The PennZone

LONDON - PennZone -- Taxation is the leading concern for 82.6% of wealthy UK investors considering a second residency or citizenship, according to new research from investment migration firm La Vida.

La Vida's 2026 UK Investor Survey asked investors who have enquired with the firm about residency or citizenship by investment what is driving their interest in leaving the UK, and where they plan to go. The survey ran from 29 September to 8 October 2026.

"Tax continues to be the main concern of wealthy Brits looking to leave the UK, with over 82% of respondents citing it as a factor driving their decision making," said Paul Williams, CEO of La Vida.

Wealth Tax the Biggest Fear

Wealth tax was the tax increase most likely to push respondents out of the UK, ahead of income tax and inheritance tax.

Political concerns (56.5%) and cost of living (52.2%) followed taxation as the top reasons for considering a move. Concern about crime and security fell sharply, from 59.3% in La Vida's 2025 survey to 37% this year.

"The average wealth of respondents was around £9 million. That's more than 20 times the national average, and no doubt a significant tax loss for HMRC for each one deciding to leave," said Williams.

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"The top 1% of UK income taxpayers pay around 30% of all UK income tax. The UK government needs to find a way to persuade such wealth to stay and encourage more into the UK."

Portugal Pulls Ahead as Dubai Fades

Portugal was named as a top-two destination by 73.8% of respondents, up from 50.6% in 2025. Italy came second at 26.2% and Greece third at 19%.

Interest in the UAE fell from 13.6% to 2.4%, even though Dubai features heavily in coverage of wealthy Britons leaving the UK.

"Portugal is a top destination for many. La Vida's clients alone have gone on to invest several hundred million euros into the Portuguese economy in the last decade through its Golden Visa program," said Williams.

Brexit a Major Factor

Brexit is a major factor for 63% of respondents and a minor factor for a further 17%. La Vida asked about Brexit for the first time this year, after a summer of longer queues for British travellers under the EU's new Entry/Exit System.

"Brexit is the one and only reason why I would have an interest in a second residency," said one respondent.

"I don't regret voting for Brexit but it has rather scuppered an easy move to Portugal," said another.

Plan B, Not Panic

A Plan B or backup option was the most common goal, named by 60.9% of respondents, ahead of tax reduction at 58.7% and visa-free travel at 54.3%.

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Support for a UK Golden Visa

60% of respondents said the UK should introduce a Golden Visa program to attract investment.

The Home Office closed the UK's Tier 1 (Investor) visa to new applicants in February 2022.

However, both the previous Conservative government and the current Labour government have indicated that they could reintroduce a Golden Visa in some form.

With Prime Minister Andy Burnham looking to draw further investment to the country, the proposal is likely to gain further support heading into this year's Budget and into 2027.

Notably, wealthy Brits back the idea. Half of respondents said they did not know who they would vote for if a general election were held today.

"The UK is being left behind not only by its citizens but by its competitors in the race for global wealth," said Williams.

Notes to Editors

• Methodology: La Vida invited more than 5,000 investors who have enquired about residency or citizenship by investment over the last decade to take part in its 2026 UK Investor Survey. The survey ran from 29 September to 8 October 2026.
• Respondents: 91% of respondents hold UK citizenship, 76% live in the UK and 93%, with a weighted networth of £9.7 million.
• Multiple answers: Respondents could select more than one concern and goal, and up to two destinations.
• Data and comments available: the full dataset, further respondent comments and year-on-year comparisons with La Vida's 2025 survey are available on request.