The very wealthy are on the move. According to New York-based international law, firm Fragomen, Del Rey, Bernsen & Loewy, which specializes in immigration services, the last ten years have seen the largest inflows and outflows of high net worth individuals (HNWI) relocating in history. In the last decade 11,000 HNWI left Switzerland, 14,000 left Russia, 32,000 left France, 43,000 left India and a huge 76,000 exited China. Many will keep assets and property in their home countries, yet most will buy real estate and set up bank accounts in their new locations, according to Fragomen.
Where did these HNWI move? Over the same period, 212,000 relocating households and their destinations were identified by Fragomen. About 14,000 HNWI relocated to Canada, 20,000 to Hong Kong, 22,000 to Australia, 42,000 to the USA and an impressive 114,000 to the UK. The remaining 36,000 went elsewhere in the world.