Tax Burden Drives Wealthy UK Investors to Seek Second Residency
A La Vida survey finds 82.6% of affluent Britons cite taxation as their top reason for pursuing overseas residency or citizenship.
Taxation is the dominant driver pushing wealthy British investors toward second residency or citizenship programs abroad, with more than four in five — 82.6% — naming it as their primary concern, according to new survey data released by La Vida in October 2026.
Portugal has emerged as the overwhelming destination of choice, favored by nearly three in four respondents. The country's climate, residency pathways, and historically favorable tax treatment for foreign residents have long attracted international wealth, and the La Vida findings confirm that appeal remains strong among the UK affluent class.
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Brexit continues to cast a long shadow over the decision-making of high-net-worth Britons. Nearly two thirds of those surveyed cited Britain's departure from the European Union as a significant factor in their plans, reflecting lingering frustration over the loss of freedom-of-movement rights that once allowed UK nationals to live and work across the continent without restriction.
The survey underscores a broader trend of wealthy individuals seeking legal mechanisms to reduce their tax exposure or secure geographic flexibility. Second residency and citizenship-by-investment programs — offered by a growing number of countries — have become increasingly mainstream tools for international wealth management, particularly as governments in the UK and elsewhere tighten fiscal policy.
The findings add to mounting evidence that high-net-worth individuals are actively responding to the UK's evolving tax landscape, including recent changes to non-domicile tax rules that had previously shielded foreign income for many wealthy residents. Continue reading at All Financial Services & Investing.
