Taxes Drive 83% of Wealthy UK Investors to Seek Second Residency

Taxation ranks as the primary motivation for 82.6% of wealthy UK investors exploring second residency or citizenship options abroad, according to a new survey by La Vida released Monday. The findings underscore growing concern among high-net-worth Britons about their domestic tax burden as successive government budgets have targeted wealth accumulation and inheritance.

Portugal emerged as the destination of choice for nearly three in four respondents, reflecting the country's longstanding appeal through favorable residency programs and its relatively accessible cost of living compared to other Western European nations. The survey highlights that Portugal has consistently attracted British expatriates seeking a combination of lifestyle benefits and tax efficiency.

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Brexit continues to reverberate through the wealth management decisions of affluent Britons, with close to two thirds of survey respondents citing it as a significant factor in their relocation planning. The loss of EU freedom of movement has made formal residency pathways — such as golden visa programs — more logistically important for UK nationals who wish to live, work, or retire in Europe.

The convergence of tax pressure and post-Brexit mobility constraints appears to be accelerating what analysts have described as a broader trend of high-net-worth emigration from the United Kingdom. While the La Vida data captures intent rather than confirmed departures, the scale of concern among respondents suggests that UK policymakers may face increasing scrutiny over the fiscal conditions that are pushing wealthy residents to consider exits. The survey adds to a growing body of evidence that wealthy individuals are actively restructuring their lives around residency and citizenship options outside Britain.

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