuals are relocating.
Here's where they're heading andwho's losing them.
Welcome to Entrepreneur Expat.
I'm Justin, and on this channelwe talk about global
diversification, how to getsecond residencies and
passports, and how to build thebusiness and the life of your
(00:22):
dreams in a different country.
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And if you're looking to move,whether it's to Mexico, like my
wife and I are in beautiful LakeAl here, right behind us.
Uh, whether it's somewhere inSouth America, in other parts of
Latin America, or even Europe orthe Middle East, you're
definitely going to want toschedule a consult with our
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looking to diversify and buildlives and potentially remote
income streams from all aroundthe world.
Just go to entrepreneurexpat.com.
Slash consult, that'sentrepreneur expat.com/consult.
So let's jump into what exactlyis it that is happening right
now.
So there's this, this indexcalled the Henley Private Wealth
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Migration Report 2025 fromForbes.
And we were review reviewingthis the other day and noticing
just a lot of the trendshappening and that Henley
Private Wealth report said that142,000 millionaires.
Are expected to relocate thisyear with projections reaching
as high as 165,000 in 2026.
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So we're gonna talk about someof the countries that are
winning wealth according to thatreport and some of the countries
that are losing wealth.
So some of the major countriesthat are gaining wealth are the
UAE at the top of the list, andthe UAE has gained 9,800
millionaires with approximately$63 billion in total assets.
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The US actually is also stillgaining a lot of millionaires,
but more and more people arestarting to leave every year.
But it is worth noting thatpeople do immigrate to the US
still a lot of millionaires.
Uh, it's number two of the listwith 7,500 millionaires and 43.7
billion in total wealth, andthat's fueled by investing
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investor programs.
Some of which have been added inthis new administration and also
lifestyle trends.
And if you look at countrieslike China, for example, which
are, are definitely starting to,starting to lose wealth.
And there's, there's a bunch ofother ones which we'll go into,
but people are going to the USbecause frankly the US still is
a great country for business.
Now, I'm not gonna recommendthat if you're in the US or
Canada, that you stay there, uh,for a lot of reasons and
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especially in, in the uk.
Um, but certainly there's moreopportunity for, uh.
People from places like China orother countries that maybe you
don't have the same level ofopportunity to immigrate to the
us.
Um, now next we have numberthree, uh, which is Italy and
Switzerland.
Pretty much tied.
Italy has about 3,600millionaires that moved, uh, or
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that are moving in 2025.
Switzer Switzerland with 3000.
And, um, they're, they'reciting, uh, things like
lifestyle appeal and favorabletax policies for moving there.
And other hotspots include SaudiArabia, Singapore, Portugal,
Greece, Canada, and Australia.
Now let's talk about the majorlosers.
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So at the top of the list, andthis might not surprise some of
you if you're already kind of inthat expat space or you're
following us or other YouTubers,but the UK now has a record
16,500 millionaires set to leavein 2025.
Which is outpacing losses fromChina at 7,800 and Russia as
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well.
And some of the key factors arethe non dom, uh, regime that
they have in terms of peoplethat are not domiciled in the
uk.
I know non dom sounds likesomething out of the BDSM world
in this case.
It's, it's not, don't worry.
Um, but the, the way that the UKis treating, uh, some of those,
those non dom uh, people whomight not even be living there,
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but they're still having to paytaxes to the uk.
Kind of similar like the us butthe US does give you some, some,
uh, tax advantages as an expat.
Um, but yeah, the non don taxsituation is a mess.
There's also the closure of thetier one investor visa.
And then another thing that, uh,a lot of high net worth
individuals are citing is risinginheritance taxes and rising
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capital gains taxes.
One of the things that I've beennoticing as well that I'll
interject is the fact that itdoesn't seem like the UK really
wants to retain people withmoney.
There's these really weirdimmigration policies both in the
UK and also all over the eu,where they're like, you know,
we're gonna let all these peoplefrom poor countries immigrate
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here.
We're gonna start taxingmillionaires and in some cases,
billionaires more and more topay for all those people.
I'm not gonna get into any crazyconspiracy theories or anything
like that right here, butthere's a lot of this talk
about, you know, why do theywant all these people coming to
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tax well, to, to put, to put atax on the system, right?
To, to just come and take and.
Maybe they're working, maybethey're not, a lot of'em are
not, and they're just, they'retending to be a burden on the
system when we're kind ofshirking away all these mil, uh,
all these, all thesemillionaires and all these
potential investors.
So a lot of high net worthindividuals leaving the UK are
complaining about that.
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But yeah, the UK, in terms ofwealth is the biggest loser, and
I just do not understand whythese governments.
Are wanting to get rid of peoplewith wealth because that's what
their policies are doing.
The UK in 2025 is going to seean estimated loss of$66 billion
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in investible assets accordingto the times.
That's just crazy guys.
Like, what are you doing?
And, uh, the US still is, is netpositive in terms of
millionaires coming there.
But it's getting worse andworse.
And the US is getting harder forpeople maybe that aren't
millionaires, but that are, thatare like upper middle class, um,
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because it's, it's getting moreand more expensive.
And we have clients even from,from the US that have got a
million dollars or a couplemillion dollars in the bank or
in in retirement accounts.
They can't afford to reallyretire anywhere in the US
because of all these policiesand inflation and things like
that.
And they're finding that you cancome to Mexico and with a
million dollars you can easilylive for the last 30 years of
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your life potentially if you, ifyou invest your money, right?
Obviously this is not financialadvice.
Consult your financial advisor,et cetera.
Some of the other EU countriesthat are losing a lot of people
include France, Spain, andGermany.
And they're experiencing net lanet losses for the first time.
Uh, according to Baron's and theTimes and some other, uh, some
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other resources, and China has aproje projected loss of 7,800
high net worth individuals.
Of course, if you're in Chinaand there isn't the same kind of
opportunity unless you'rebuddies with the government.
Uh, and there's also obviouslythe, uh, control of people in a
way that is not done in othercountries.
Uh, socialist policies and, andso many other things.
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A lot of people from China arein fact moving to other
countries, sometimes the uswhich I think a lot of the
Chinese people that are leavingare going to the US and a lot of
'em are also going to placeslike the UAE and there's just
been so many, you know, so manydrivers of, of this shift
overall.
So policy changes in terms oftaxes have been a really big
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driver of this migration ofmillionaires.
Obviously we talked about someof that rising inheritance in
capital gain gains tax in theuk, but also other places in the
world.
And then you look at things likepolitical and economic
stability.
So here in Mexico you have oneof the largest growing middle
classes.
Uh, you have a lot of politicalstability, which, you know,
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people used to say, well, theLatin American region is not
very stable, and all these otherthings.
In some countries that, that'strue.
In Mexico though, it's, it'squite politically stable.
The economy is, is just boominghere.
And you look at places like theUAE, which have zero income tax
or uh, very low income taxdepending on where your income
is coming from.
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They've got stronginfrastructure and they also
have safe regulatoryenvironments.
And I, I don't have too muchexperience with the UAE in
particular.
We're definitely gonna beresearching that as one of the
places maybe eventually we'lldecide to.
To settle down.
Maybe there is somewhere in theMiddle East that we'll go, or
somewhere in Southeast Asia.
We're not sure yet, but we knowin Mexico, uh, we know that here
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in Mexico, for example, if youwanna start a taco stand or a,
or a barber shop or anythinglike that, you can get permits.
Even doing it the right way andgoing through the proper
channels, you can get permitsand sometimes in as little as
three to six weeks.
In the US or the UK or a lot ofother countries, it's taking
months, if not years.
If not, maybe they just say,well, we're full, we can't help
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you.
Versus in Mexico, and we'veheard that in the UAE as well,
it's much easier to establishbusinesses that are a lot more
business friendly.
They're also a lot more smallbusiness friendly.
So people that are, that areentrepreneurs that maybe don't
have a massive company, thatthey're trying to move to
another country, like they'refinding it easier in these
places to be able to innovate.
Even here in Mexico, we have alot of friends that are
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consultants, uh, whether they'reworking for locals here or local
businesses or, or for, uh,clients overseas in the US and
other places.
We have friends that havestarted barbershops,
restaurants, hair salons, allsorts of things like that.
And they've told us.
They were able in a month to getall the permits done.
Uh, everything that needs to getset up is set up and they're
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basically good to go.
That, that just is totallyunheard of in the us.
So some of these implicationsof, of what's happening here are
like, really everybody's talkingabout the UK is this almost
cautionary tale in terms ofwealth migration because loss
effects the sectors of finance,technology, the legal sectors,
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uh, we've.
Seen broader implications too,because when you have this brain
drain of all these wealthyindividuals, these intelligent
individuals leaving this, thesecountries, it really just kind
of causes a, a lot of, ofchallenges in, in society.
You're basically scaring awayall the people that want to work
hard, that want to invest, thatwanna create jobs.
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And I think a lot of countriesaround the world are starting to
see this as a, as a case studyand whatnot.
To do so.
In summary, we've had over142,000 millionaires relocating
in 2025.
The UK is one of the biggestlosers and one of the biggest
winners is the UAE gaining 9,800millionaires in 2025.
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And of course, it's not justabout tax rates, it's not just
about paying less in tax.
Of course, that's an importantdecision for you to make as a
high net worth individual.
You don't want to pay.
All of your money to thegovernment who may or may not
actually be doing anything foryou, right?
You're more likely to becontributing than using
different social services andthings like that.
So if you're a, if you'resomeone with high net worth,
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you're thinking, well, yes, taxis important.
But then the more importantthing I think is really that
economic stability.
That political stability.
We see riots and protests and,and a lot of, a lot of terrorism
and crazy things happening,especially in Western Europe.
Places like the uk, like France,like Germany, because of these
backwards immigration policiesthat they have.
And so the time is now to, tomake that move.
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If you're really seriouslyconsidering, hey, this is not
looking great for us, you know,what do we need to do?
The time is really now, becauseMexico is starting to make
things more and more expensiveevery single year, it's been
going up by 10 to 15% in termsof the requirements.
Now to get permanent residencyin Mexico, this is definitely
achievable for, for people thathave high net worth, which is
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you need about 300,000 or so inthe bank in savings.
Uh, and then a little bit morefor each additional dependent,
like a spouse or children.
But they're starting to increasethese things every year and
every year they're going up,like I said, by 10 or 15%.
So if you're like, you knowwhat, I'll retire in Mexico, but
I'm gonna start the process in10 years, who knows?
Even if you've got a milliondollars in net assets now, maybe
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in 10 years, we actually lookedat the projections and based on
the current trends, they'regonna be requiring over$1.2
million just to immigrate toMexico.
And Mexico is one of the cheapercountries.
So.
Imagine Europe and all theseother countries around the world
that are starting to now getsaturated with these expats
moving there.
If it's something you want to doand you're serious about it, do
it now and go to entrepreneurexpat.com/consult.
(13:02):
Book a call with our team.
We're gonna take a look at yourunique situation, your assets,
uh, who's gonna be coming withyou in terms of family.
What your lifestyle needs anddesires are.
We're not only gonna help youpick the best country to move
to, but we have a team here inMexico and in other countries
around the world that can helpyou actually boots on the
ground, figure out what to dowith immigration.
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We'll get you the appointmentsfor the consulates.
We'll get the visa processedhere.
We'll help you in some cases,even de domicile your business
from a high tax state in the us.
Move it to a different state sothat you can operate that
remotely without having to pay,uh, certain levels of taxes.
We have professional legal,immigration and accounting
partners all over the world thatcan help with that.
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So go to entrepreneurexpat.com/consult.
Book that call now.
The time is absolutely now tomake the move.
Thanks for being the best partof Entrepreneur Expat, and we're
gonna see you again very, verysoon.
Bye for now.