An increasing number of wealthy individuals in the United Kingdom are considering leaving the country and acquiring an alternative citizenship, according to the latest World Citizenship Report.
The report reveals that 42% of high-net-worth individuals (HNWIs) in the UK cite concerns over government stability and inconsistent tax policies as the main reasons for contemplating relocation.
The report highlights that recent tax reforms, particularly the abolition of the non-domicile (non-dom) regime and changes to inheritance tax rules, have significantly influenced public sentiment. Under the previous non-dom framework, affluent foreign residents could largely shield their overseas income from UK taxation as long as those funds remained outside the country. With those protections now removed, many wealthy residents are reassessing their long-term plans.
Published annually by CS Global Partners, a London-based government advisory firm, the World Citizenship Report quotes Richard Montague, Private Wealth Partner at BDO, who attributes the growing trend to years of frequent policy changes.
According to Montague, many ultra-high-net-worth individuals are experiencing “change fatigue”, a sense of frustration stemming from ongoing tax reforms, recurring speculation ahead of government budgets, and uncertainty about future policy direction. This ongoing instability, he argues, is prompting many to explore opportunities elsewhere.
Findings of WCR for UK’s HNWIs seeking alternative citizenship
Notably, the report found that tax rates themselves are not the primary concern. Only 18% of those considering departure identified lower tax rates as their most important tax-related priority. Instead, many wealthy individuals are seeking predictability and a stable long-term framework.
Montague emphasised that affluent families typically plan their finances across generations rather than political cycles. Frequent tax rule changes make long-term wealth preservation and succession planning increasingly difficult. He suggested that the UK government could improve confidence by introducing a multi-year roadmap for personal taxation, similar to the forward-looking tax strategies already provided to businesses.
The report also recommends several targeted reforms that would not require sweeping policy changes. These include extending the period before new arrivals are taxed on their worldwide income beyond the current four-year window and providing greater clarity around the treatment of overseas family trusts.
According to the WCR 2026, such measures could help restore confidence among global investors and wealthy families. The report argues that the UK retains many advantages that continue to attract ultra-high-net-worth individuals, but policy certainty will be crucial to maintaining its appeal.
Montague concluded that with a proactive, long-term tax strategy and stronger government efforts to promote the UK’s strengths, the country could once again establish itself as a leading destination for global wealth.
While Britain’s wealthy residents have not yet left in large numbers, the report warns that their patience is wearing thin. Predictability, it suggests, may be the government’s most effective tool for retaining high-net-worth individuals in the years ahead.
