Portugal to gain 1,400 overseas millionaires this year

Portugal continues to attract more and more foreign millionaires and is expected to add another 1,400 ‘high-net-worth individuals’ this year, according to the latest report by the British consultancy Henley & Partners.

This has been a trend in recent years, with Portugal registering a 38% increase in the number of foreign millionaires immigrating to the country between 2014 and 2024, the report points out.

The consultant’s ‘Private Wealth Migration Report 2025‘ shows that the United Arab Emirates is the preferred destination for millionaires who decide to move to another country. This year, an additional 9,800 wealthy individuals, with a combined wealth of US$63Bn, are expected to arrive in the Middle Eastern country.

The US has retained its capacity to attract millionaires, expected to attract 7,500 individuals with a total wealth of €44Bn. Italy, which is expected to attract 3,600 non-resident millionaires, completes the podium.

Also in Europe, Switzerland scores high with 3,000 overseas HNWIs choosing to move there, while Portugal comes in as the 7th most attractive country to relocate, overtaking Greece, Canada, Japan, Monaco and the Netherlands.

In the case of Portugal, the 1,400 new millionaires have a combined wealth of US$8.1Bn.