Cyprus is set to attract 250 foreign millionaires in 2025, bringing with them an estimated $2.6 billion in investable wealth, according to the latest Henley Private Wealth Migration Report 2025. The report, published by international investment migration consultancy Henley & Partners, places Cyprus among Europe’s rising wealth migration destinations amid a historic global reshuffling of affluent individuals.

The island’s net gain in millionaires contributes to a broader trend that has seen Cyprus’s population of high-net-worth individuals (HNWIs) grow by 33% between 2004 and 2024. This growth, fueled by strategic tax incentives, lifestyle appeal, and EU membership, now positions Cyprus alongside countries like Greece, Portugal, and Italy, which are reaping the benefits of relocating millionaires seeking economic stability, personal freedom, and business opportunities.

Globally, 2025 is projected to be a record-breaking year for millionaire migration, with 142,000 HNWIs expected to relocate — more than any other year since tracking began. Leading this shift is the United Arab Emirates, with a forecasted net inflow of 9,800 millionaires, followed by the United States (+7,500) and Switzerland (+3,000).

In Europe, Southern destinations are seeing growing appeal. Italy is set to attract 3,600 millionaires, Portugal 1,400, and Greece 1,200. These inflows contrast starkly with anticipated outflows from traditional wealth hubs such as the UK (–16,500), France (–800), Spain (–500), and Germany (–400), where political instability, tax reforms, and perceptions of economic decline are prompting an exodus.

Cyprus, while not among the top 10 in absolute terms, punches above its weight in relative growth.