Key private wealth trends in 2026 and why clients are choosing the Isle of Man, U.S and Dubai for wealth preservation, tax optimisation, international business, and lifestyle advantages.

‍

2026 is witnessing the largest intergenerational wealth transfer in history. An estimated $6 trillion is passing from the Silent Generation and baby boomers to their heirs this year alone, part of a projected $124 trillion set to change hands by 2048. At the same time, the world's wealthiest families are on the move at a record pace: UBS's Billionaire Ambitions Report found that 36% of the billionaire clients it surveyed relocated at least once in 2025, with a further 9% considering a move.

‍
From wealth migration and estate planning to alternative investments, high-net-worth individuals (HNWIs), typically defined as those with at least $1 million in investable assets, are rethinking not just how their wealth is managed, but where it is held. In this article, we explore where the world's wealth is moving in 2026, the trends shaping HNW decisions, and how three key jurisdictions, Dubai, the Isle of Man and the United States, compare.

‍

Where the World's Wealth is Moving in 2026
‍

In 2026, high-net-worth individuals are moving assets and residence. Wealth migration has reached record levels and according to the Henley Private Wealth Migration Report, a record 142,000 millionaires were projected to relocate internationally in 2025, with that figure expected to climb to around 165,000 in 2026.

The United Arab Emirates, led by Dubai, was forecast to receive the world's highest net inflow of millionaires, at a record +9,800. The United States ranked second with a projected net inflow of +7,500, while the United Kingdom was forecast to lose a record 16,500 millionaires, the largest net outflow recorded by the report since tracking began, and more than double the outflow from China.

‍
The UK's losses have been driven by a series of policy shifts, including the closure of the Tier 1 Investor Visa in 2022, the abolition of the centuries-old non-domicile tax regime in April 2025, and changes to inheritance tax treatment. Together, these have prompted many wealthy residents to reassess whether the UK remains the right base for their families and their capital.

‍
Dubai's government, by contrast, is actively courting global wealth. Zero personal income tax, a low corporate tax rate of 9%, long-term golden visas and world-class infrastructure have transformed the emirate from a regional hub into a global wealth centre, and its ecosystem of family offices, private banks and advisers continues to increase the sophistication of its services.

‍
The Trends Shaping HNW Decisions

‍
1. Political and economic uncertainty‍

Geopolitics has moved from the background to the foreground of wealth planning.

Trade policy is a prominent example, surveys consistently show that most wealthy investors are concerned about the impact of tariffs and trade tensions on their portfolios and businesses. Policy regimes that once took decades to evolve can now change within a single political cycle. In response, HNW families are treating residency and citizenship the way they treat their portfolios, diversifying across jurisdictions so they are not overly dependent on any single country's politics, tax regime or currency.

HNW clients are no longer relying on a single market, they are building multi-jurisdictional strategies that combine the strengths of several.

‍
2. Estate planning and the great wealth transfer‍

Despite the scale of wealth changing hands, preparedness remains strikingly low.

According to the Trust & Will 2026 Estate Planning Report, 56% of US adults have no estate planning documents at all - no will, trust, power of attorney or healthcare directive, a figure broadly unchanged from 55% in 2025.

‍
In the UK, by contrast, demand for trust-based planning and tax optimisation has increased as families respond to inheritance tax changes, with a growing share of wills now including trust provisions. Structures such as trusts and foundations are central to modern succession planning because they separate personal ownership from control, shielding assets from political risk, litigation and family disputes, while ensuring wealth passes to the next generation in an orderly, tax-efficient way.

‍
3. The rise of alternative investments‍

The wealth transfer is also changing what portfolios look like. Younger inheritors, who tend to be more environmentally and ethically focused, are pushing allocations beyond traditional equities and bonds, and wealth managers are having to adapt their offerings to accommodate a more dynamic vision of investing. Allocations to alternative assets, private equity, infrastructure, real estate, private credit and digital assets, continue to grow, and family offices in particular are increasing their exposure to real estate and private markets.

Tokenisation is the newest frontier. BCG and Ripple estimate that tokenised real-world assets could reach $18.9 trillion by 2033. And Dubai is an early mover. Real estate tokenisation initiatives backed by the Dubai Land Department, operating within the Virtual Assets Regulatory Authority (VARA) framework, allow fractional ownership of property, one more reason the emirate is attracting globally minded investors.

‍
How Three Key Jurisdictions Compare
‍

Dubai‍

For HNWIs seeking stability, tax efficiency and lifestyle amid global political uncertainty, Dubai has become a magnet. Individuals pay no personal income tax, no capital gains tax and no inheritance tax, while businesses benefit from a low corporate tax rate of 9% (above a small-profits threshold).

Long-term golden visas provide residency certainty, and the growth of family office services, centred on hubs such as the DIFC, has established a highly sophisticated local wealth ecosystem. Relocation is a significant personal decision, however, and the benefits depend on genuine residence and substance. Anyone considering a move should take professional advice on their home-country exit rules and ongoing obligations.
‍

‍The Isle of Man‍

The Isle of Man is seen as a well-regulated, compliant and reputable jurisdiction, with close ties to the UK but its own independent legal and tax system. There is no capital gains tax and no inheritance tax, and the standard rate of corporate income tax is 0% for most businesses (banking profits are taxed at 10%, income from local land and property at 20%, and large multinational groups are subject to the 15% global minimum rate).

Its long-established trust and foundation law, political stability and deep professional-services sector make the Isle of Man particularly compelling for clients whose priority is asset protection, succession planning and wealth preservation, rather than for those seeking maximum access to global capital markets, who may be better suited to the US.

‍

‍The United States‍

The US remains the world's largest engine of wealth creation, and its landscape is centred on opportunity: it provides unmatched access to global capital markets, offering wealth creation potential that few jurisdictions can rival. State-level differences matter, states such as Florida and South Dakota offer notably attractive fiscal regimes, and private clients can implement sophisticated structures, including long-term dynasty trusts, as part of their estate planning.

The trade-off is complexity. The US taxes its citizens and residents on a worldwide basis, so establishing ties there, or holding US assets, requires careful, specialist planning.
‍

‍

Summary‍

Wealth in 2026 is more mobile than at any point in history. Record numbers of millionaires are relocating, trillions of dollars are passing between generations, and portfolios are diversifying into private markets and tokenised assets. The HNWIs who are prepared in this environment will be those that plan deliberately, choosing the right combination of residence, structure and strategy, and recognising that no single market can meet every objective.

Whether the priority is the tax efficiency and lifestyle of Dubai, the stability and asset protection of the Isle of Man, or the market access of the US, the common thread is the same: decisions of this scale deserve careful, cross-border advice.
‍

‍

How Affinity Supports Private Clients Across These Jurisdictions‍

At Affinity, we help high-net-worth individuals and families put the trends explored in this article into practice, protecting, structuring and growing wealth across multiple jurisdictions. With over 20 years of experience and offices in the Isle of Man, Malta, the Cayman Islands, the United Kingdom and the United States, we act as a strategic partner for clients navigating an increasingly complex international wealth landscape.

We work closely with each client to understand their long-term objectives, family dynamics and global footprint, delivering solutions that align with both financial and personal goals.

‍

Wealth Structuring & Asset Protection‍

We design and implement robust structures, including trusts, foundations and corporate vehicles, to separate ownership from control, mitigate risk and preserve wealth across generations. Our Isle of Man base makes us particularly well placed to deliver the succession planning and wealth preservation strategies discussed above. Learn more about our private wealth services here.
‍

Multi-Family Office Services‍

Acting as a central point of coordination, we provide governance, fiduciary oversight, estate planning and administration, ensuring continuity and control for globally mobile families, wherever in the world they choose to base themselves. Learn more about our family office services here.
‍

Residency & Citizenship‍

For clients considering relocation, our immigration services team advises on residency and citizenship options, helping families weigh the tax, legal and lifestyle factors that shape decisions between jurisdictions such as the Isle of Man, the US and Dubai. Learn more about our residency and citizenship services here.
‍

Cross-Border Strategy & Jurisdictional Expertise‍

With offices in key financial centres, we help clients structure assets internationally, leveraging the strengths of different jurisdictions for tax efficiency, legal protection and operational flexibility. Contact us if you would like to discuss cross-border structuring.
‍

Corporate & Investment Structuring‍

From holding companies to investment vehicles, we support entrepreneurs and investors in building efficient, scalable structures to manage and grow capital globally, including within regulated sectors such as fintech and eGaming. Learn more about our corporate and company services here.
‍

Treasury & Liquidity Management

‍We assist with cash flow management, banking relationships and multi-currency operations, giving clients visibility and control over global liquidity. Read more about our treasury services here.
‍

Specialist Asset Structuring‍

Affinity has deep expertise in high-value assets, including aviation and yachting, providing tailored ownership structuring, registration and compliance solutions. Visit our yachting or aviation pages for more information.
‍

Escrow & Fiduciary Services‍

For complex cross-border transactions, our escrow services provide security and confidence to all parties. Learn more about our escrow services here.

‍

Contact Us

Whether you are planning a relocation, restructuring family wealth or preparing for the largest intergenerational wealth transfer in history, our team can help you build a strategy that spans jurisdictions and generations.

Contact us at info@affinityco.com, or reach out to our CEO, Andy Morgan, directly at andy@affinityco.com

‍
Disclaimer: This article is provided for general information only and does not constitute legal, tax, investment or immigration advice. Tax treatment depends on individual circumstances and may change. You should seek professional advice before acting on any of the matters discussed.