Australia remains preferred destination for millionaire migrants
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- June 30, 2018
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According to the 2018 Global Wealth Migration Review (published by the AfrAsia Bank this month) Australia remains for the third consecutive year the most popular destination for the wealthier international migrants, due to its safe environment, politically stable climate and especially due to the lack of inheritance taxes.
Also the proximity to Asia makes Australia a preferred base when it comes to practicality of doing business in China and Japan.
This annual study conducted by international bankers found that about 10,000 millionaires migrated to Australia in 2017, most of which were moving from China, India and UK.
Not surprisingly, global wealth migration is accelerating. The overall number of wealthy migrants increased by 15% compared to the previous year.
The report finds that Australia was the top country worldwide for HNWI inflows in 2017.
The same report ranks Australia as the fifth wealthiest country per capita on the globe, with the average personal wealth of US$279,000. The average global personal wealth was determined to be US$28,400.
These figures are a strong indicator that investor and business visa programs are becoming increasingly popular.
The LH Global team includes consultants with an extensive experience and exposure in the business and investment migration programs.
Whether you are looking to Invest, Study, Work, Visit or Retire in Australia, LH Global can offer a seamless experience for you. Contact your nearest office to enquire further.