Millionaires Are Leaving The UK In Record Numbers. Here's Where They Are Going.

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V I D E O S    T O    W A T C H    N E X T :

Online Business Tips to Working and Traveling In Mexico: https://www.youtube.com/watch?v=9zGH0voCyOc&list=PLh3xKhkMgH_IA6s3KvB_g9Cc9Ze1eji8j&index=2

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Tips for Moving Overseas: Top 5 Remote Work Skills That Make Money: https://www.youtube.com/watch?v=bFzjCrlNAL8&list=PLh3xKhkMgH_IA6s3KvB_g9Cc9Ze1eji8j

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Episode Transcript

Billionaire Leaves UK (00:36):
If you thought as an American that you
would move to the UK to escapeTrump.
Think again.
The UK is in a downward spiral,and in this video we're gonna
explain what's going on withthat.
In fact, the UK just lostanother one of its top.
Not just millionaires butbillionaires, and we're gonna

(00:56):
tell you who that is and whatthis means for you.
Hi, I'm Justin Keltner and onthis channel Entrepreneur Expat.
We talk about living in thecountry of your dreams, building
the life of your dreams abroad,and building a remote income.
Investing money, having a way tosupport yourself in another
country that is not tied towhere you were born.

(01:20):
If that's something you'reinterested in, make sure to hit
that subscribe button, hit thatnotification bell and help us
out by giving this video a bigthumbs up and sharing it with a
friend that is also looking toescape the US or Canada, or
possibly even the UK to greenerpastures because yes.
The grass is greener on theother side.

(01:43):
It really is.
And I'm not just saying thatbecause we live in a beautiful
little mountain cottage withgreen grass and trees and a lake
all around us.
Although that's one of the perksof living somewhere like Mexico
and not in the UK or in the USor anywhere else.
We've got greenery, we've gotspace.
So I guess literally the grassis a little bit greener here

(02:05):
too.
And there's no snow.
Yeah.
At least not where we are.
So those are, those are coollittle perks.
So if you're interested in that,make sure you subscribe.
And if you've got a milliondollars or more in liquid net.
Assets, and you're looking for apersonalized plan to escape the
west and to build a secondpassport portfolio, or third

(02:27):
passport, fourth passport,whatever it is, build your
portfolio of passports orresidencies in other countries.
We have a team in Mexico.
We're building a team in EasternEurope.
We're building a team in SouthAmerica and Central America.
We have people all over that wecan connect you with as part of
our white glove relocation.
Packages.
So book that call below.

(02:49):
It's completely free.
You just need to qualify.
You can go to entrepreneurxpa.com/consult and get started
from there.
So we were recently chattingwith a potential client who
asked if we could get them helpto go to the uk.
We had to do a little realitycheck though, uh, because there
are a lot of things that aregoing on in the UK that would

(03:09):
not really make sense for a highnet worth individual from the US
or other countries.
To go to.
In fact, the UK is an absolutechaos.
We recently did a video aboutwhere millionaires are migrating
and one of the places wementioned as the biggest loser,
the country that's bleeding outthe most wealthy people.

(03:30):
Due to their tax policies, dueto their immigration and social
policies, and so much more isthe UK Now, another one bites
the dust very recently, and thatone really hurts the UK in
particular.
This is Nikolai Ky, founder ofRevolut which is a company that
you may have heard of as anexpat or an aspiring expat

(03:53):
because you may have used itbefore to transfer money between
countries.
That's Revolut.
That's the service that you canuse to send money from one
country to the other.
So he's the founder he's, he'srecently.
Left and he's gone and moved tothe UAE.
And the reason that he did thatwas because of all of those tax
policies that we're gonna get toin a minute, but it's causing a

(04:16):
PR nightmare for the currentgovernment Who needs to keep
explaining why wealthy peopleare leaving the UK in droves.
Absolutely.
Record numbers of people leavingthe UK now.
So the truth is the UK iscollapsing, and here we're gonna
talk about exactly why.
That is happening.
So over 16,000 millionaires areset to leave the UK in 2025.

(04:41):
Why?
Well, number one is the currentgovernment is removing their non
dom tax program.
Now, that is not anywhere nearas fun as it may seem.
Uh, what non dom means is nondomicile, which is essentially.
If you are not residing in theuk, you don't have to pay taxes.
Well, that's ending.

(05:02):
And it's not great formillionaires and billionaires,
uh, whether they're living inthe uk, even if they just have a
citizenship in the uk, they aregoing to be.
Taxed wherever they are based onthat income.
And they're also significantlyincreasing the tax bill of
wealthy people to the pointwhere they're saying, Cheerio,

(05:24):
I'm out of here.
Don't forget to pack my EnglishTea Winston, and things of that
nature.
So where are all these wealthypeople going?
Well, the UAE and Italycertainly keep coming up as
options for.
Brits.
Italy is actually not considereda very low tax country, but
Italy as well as Greece andother countries in Europe do at

(05:44):
least have these lump sum taxprograms where instead of being
taxed on income and potentiallyeven having a wealth tax applied
against them on all of theirglobal assets, these high net
worth individuals are able topay a lump sum.
Versus in a place like UK beingtaxed on all of the assets that

(06:05):
they have and in addition tothat, the UK is now going to be
starting to apply an exit tax,just like the one that they have
in the United States, where ifyou've got over a couple million
dollars in assets, which is.
Really not that hard to have.
If you're in the US you have ahouse in California that's
already probably creeping up tothe million and a half,$2
million at least.

(06:25):
So if you've got those assetsnow you essentially have to
liquidate all of your assetsjust to leave the country.
The US is already doing it.
The UK looks like it is comingnext, and so people are
scrambling.
People are scrambling to getout.
Wealthy individuals, especiallythe people that have the means
especially, and I just don'treally understand why the UK

(06:47):
decides to be so stupid withtheir policies.
It's just so obvious.
Of course, people with money aregoing to leave when you overtax
them in 2025 because now theyhave options that they did not
have the options.
Of before in prior years.
Even if you look at like 40years ago, there was nowhere to
go where they could actuallylive the same quality of life.

(07:08):
They might be able to live likethey do in the UK or in the us.
Dubai was pretty muchnon-existent.
The UAE was just desert, right?
There were no valid optionswhere they still had the safety
and the quality of life and theshopping and the security where
they would in a more Westernnation, so they just have to
suck it up.
40 years ago, people wouldreally just have nowhere to go,

(07:28):
so they would just have to suckit up.
Now you have a lot of othercompetitive countries all over
the world, so you don't have tobe stuck in one of those
countries, like the uk, like theUnited States, like Australia or
other countries.
We consider the West.
You have so many differentchoices for where you can go and
still have the same, if notsignificantly better quality of

(07:51):
life, and the law itself isstupid.
It's, it's, it's just verysilly.
The way that they're going aboutthings are just very silly.
And it's not just taxes.
The UK is struggling in otherareas as well.
Violence is increasing.
There's a ton of illegalimmigration that's getting
completely out of hand wherethey're letting all of these

(08:12):
illegal immigrants into thecountry and giving them money
and everything else, where atthe same time they got rid of
programs like the investor Visaprogram, which would've brought
capital into the country.
They're now policing thought.
So they're policing speech in away that.
We haven't even seen in theUnited States.
People go to protest, they'rebeing arrested for holding up a
sign with a political ideologythat the government doesn't

(08:35):
agree with, which is in essencepolicing thought.
There are now laws on the booksin the UK where if you make
somebody feel anxious on socialmedia, that is now a crime.
I don't know about you, but tome there is very little
difference between that andthought police.
It's getting worse and worse.
It's getting more and morerestrictive.

(08:56):
It's getting more and moretotalitarian and on top of it
all their stock market performedat its lowest in the last 30
years, just recently.
So the UK is another westerncountry on a downward spiral due
to incompetent leadership andwealthy people who have the
means to get out, do so they'reexercising their right to do so.
Now you really do need to thinkoutside of the box in terms of

(09:17):
where you're going.
Whether you're coming from theUK or somewhere like the US or
Canada.
Stop thinking about the typicalplaces like Western Europe or
the UK or moving to Canada fromthe United States, or vice
versa.
There are a lot of Canadiansright here where we live in the
Lake Chapala area in Mexico,where they do not wanna be in
Canada right now.

(09:38):
And most, if not all of thecountries in Western Europe are
experiencing their own types ofstruggles.
Think about places perhaps incentral or Eastern Europe.
We're, we're putting our eye onAlbania because of their low
taxes, the easy path tocitizenship for foreigners.
The fact that we can ownproperty there and so many other

(09:58):
things.
We're obviously in Latin Americanow.
We're gonna have our Mexicanpassports now in the next couple
years, Latin America isexpanding, not just Mexico, but
places like Uruguay where youcan get a citizenship fairly
quickly as little as three yearsif you are a married.
Couple, and they don't tax anyactive income, and you can get a
tax break from all of yourdividends for up to 11 years.

(10:21):
So those are some of thecountries we recommend.
If you are looking for your ownpersonalized plan to save on
taxes, live a better quality oflife, make your business perform
even better, and all of that,then book a call below with
myself or my team.
You can just go to entrepreneurexpat.com/consult and we can
help you out.

(10:41):
If you have a million dollars ormore in net worth, we can help
you figure out exactly what todo to keep more of that money in
your pocket and protect yourmoney for yourself and your
family as well as to give themthe best opportunity they
possibly can have movingforward.
Why be stuck to a place that isgoing down when you can get on

(11:01):
board a country that maybe isn'texactly.
At the level of somewhere likethe US or Canada or the uk, at
least at the level that perhapsthey were, that they have
achieved in prior years, butmaybe it's not there yet.
Maybe there's economic issuesstill and things that they're
sorting out, but at least it'son an upward trajectory.

(11:22):
And on top of it, they actuallyactively want you there.
Mexico wants wealthy individualsto migrate there.
They love people coming in.
They love expats coming.
Wai wants wealthy people comingthere.
That's why they're setting upfree trade zones where you don't
pay any taxes at all for evenincome generated from Uruguay.
That's why Albania wants wealthyindividuals to go there.

(11:42):
That's why all these countries,even Portugal, even though
Portugal is still in WesternEurope especially, they're,
they're still, okay, come here,invest in our real estate.
But Western Europe, like I said,there's, there's a lot of,
there's a lot of cons there, butat least Portugal is better than
let's say the UK or a lot ofother countries in terms of that
quality of life.
And they're not quite astotalitarian.

(12:04):
It's more of a.
Se La Vie kind of thing.
But I would still prefer LatinAmerica or Central or Eastern
Europe any day over Portugal,over the uk, over France, over
Germany.
You don't want to be in thisfalling empire, whether that's
the US or the UK, or anywhereelse.
So book that [e-mail]

(12:24):
slash consult.
We can help you.
We can help your family.
If you're not ready to move yet,no problem at all, but at least
you've got that plan B in yourback pocket so that when things
really do hit the fan, when lifegets even more intolerable, when
the UK implements an exit tax.
Ideally before you can get outtathere with your dignity and your
pocketbook intact.

(12:46):
That's what we're here to helpyou do.
Make sure you check out theresources below this video as
well, and we really appreciateyou being the best part of
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Thanks again and see you againsoon.