Name: Where the World’s Rich Are Moving Their Money
Uploaded: 2026-03-22T17:33:13.000Z
Duration: 4 min 37 s
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For decades, the world's wealthy operated by a simple rule:

Adverbs of manner

These hubs have classically included the likes of Switzerland, the US, Hong Kong, and Singapore.

Hong Kong's capital market has been very active recently.

For Singapore, it's obvious there's a strong rule of law, that's political stability.

They want to conduct businesses in a place where the legal system is very clear.

From the turn of the century, other fast-rising hubs began attracting the super-rich as residents, including Abu Dhabi, Riyadh, Milan, and Dubai.

Dubai has always been seen as an emerging and promising wealth hub.

It has very friendly features in terms of attracting wealth.

So it's very internationally connected, it has very high tax efficiency.

But the wealthy are no longer relying on one place to live, invest, and do business.

The one-hub model is giving way to something more strategic.

High net worth individuals are thinking twice because they may not want to put their money⏤all their eggs⏤in a single basket.

And they are more thinking of diversification now.

Wealthy people know very well the concept of having an investment portfolio.

If you're a high net worth individual, you don't have all your money or all your wealth sitting in only one asset class.

Just having one country of citizenship and residence means you are also limiting yourself to that jurisdiction and whatever risks that may present.

They are understanding a lot more (of) the benefits of actually being more diversified in terms of their sovereign portfolio.

In a blog post, Volek explains that the ultra wealthy are no longer just looking for returns.

They are seeking resilience through so-called "geographic arbitrage".

Think of a sovereign portfolio as a safety net and opportunity engine, but built on residences and citizenship instead of stocks and bonds.

You know, there's nothing stopping a high net worth individual from getting residence in Costa Rica, residence or citizenship in Europe,

perhaps a golden visa here in the UAE, next to having residence or citizenship somewhere in Asia.

That's what these families are doing as an optionality play or an insurance policy more than anything else.

That diversification is showing up in hard numbers.

A survey by global asset servicer Ocorian found that 60% of their family offices have opened more offices in different jurisdictions over the past five years.

And around 40% of them now have four or more physical locations worldwide.

Part of it is share portfolio complexity.

Alternatives like private equity, private credit, real estate, infrastructure now make up 42% of the average family office portfolio, according to BlackRock's 2025 Global Family Office Report.

Assets that complex don't sit neatly in one place.

For wealthy families, usually they will have set up in multiple locations, right?

You know, moving assets around jurisdictions are not very difficult; it's more like how the structure should be arranged.

Regulatory change is accelerating it further.

For example, when the UK replaced its century-old non-domiciled tax regime with a residence-based system last year, the reaction was swift.

Henley & Partners projected the UK would lose around 16,500 millionaires in 2025, taking roughly 88 billion dollars in wealth with them in a single year.

And then there's geopolitics⏤no longer a background concern.

Goldman Sachs found that 61% of family offices now cite geopolitical conflict as a primary risk to their portfolios.

We have seen upside in terms of a shift in mindset, where clients are actually thinking of where they are looking to have upside and efficiency.

And you have seen the narrative change towards one where⏤I want somewhere that is resilient, I want somewhere where it's safe.

When you park your wealth in a jurisdiction, you want capital preservation, right?

So, in terms of wealth domicile, you typically want somewhere where it's very safe and where you think you can grow your wealth in a jurisdiction.

The clients actually are thinking about how the structure should be arranged across jurisdictions so they can have the flexibility, which is a more strategic decision rather than a quick reaction.

It's not about Dubai versus Hong Kong and Singapore.

For the business owners, they are more likely thinking about which hubs play what roles.