London
United Kingdom · Greater London, England · Europe
London is the dense, endlessly layered capital where Georgian terraces, glass towers and centuries of history share the same postcode. For affluent relocators it offers unrivalled finance and tech ecosystems, museums and theatre on every corner, and an Underground that stitches together hundreds of distinct village-like neighborhoods. The trade-offs are blunt: brutal rents, grey winters, and a cost of living that ranks among the steepest in Europe.
Wealth migration
Outflowing−17kLondon suffers the world's largest millionaire exodus as the April 2025 non-dom abolition drives the global rich to Dubai, Italy and Switzerland.
Tax regime
Non-dom regime abolished April 2025; new 4-year FIG residence-based regime
Long-term UK residents now face worldwide income, CGT and inheritance tax (40%) on global estate, ending the 200-year remittance-basis shelter that drew the global rich to London.
Golden / investor visa
No residency-by-investment programme.
Why the wealthy are leaving, 2025-26
- UK non-dom status formally abolished 6 April 2025, replaced by a 4-year Foreign Income & Gains regime; after 4 years residents are taxed on worldwide income and gains
- Worldwide inheritance tax (40%) now applies to long-term residents' global assets, the single biggest trigger cited by departing families
- Henley & Partners forecast a record net loss of ~16,500 millionaires in 2025 ($91.8B wealth), the largest outflow of any country since tracking began
- Departures concentrated on London, with non-dom landlords selling prime property and 691 company directors leaving in April 2025 alone (+79% YoY); main destinations Dubai/UAE, Italy, Switzerland, Monaco and Singapore
- Tier 1 Investor 'golden visa' was scrapped in February 2022 with no replacement, removing a residency-by-investment pathway just as tax appeal collapsed
- Reeves/Treasury signalled softening of non-dom and IHT rules in 2025 to stem the exodus, but most departed HNWIs are seen as unlikely to return
The circuit stops here
5 stops a yearWhen the world's wealth lands in London: the annual events that put it on the rich circuit.
- Royal Ascot
Mid-June·Society
- Wimbledon
Late June-mid-July·Sport
- Henley Royal Regatta
Early July·Society
- Goodwood Festival of Speed
Mid-July·Sport
- Frieze London & Frieze Masters
Mid-October·Art market
More of London
Monthly cost breakdown
$6,100solo nomad · mid-rangeClimate
Temperate oceanic (Cfb)Pros
- Native English and the world's deepest finance, tech and professional-services job market
- World-class culture: museums, West End theatre, Michelin dining, parks
- Excellent walkability plus the Underground, Overground and Elizabeth line
- Huge, well-established international and expat community
- Major global air hub via Heathrow, Gatwick and four other airports
Cons
- Among the most expensive cities in Europe: rents and dining are brutal
- Grey, wet weather and short winter daylight
- No digital-nomad visa; immigration routes are work/talent-based and tightening
- Crowded, ageing transport and pockets of petty crime push the safety index down
- Air quality still moderate despite ULEZ improvements
Where nomads stay
Pastel townhouses, Portobello Market and an affluent, leafy west-London feel
East-London creative and tech hub with startups, galleries and nightlife
Prestige addresses, museums and embassy-belt prime real estate
Village atmosphere beside the Heath, popular with families and professionals
Coworking
- Huckletree (Soho, Shoreditch, Westminster)
- The Office Group (TOG): 16+ London sites
- Second Home Spitalfields
- WeWork (multiple central locations)
Annual events
- Notting Hill CarnivalAugust
- Wimbledon ChampionshipsJuly
- London Fashion WeekFebruary
