Increasing number of rich people prefer to leave Britain

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An increasing number of super-rich British people want to leave the country according to a recent survey by Lloyds Bank. The research revealed that more than 22% of the millionaires want to move abroad in the next two years.

That marks a slight increase from 21 per cent six months ago, 19 per cent one year ago, and a steep rise from 17 per cent recorded 18 months ago.

In addition to that, it was revealed that the number of immigrants is rising. A total of 155,000 left the country, up from 143,000 for the previous 12 months. The most popular destinations are the English-speaking countries such as Australia, the US and Canada.

They have relatively strong economics given the world economic crisis. Spain, France and Italy remain popular too, especially among the retirees. The profile of the average immigrants is also changing. Most of them are working people.

Young professionals are attracted by the low-tax regimes of the Middle-East (Qatar, United Arab Emirates). New families are on the other hand going to Australia. Cities such as Sydney, Melbourne and Brisbane are considered safe and family-friendly.

The leading reason for immigration is the country’s bad weather, while other key reasons include concerns about levels of crime and anti-social behaviour and perceptions about the UK’s high cost of living.

Concerns of the higher tax rates also play a role in the decisions of the people whether to immigrate or not. The total sample size was 1,399 adults with savings and investments of over £250,000. Among the 1,399 people surveyed, 210 of them had assets of more than £1,000,000.

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