UAE Retains Ultra-Wealthy Inflows Undeterred by Regional Geopolitical Risks, Bankers Report

The United Arab Emirates maintains its position as a primary destination for relocating ultra-wealthy individuals and fresh capital inflows despite geopolitical risks associated with the US-Iran war, UA.NEWS reported, citing coverage by The National. Wealth managers operating in the UAE stated that regional conflict has not reversed the influx, with family offices, high-net-worth clients, and institutional investors continuing to arrive from Europe, the United Kingdom, East and South Asia, and the wider Gulf region. The trend follows a record 9,800 millionaires relocating to the Emirates in 2025, according to data from Henley & Partners and New World Wealth.

Aladdin Hangari, head of global private banking for HSBC in the Middle East and North Africa, stated that the UAE's appeal is structural rather than reliant on short-term sentiment. Hangari highlighted personal safety, political stability, the absence of personal income tax, clear residency and tax regulations, international transport connectivity, and specialized family office structures operating within the Dubai International Financial Centre (DIFC) and Abu Dhabi Global Market (ADGM) as fundamental drivers.

Farzad Billimoria, head of Barclays Private Bank in the UAE, noted that affluent families and entrepreneurs treat their presence in the Emirates as part of a long-term strategic plan. Clients increasingly prioritize multi-generational wealth preservation, succession planning, local inheritance rules, access to long-term visas, and international commercial reach alongside investment management.

In response to growing client demand, global private banks are strengthening their operational presence across the UAE. HSBC established a dedicated wealth center in Dubai in September 2025 and plans additional investments, while JPMorgan Chase is actively building out its domestic private banking team. Additionally, Singapore's DBS Bank plans to expand its regional private banking personnel from 10 in 2025 to over 30 within two years, aiming to reach approximately 22 specialists by the end of 2026, according to Middle East and Africa private banking head Loic Voide.