The global rich are moving in search of lower taxes
As part of the great millionaire migration, a record 128,000 are expected to relocate this year, the consequence of a global realignment of how the wealthy are taxed.
Europe’s multimillionaires are restless. In the UK, the new Labour government’s decision to axe a non-domiciled tax regime that benefited wealthy foreigners has led to a flood of reported relocations.
In France, the lack of political clarity following snap parliamentary elections in July, which left an alliance of left-wing parties as the largest bloc, has prompted many wealthy people to make contingency plans to leave should a divisive wealth tax be reinstated.
