FASTEST-GROWING MILLIONAIRE HUB IN THE REGION

A country in the Balkans has become the world’s fastest-growing hub for millionaires, while Switzerland, the United States (US) and the United Arab Emirates (UAE) continue to attract a share of the wealthy.

PHOTO: SeeSrpska

According to data from Swiss company Henley & Partners, the number of millionaires who moved to live in this country increased by as much as 124 percent last year, Klix.ba reports.

Currently, 2,800 millionaires reside there – far fewer than in some other nations – but the country continues to attract the rich thanks to its investment-for-citizenship program, also known as the “golden passport.”

Dominik Volek of Henley & Partners noted that the country is becoming more appealing due to its proximity to Western Europe and fiscal flexibility.

“The low taxes, with a flat income tax rate and no inheritance or gift taxes, have made it particularly attractive for wealth storage. Combined with its Adriatic coastline, luxury real estate offerings, and appealing Mediterranean lifestyle, the country has become a top choice for investors,” Volek said.

In addition to this nation, the number of wealthy individuals who immigrated last year also increased in Malta, Poland, China, Costa Rica, India, and Latvia. On the other hand, the largest outflow of millionaires was recorded in the United Kingdom, China, India, South Korea, Russia, Brazil, France, Spain, and Germany, according to the business magazine Fortune.