A significant wave of German millionaires is considering relocation to the UAE amid growing political tensions and economic uncertainty in Europe, according to a new survey by global investor migration consultancy Arton Capital.
This trend comes as the Emirates continues its historic rise in global passport power rankings, having recently broken into the world’s top 10 most powerful passports—the first Arab nation to achieve this milestone.
The survey, which polled 1,000 German residents with a net worth of at least €1 million ($1.08 million), reveals that 37 per cent of German high-net-worth individuals (HNWIs) are now more likely to consider emigration following the recent federal election, with the UAE emerging as a key destination for the wealthy seeking new opportunities.
The findings align with observations from industry experts who noted in interviews with Arabian Business a marked increase in Germans exploring second citizenship options in recent months.
While Canada tops the list of preferred destinations at 29 per cent, followed by Australia (22 per cent) and the United States (16 per cent), the UAE has secured the seventh position with 11 per cent of millionaires expressing interest in relocating to the Emirates — signalling a potential influx of significant wealth to the region. Dubai already hosts over 200 centi-millionaires, placing it among the world’s top 15 cities for ultra-high-net-worth residents according to recent wealth reports.
“German millionaires have the potential to bring an enormous amount of revenue to the UAE,” Armand Arton, CEO of Arton Capital, told Arabian Business.
“The country is incredibly attractive for European expats thanks to its luxurious lifestyle, abundant business opportunities, and world-class infrastructure.”
The survey highlights a broader trend of wealthy Europeans seeking alternatives outside the continent. “Our previous surveys demonstrated that 27 per cent of British millionaires and 6 per cent of French millionaires were also considering the UAE following their respective elections. It’s clear the region is increasingly luring affluent Europeans away from the continent,” Arton noted.
This aligns with Henley & Partners’ projections that 2025 will witness the most significant wealth migration wave ever documented, with 142,000 high-net-worth individuals expected to relocate globally.
Political polarisation driving exodus
The potential exodus comes amid heightened political polarisation in Germany. Immigration concerns (47 per cent) and the rise of the far right (42 per cent) emerged as the primary factors motivating wealthy Germans to consider leaving, according to the survey. Economic factors also play a significant role, with 31 per cent citing concerns about declining quality of life, 30 per cent worried about increased taxes for HNWIs, and 26 per cent lamenting a poor business environment.
“Both political and economic grievances have contributed toward this gloomy sentiment,” Arton explained. “Immigration was cited as a main driver for millionaires wishing to leave, with 47 per cent of respondents noting that this was a considerable concern.”
Jeffrey Hensler, CEO of Passport Legacy, confirmed this trend in a recent interview with Arabian Business.
“In the past, especially in Germany… I mean, that is really a culture that failed massively,” Hensler noted. “We have therefore seen a lot of applications coming from there.”
He pointed to deeper societal issues, including safety concerns: “If you cannot even let your kids anymore go to school without protection—this is not what Europe was about 20 years ago.”
Particularly telling is the sentiment regarding Europe’s economic outlook, with one in four German millionaires expressing a lack of confidence.
“Despite the country’s robust economy and its central role in the EU, with seismic internal and external political shifts underway, many German millionaires are unsure if they want to weather the storm in Europe,” Arton added.
“In the last 18 months, 2 million illegal immigrants came into Germany. Imagine that,” Hensler told Arabian Business in January, highlighting what many wealthy Germans view as a deteriorating situation. “It needs a right shift in order for this to happen, apparently. It will take years to fix that problem.”
UAE Golden visas, safe haven for cash, more
For those considering relocation, the UAE offers distinct advantages over traditional wealth havens.
“Dubai distinguishes itself from the traditional wealth havens of Switzerland and Singapore by offering fast-track residency through the Golden Visa program,” Arton said. This assessment echoes Hensler’s observation that “the UAE has very little competition” in attracting global wealth.
“The UAE also more broadly actively attracts wealthy individuals with cutting-edge infrastructure, high-end real estate, and strategic location advantages, bridging Europe, Asia, and Africa.
“Furthermore, a stable government, favourable taxation regime, and a growing expat millionaire community make Dubai a top choice for German HNWIs seeking improved global mobility.”
German millionaires interested in the UAE primarily come from healthcare, real estate, and financial services sectors, according to the survey. Arton Capital reports a “significantly high volume of inquiries” from Germans exploring their options for second citizenship or residency.
Global Golden Visa appeal on the rise
The survey found overwhelming support for residency-by-investment programmes, with 88 per cent of German millionaires expressing interest in accessing Golden Visas or citizenship by investment programmes.
“Wealthy Germans are clearly feeling fatigued by the state of politics at home, and are looking elsewhere for a ‘plan B’,” Arton said.
This trend coincides with the UAE’s rising global mobility power, having secured access to an additional 72 destinations worldwide since 2015. The Emirates is now the only Arab nation in the Henley Passport Index’s top tier, with visa-free access to 185 destinations globally—a remarkable achievement for a country that barely registered on global mobility rankings just a few decades ago.
“The global race to attract HNWIs is heating up. From our research into HNWI sentiment in the UK, France, and now Germany, there is a clear demand for alternative citizenship options from Europe’s wealthiest,” he added.
This trend extends beyond Germany. This comes as polarising election results have been seen in the UK, France, and the United States as well.
“Millionaires are on the move, seeking mobility, security, and lifestyle benefits that a second residency or citizenship offers,” Arton added.
The shift is particularly notable in contrast to declining passport power elsewhere. The UK passport has fallen from first place in 2015 to fifth today, while the US has dropped seven places from second to ninth over the past decade. These changes reflect what experts describe as fundamental shifts in global mobility hierarchies and wealth migration patterns.
Global competition for wealth migration
The potential migration of German wealth comes amid intensifying global competition for affluent individuals. The United States recently announced a new $5 million “Gold Card” initiative under the Trump administration to replace the existing EB-5 investor visa programme.
“The biggest news in the wealth migration industry is coming out of the USA,” Arton said.
US president Donald Trump last week announced the launch of a $5 million ‘Gold Card’ to replace the EB-5 visa currently available to investors. While there isn’t much information available about this visa at present, “it’s clear the [Trump] administration wants to capitalise on this wealth exodus that is sweeping the globe,” said Arton.
As European nations reform or close their investment migration programmes, Arton sees the US initiative as “a vote of confidence in their enduring ability to attract vital foreign investment.”
For the UAE, which has consistently enhanced its appeal to global investors through initiatives like the Golden Visa programme and favourable tax policies, the potential influx of German millionaires represents both an opportunity and a validation of its strategy to position itself as a premier global destination for wealth and talent.
“The UAE is a big profiter among all of that, and rightly so,” Hensler said, “because they do it correctly. They have a very strict law and rules… If you want to work, if you want to have a great job and a great life, and if you want to make money, you’re welcomed here with open arms. But Europe has a different thinking for the last 15 years, and that bites them massively now.”
“Competition for the investment these HNWIs bring to their new host countries will only intensify as countries look to make their propositions as attractive as possible,” Arton added.
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