UAE Wealth Inflows Hold Firm Despite Regional War

Key Points

1. Regional conflict has not triggered broad wealth departures, as private banks report established capital remaining stable in the UAE.
2. About 9,800 millionaires moved there in 2025, supported by tax, residency, security and global-connectivity advantages.
3. Banks are expanding teams and facilities, reinforcing the UAE’s role as a global wealth-management centre.

The latest

Regional war has tested Gulf investor confidence without reversing the UAE’s inflow of wealthy individuals and capital, private bankers say. Established wealth is largely remaining in the country, while new high-net-worth clients continue to consider it a long-term base. Around 9,800 millionaires relocated to the UAE in 2025, based on figures from Henley & Partners and New World Wealth, although the conflict with Iran may have led some prospective residents to reconsider planned moves. HSBC’s Aladdin Hangari said “established wealth is stable,” with little evidence of a broad reversal.

Details

• Structural appeal: Hangari, HSBC’s global head of private banking for the Middle East and North Africa, said stability, personal security, a clear tax and residency framework, and global connectivity remain structural attractions. The absence of personal income tax and developed financial infrastructure further support the UAE’s position as an international wealth hub.
• Residency routes: Government programmes include the 10-year Golden Visa, retirement residency and remote-work permits, widening the routes for people to establish long-term ties. For wealthy families, relocating residences and businesses, educating children and forming financial relationships create commitments extending beyond short-term market volatility.
• Global gateways: Dubai and Abu Dhabi connect Europe, Asia and Africa through their airports and financial centres, including the Dubai International Financial Centre and Abu Dhabi Global Market. In Savills’ HNWI Hotspot Index, Dubai ranked first and Abu Dhabi fifth among destinations for wealthy entrepreneurs and investors.
• Property demand: Three beachfront plots on an exclusive Dubai island reportedly sold for a combined Dh1 billion ($272 million) from April through June. The transactions suggested continued appetite for prime assets despite the geopolitical shock, alongside enduring demand from international investors.
• Bank expansion: HSBC opened a dedicated wealth centre in Dubai and is expanding its regional wealth-management operation. DBS plans to grow its UAE private-banking team above 30 employees over two years, from about 10 when the current expansion began. Barclays also reports continued interest from families and entrepreneurs seeking international connectivity, regulatory infrastructure and regional opportunities.
• Family office focus: Julius Baer said wealthy clients remain focused on preserving wealth, succession planning and future investments rather than significantly reducing regional exposure. Barclays UAE chief Farzad Billimoria said clients increasingly treat the country as a strategic choice, not a short-term reaction to market conditions.

Between the lines

The resilience reflects “sticky wealth”: families and capital already rooted in the UAE appear reluctant to leave, while banks keep building capacity for new clients. That pattern advances the country’s ambition to link wealth from Europe, Asia, Africa and the Middle East through a global management centre.

What’s next

DBS’s planned increase in its UAE private-banking team over the next two years provides the clearest indicator. Progress toward more than 30 employees will show whether international banks continue committing capacity despite regional conflict.