2,500 wealthy immigrants moving to Israel this year – report

2,500 high-net wealth individuals will move to Israel in 2022, up 79% from 2019, according to a report by Henley & Partners, which advises on residence and citizenship by investment. The latest Henley Global Citizens Report entitled “Millionaires are on the Move Again” notes that, “A tsunami of private capital has left Russia and the Ukraine.”

In an accompanying article entitled “The Geopolitics of Wealth Migration,” author Misha Glenny writes, “Affluent Russians seeking to escape the impact of the devastating Western sanctions on their country have started to move to the UAE and to Israel, which is 4th in the top 10 list with an influx of 2,500 high-net-worth individuals, in large numbers.”

As he mentions, Israel is ranked fourth in attracting high wealth individuals this year after the UAE, Australia and Singapore but ahead of Switzerland, the US, Portugal, Greece, Canada and New Zealand. The 10 countries where the highest net outflows of wealthy individuals are Russia, China, India, Hong Kong, Ukraine, Brazil, the UK, Mexico, Saudi Arabia, and Indonesia.

The report quotes Andrew Amoils, Head of Research at New World Wealth who says high-net worth indivdual migration figures are an excellent barometer for the health of an economy. “Affluent individuals are extremely mobile, and their movements can provide an early warning signal into future country trends. Countries that draw wealthy individuals and families to migrate to their shores tend to be robust, with low crime rates, competitive tax rates, and attractive business opportunities.”

Published by Globes, Israel business news – en.globes.co.il – on June 15, 2022.

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