UAE among top 10 countries attracting German millionaires in 2025

Image Source – Pranjal Srivastava (Prexel)

Why German Millionaires Are Relocating to UAE

According to a new survey, the UAE was ranked seventh out of the top 10 destinations where German millionaires plan to relocate in the next 12 months. The study by Arton Capital surveyed 1,000 German millionaires aged 18-70 between February 24 and March 3, 2025. The respondents were mostly High-Net-Worth Individuals (HNWIs) with a net worth of €1 million, while 18% had a net worth of over €5 million in assets. 

The slowing German economy, high taxes, and the rise of far-right parties in European countries were the major reasons for German millionaires to relocate abroad. The UAE ranked seventh on the list, with 11% of HNWIs considering the country a preferred destination. The other top six countries included Canada, Australia, the US, New Zealand, Spain, and the Netherlands. 

The UAE – Best Country for Expats to Live, Work & Invest Globally. 

The decision to relocate to the UAE was based on the country’s safety, security, zero income tax, and high returns in the real estate sector. Over the past five years, the UAE has become an increasingly attractive destination for German investors, and 11% of German millionaires are considering the country as a second home or residence. According to Armand Arton (CEO of Arton Capital), Germany’s struggling economy, which is yet to fully recover from the COVID-19 pandemic, rising cost of doing business, and surging energy prices resulting from the Ukraine-Russia war were major factors to consider other countries. 

Meanwhile, German millionaires are relocating to the UAE due to its stability and offering a high level of safety, which is a major concern for wealthy individuals in Europe. The UAE also presents lucrative investment opportunities in the real estate market and promises strong economic growth for 2025 and beyond. In addition, the lack of personal income tax makes the UAE a more favorable destination and is considered a key factor in attracting Germans to the country.

Germany and UAE: Strong Economic and Trade Partnership

It is to be noted that Germany remains the UAE’s most important economic partner, with non-oil trade between the two nations reaching €12.8 billion in 2024—an increase of 5.4% from the previous year and nearly double the global trade growth average. Within the European Union (EU), Germany is the UAE’s second-largest trading partner and ranks 13th globally, highlighting the resilience of their long-standing economic ties and the consistent growth of bilateral trade. Both countries are now seeking to explore new opportunities for collaboration in renewable energy, Industry 4.0, industrial technology, logistics, and advanced manufacturing.

Europe-UAE Economic Growth is Unlocking Opportunities for European SMEs

The Europe-UAE economic ties create new opportunities for European SMEs in the UAE. The collaboration between the European Union (EU) and the UAE continues to strengthen economic relations, driven by strategic partnerships, trade agreements, and investment initiatives. The EU remains the second-largest global trade partner of the UAE, with non-oil trade reaching €62.5 billion in 2024, marking a 3.6% increase from 2023 and a rise of 18.1% from 2022. Likewise, the EU’s contribution to the total non-oil foreign trade of the UAE now accounts for 8.3%. Within the EU, Germany is the UAE’s second-largest trading partner with non-oil trade reaching €12.8 billion in 2024, an increase of 5.4% from 2023.

As a top market research company in the UAE, we assist European brands and investors in successfully expanding their businesses in the region. Having been based in Germany for over three years, I would be happy to schedule a call to discuss further. Feel free to reach out at waqas@researchkonnection.com or +4915781715160.