The New York Post quotes Dominic Lawrance on the trend of wealthy individuals relocating to Milan
min readIn 2025, 142,000 millionaires around the world are expected to relocate — the largest voluntary transfer of private capital in modern history — per Henley & Partners, a London-based consultancy that tracks global trends in high-net-worth relocation.
Traditional migration paths for the 1% have seen wealthy individuals fleeing high-tax areas like New York and California — which are losing Americans making over $200,000 at the highest rates of any US states — for buzzy locales such as Miami, Monaco and Portugal.
Dominic Lawrance, Partner, comments on the trend of wealthy individuals moving to Milan:
Milan is a very popular destination for the wealthy, due to a combination of factors. Italy’s “lump sum” special tax regime is simple and highly attractive. Milan is of course a financial centre, with international schools and classy shopping precincts. The city is, by Italian standards, highly cosmopolitan, and its location in the north of Italy provides relatively easy access to other European countries.
"Italy has also benefited greatly from ill-judged tax reforms in the UK, which have had the unintended effect of driving away wealthy, internationally mobile individuals, who previously resided in London in relatively large numbers. Many of these individuals have chosen to move to Milan or elsewhere in northern Italy.
The article also mentions the recent opening of our Milan office.
Read the full piece in The New York Post here.
