Asia Millionaire Migration Drives Demand for Second Passports and Residency

Asia millionaire migration is increasing demand for second passports and overseas residency as wealthy families incorporate geographic diversification into broader wealth and succession strategies.

An estimated 165,000 millionaires could relocate globally in 2026, compared with a record 142,000 expected in 2025, according to private wealth migration estimates.

Singapore has become a major destination for internationally mobile wealth, supported by its private banking, asset management and family office ecosystem.

The number of family offices receiving tax incentives reportedly rose to more than 2,000 by the end of 2024 from around 400 in 2020.

China and India remain important sources of millionaire outflows.

Investment migration choices range from Caribbean citizenship programmes to European residency schemes.

However, tighter due diligence requirements, regulatory changes and differing tax consequences are making the selection of suitable jurisdictions increasingly complex for internationally mobile wealthy families.