Dubai has become a global management for wealthy ex-pats, drawing high-net-worth individuals at an unprecedented rate. The city, to date, has become home to about 210 individuals worth more than 100 million dollars and 15 billionaires.

With this, the city is expected to see a surge in millionaire migration in the coming months. More Dubai millionaires are settling and solidifying their position in the financial capital of the Middle East.

If you’ve noticed more ultra-wealthy individuals setting up homes in the UAE, you’re not imagining things. More and more millionaires in Dubai have increased, projecting a 39% rise by 2026. This influx of millionaires has also escalated the demand for the ultra-luxury real estate market.

Dubai Leads Global Millionaire Migration in 2024-2025

If you are wondering how many millionaires are in Dubai? According to the Henley & Partners Private Wealth Migration Report 2024, it was expected to drive 6700 high net worth individuals, also called HNWIs, by the end of 2024.

This has marked 2024 as the third consecutive year to top the global wealth migration ranking.

The trend is carried forward for the year 2025, with Dubai projected to attract 8200 millionaires, outpacing the US, which is expecting only 3200 HNWIs.

Why Millionaires Are Moving to Dubai

1. A Tax Haven That Lets You Keep Your Wealth

One of Dubai’s most compelling advantages is zero tax on personal income. For investors as well as entrepreneurs, this highly luxurious nation is far away from any taxes. Dubai the city provides an unparalleled opportunity to retain wealthy investors who can think of reinvesting rather than surrender their money in lumpsum taxes. This is the reason why Dubai billionaires keep growing in numbers.

2. Luxurious Lifestyle Never Seen Before

This city is already known as a synonym for ultra-luxury living. From the opulent Palm Jumeirah beachfront mansions to the Emirates Hills luxury lifestyle, there are exciting places to invest your money. In fact, in Dubai, you will also find Michelin-starred restaurants, the city caters to those seeking the finest experiences. This is the reason why Dubai millionaires continue to rise, and the numbers are growing at an exponential rate.

3. Long-Term Residency Program

The Dubai Golden Visa and Green Visa provide long-term residency options for investors and high-net-worth individuals, making it easier for them to establish a permanent base in the UAE.

4. Dubai Real Estate is Booming In 2024 alone, HNWIs in Dubai were projected to invest AED 16 Billion into the property market of the city. If we see the current market trend and an estimate approximately, the figure is about to reach AED 20 billion in 2025.

• Demand for premium properties in premium areas is growing, like Palm Jumeirah, Emirates Hills, Jumeirah Islands and so on.

• Chinese investors have increased their real estate investment in Dubai by 130% since 2021

• Russian investors now make up 6% of all UAE investors, compared to less than 2% previously.

• Egyptians are also emerging as a rising force in the property market of the city with a 150% increase compared to 2024

5. World Class Infrastructure

Dubai is in the talking for its reputation, for its safety, modern infrastructure, futuristic projects, high-quality healthcare and lifestyle. It has indeed become a top choice for the wealthiest individuals from around the globe to live here for elite living.

The government is also focusing on smart and sustainable homes, with smart initiatives along with a Blue Residency Visa to enhance its appeals.

Millionaires in Dubai are Increasing than Ever

Dubai is no longer just a global business hub, this city has become the ultimate wealth destination. With its zero-tax policies, world-class amenities, luxury lifestyle, investor-friendly environment, and high-end real estate opportunities, it’s clear why Dubai millionaires and billionaires are increasing at record levels. If trends continue, 2025 could set new records for Dubai millionaires, solidifying the city’s status as the world's leading wealth hub.