High net worth individuals (HNWI) are relocating at a faster pace than ever, with migration being driven by ‘deeper concerns’ rather than tax optimisation or luxury living, according to CS Global Partners.

The firm noted that while earlier waves of migration among HNWIs were driven by tax and lifestyle preferences, geopolitical conflict, domestic polarisation, rising crime, climate instability, and weakening institutional trust were becoming greater drivers.

It noted that the data was showing that millionaires were no longer focused solely on where they can grow their wealth the fastest.

Priorities appeared to be shifting towards ensuring that their families remain safe, mobile, and protected against further deteriorating conditions.

CS Global Partners’ World Citizenship Report described the current era as contradictory and uncertain, in which global conflict, inflationary pressure, and political fragmentation had become persistent, rather than temporary, conditions.

Its research found that safety, security and quality of life now outrank financial freedom and global mobility among HNWIs as primary drivers for relocation, signalling a shift that wealth is increasingly defensive rather than expansionary.

This has resulted in Northern and Western Europe continuing to attract HNWIs, with countries such as Switzerland, Denmark, Ireland, Finland and the Netherlands ranking highly across safety, quality of life, and economic resilience.

However, it was smaller states that were emerging as the biggest winners, as a growing preference for politically neutral, well-governed smaller nations that offer stability without exposure was driving the attraction of Caribbean countries including St. Kitts and Nevis, Dominica, and Antigua and Barbuda.

Asia-Pacific destinations such as Singapore, Japan, and New Zealand were also popular destinations.

Safety was no longer purely defined by crime rates, CS Global Partners noted, with several major economies, including the US and UK, ranking lower than expected amid social polarisation and internal political conflict.

“One of the most important findings of the World Citizenship Report 2025 is the redefinition of citizenship itself,” CS Global Partners stated.

“Once viewed as a static legal identity, citizenship is now treated as a strategic asset, a tool for risk management, mobility, and future-proofing wealth.

“The report notes a rise in what it calls ‘investor consciousness’, where HNWIs assess not just economic growth but legal values, governance quality, climate resilience, and international alignment before choosing where to relocate.

“This explains why high-growth economies do not automatically attract long-term wealth if institutional trust is weak.

“Global millionaire relocation is no longer a trend, it is a recalibration of how wealth interacts with the world.

“Safety, stability, and predictability have overtaken growth and status as the dominant drivers of mobility.

“The countries benefiting most are not necessarily the largest or loudest, but those offering credible governance, neutrality, and long-term security."

---