The Great Millionaire Migration: Why Australia is the Top Destination for High Net Worth Individuals

Thousands of millionaires migrate from their home countries every year, and many choose Australia.

Reportedly, we’ve received over 10,000 millionaire migrants yearly since 2015, courtesy of Australia being seen as THE place to start a family, a business, and an estate.

The factors contributing to our great millionaire migration include:

  • Australia’s lack of inheritance tax
  • A clean environment
  • Strong business ties to Asia
  • Low crime rates
  • And first-class healthcare and education systems.

For high net worth immigrants fleeing nations like Russia, Britain, and Turkey, Australia is also an economic ‘safe haven.’ In contrast to the ongoing economic uncertainties these countries face, our economy has thankfully remained relatively stable and healthy.

And while our immigration laws are strict, the Australian government has been subtly encouraging millionaires to choose Australia over other high ranking destinations like the USA and Canada.

Among these incentives are several visa options, including a Business Innovation and Investment visa and the Golden Investment visa, both offering pathways to permanent residency in exchange for investing in Australian businesses.

With Australia being so inviting for millionaire migrants, it’s no wonder so many of them choose to settle here.