Safe Haven for Millionaires, Mauritius among the Top 8

In a recent report on wealth migration by Henley & Partners, Mauritius has emerged as one of the top eight countries globally where millionaires are flocking to seek refuge.

Joining the ranks of established wealth havens such as Australia, Switzerland, Singapore, the United Arab Emirates, New Zealand, Malta, and Monaco, Mauritius has become an attractive destination for high-net-worth individuals seeking safety, security, and investment opportunities.

According to the report, these countries have successfully attracted wealthy individuals by offering a unique combination of stability, prosperity, and quality of life.

The report highlighted that all of these countries are expected to witness a net inflow of over 200 millionaires in 2024.

Mauritius has witnessed an impressive 87% surge in millionaires over the past decade, making it the fastest-growing wealth market in Africa and the third-fastest growing globally.

Its status as the only African country on the list has made it an increasingly popular destination for relocating millionaires from South Africa, the UK, and France.

So, what draws millionaires to these safe haven countries? According to experts, the primary reasons include:

1. High levels of safety and security: Millionaires seek countries with low crime rates and political stability to ensure their assets and families are protected.
2. Well-developed banking and wealth management systems: These countries offer sophisticated banking systems that cater to the needs of high-net-worth individuals, providing them with secure and efficient ways to manage their wealth.
3. Solid bases for investing in global stock markets: Millionaires require access to international investment opportunities, which these countries offer through well-established stock exchanges and financial institutions.

Popular retirement destinations like Mauritius, Australia, and Malta are particularly attractive due to their:

1. Top-class healthcare systems: These countries offer world-class medical facilities and healthcare services, providing peace of mind for individuals seeking a comfortable retirement.
2. High standards of living: Millionaires can enjoy a luxurious lifestyle with access to modern amenities, good education systems, and a pleasant climate.

Mauritius has solidified its position as a safe haven for millionaires, offering a unique combination of safety, security, and investment opportunities. Its growth prospects are promising, making it an attractive destination for high-net-worth individuals seeking a peaceful and prosperous life.

Source: Business Insider Africa