In 2025, British high-net-worth individuals (HNWIs) and retirees are increasingly seeking lifestyle upgrades and financial advantages abroad. Among the top destinations capturing their attention are Portugal and Dubai. While distinct in culture, climate, and economic models, both destinations offer compelling reasons to make a move from the UK. This article explores each location on its own merits, offering insights tailored to affluent British expats.
Portugal: A European Haven of Charm and Stability
Portugal continues to be a favorite among British retirees and HNWIs looking for a relaxed lifestyle, EU access, and moderate living costs.
Lifestyle and Community
Portugal is renowned for its laid-back pace, coastal beauty, and welcoming atmosphere. Locations like the Algarve, Lisbon, and Porto offer vibrant expat communities where English is widely spoken. Retirees are drawn to the Algarve’s golf courses, beaches, and well-established British networks.
Tax Efficiency and Residency
Although Portugal ended its Non-Habitual Resident (NHR) scheme for new applicants in 2024, other attractive tax routes remain:
- The D7 visa is ideal for retirees with a stable passive income.
- The Golden Visa still allows residency via investments in funds, job-creating ventures, or research.
- Portugal has no wealth tax, and inheritance tax is minimal for close relatives.
After five years of legal residency, applicants can pursue Portuguese citizenship and gain EU-wide travel and rights.
Real Estate and Cost of Living
Portugal offers excellent property value, particularly in areas like the Silver Coast, Alentejo, and Madeira. Despite rising prices in Lisbon and the Algarve, luxury villas and sea-view apartments still cost less than London equivalents.
- Monthly living expenses for a couple range from €2,500 to €4,000.
- Private healthcare is affordable, and international insurance options are widely accepted.
- Healthcare and Services
Portugal’s healthcare system ranks highly in Europe. Most HNWIs opt for private coverage, enjoying quick access to well-equipped clinics and specialists. British retirees with long-term needs find peace of mind in Portugal’s combination of public and private services.
Portugal is best suited for those seeking a culturally rich, stable, and scenic environment with EU integration. It’s ideal for retirees and HNWIs prioritizing a peaceful lifestyle and long-term security.
Dubai: A Global Hub for Luxury, Business, and Tax Efficiency
For British HNWIs looking to maximize wealth retention while enjoying a cosmopolitan lifestyle, Dubai remains a top-tier option.
Lifestyle and Infrastructure
Dubai offers a dynamic blend of luxury living, futuristic infrastructure, and top-tier services. With English as the lingua franca and over 200 nationalities represented, it’s easy for Brits to integrate into high-end expat circles.
The lifestyle caters to ambitious, fast-paced individuals. From supercars to private clubs, Dubai delivers on prestige and convenience. It’s also family-friendly, with elite schools and safe communities.
Tax Advantages and Residency
The UAE’s appeal lies in its zero personal income, capital gains, and inheritance taxes. For UK HNWIs with global earnings, Dubai is a strategic base:
- Golden Visa (10 years) is available to investors, entrepreneurs, and property owners.
- No requirement to relinquish UK citizenship.
- Residency is straightforward via real estate, employment, or company formation.
- Real Estate and Living Costs
While the cost of living in Dubai is high, it’s matched by quality and tax relief:
- Prime real estate in areas like Palm Jumeirah and Downtown Dubai remains a solid investment.
- Monthly living costs for an HNWI household can exceed £6,000–£10,000, especially with luxury amenities.
- Rents surged in 2024–2025 but are stabilizing in mid-2025.
Healthcare and Services
Dubai boasts some of the best private healthcare facilities globally, often staffed by Western-trained doctors. Concierge medical services, wellness centers, and preventative care clinics cater to affluent residents.
Dubai is ideal for HNWIs focused on wealth preservation, luxury living, and global mobility. It’s particularly attractive to entrepreneurs and executives who thrive in tax-free, high-growth environments.
Choosing Your Ideal Destination
- Both Portugal and Dubai offer world-class advantages for UK expats—but the right choice depends on your lifestyle goals:
- Choose Portugal for EU access, scenic tranquility, and cultural immersion.
- Choose Dubai for financial optimization, luxury services, and global business access.
- Some HNWIs even split time between the two—leveraging Portugal’s quality of life and Dubai’s tax strategy.
Whether you’re preparing for retirement or restructuring your global financial footprint, both Portugal and Dubai deserve serious consideration in 2025.
This communication is for informational purposes only and is not intended to constitute, and should not be construed as, investment advice, investment recommendations or investment research. You should seek advice from a professional adviser before embarking on any financial planning activity. Whilst every effort has been made to ensure the information contained in this communication is correct, we are not responsible for any errors or omissions.