08.04.2026, 06:22
The British rich began migrating from Dubai
Source: OREANDA-NEWS
OREANDA-NEWS Wealthy British citizens, who have been moving en masse to Dubai for permanent residence in recent years, have now begun migrating to a new location due to Iran's strikes in the UAE, provoked by the conflict in the region. Their decision was also influenced by the tightening of tax rules in Britain, The Guardian reports.
Milan has become the new city that the British rich have chosen to live in. Migration there began after February 28, when the military operation of Israel and the United States against Iran began. Then the United Arab Emirates lost its status as a safe haven for the global elite.
At the same time, the British authorities abolished the system that allowed foreigners to avoid paying taxes on foreign income. As a result, life in Dubai has become dangerous, and in London it has become unprofitable.
"Italy offers the best conditions: a fixed tax and a high quality of life," said Armand Arton, a consultant who helps multimillionaires and billionaires change their place of residence through investment programs.
Italy has a flat tax regime for new residents who have not paid taxes in the country for at least nine of the last ten years. They need to contribute a fixed amount (300 thousand euros per year) for all income abroad. Taxes should be paid only on income in the country of residence and on capital gains from investments during the five years of operation under this scheme.
The Italian tax proposal has even been dubbed the "evacuation from London." "Italy is a wonderful country, Milan has a deep financial sector, and Milan has many of the things that make London attractive," said Mark Acheson of Utmost Wealth Solutions.
In November 2025, before the outbreak of conflict in the Middle East, Dubai overtook New York and took first place in the list of the best cities for millionaires. Its attractiveness was explained by the possibility of obtaining a "golden visa", the absence of taxes on inheritance and capital gains, a well-developed infrastructure and a high level of security.
Milan has become the new city that the British rich have chosen to live in. Migration there began after February 28, when the military operation of Israel and the United States against Iran began. Then the United Arab Emirates lost its status as a safe haven for the global elite.
At the same time, the British authorities abolished the system that allowed foreigners to avoid paying taxes on foreign income. As a result, life in Dubai has become dangerous, and in London it has become unprofitable.
"Italy offers the best conditions: a fixed tax and a high quality of life," said Armand Arton, a consultant who helps multimillionaires and billionaires change their place of residence through investment programs.
Italy has a flat tax regime for new residents who have not paid taxes in the country for at least nine of the last ten years. They need to contribute a fixed amount (300 thousand euros per year) for all income abroad. Taxes should be paid only on income in the country of residence and on capital gains from investments during the five years of operation under this scheme.
The Italian tax proposal has even been dubbed the "evacuation from London." "Italy is a wonderful country, Milan has a deep financial sector, and Milan has many of the things that make London attractive," said Mark Acheson of Utmost Wealth Solutions.
In November 2025, before the outbreak of conflict in the Middle East, Dubai overtook New York and took first place in the list of the best cities for millionaires. Its attractiveness was explained by the possibility of obtaining a "golden visa", the absence of taxes on inheritance and capital gains, a well-developed infrastructure and a high level of security.
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