The number of wealthy people who have moved their tax jurisdiction or are planning to has more than halved after political and economic shocks driving relocations receded, research has found.
A quarter of rich people from around the world surveyed by consultancy Capgemini said they had changed their principal tax residence in 2025 or were intending to do so, down from 56 per cent the year before.
Changes that had motivated moves in recent years, such as political dissatisfaction in the US and the abolition of the non-dom tax regime in the UK, were playing themselves out, said Gareth Wilson, global banking industry leader at Capgemini.
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