Australia is the millionaires’ migration destination of choice for the third year running, according to a new report, with wealthy individuals lured by the country’s proximity to Asia, relative safety and no inheritance taxes.
About 10,000 high-net-worth individuals, with a personal wealth of US$1m or more, migrated to Australia in 2017 – mostly from China, India and the UK.
Melbourne and Sydney were among the top 10 cities around the world to have a net immigration of millionaires, as was Auckland in New Zealand. Sydney is one of the wealthiest cities worldwide.