Fewer than 11,000 millionaires leave Brazil annually.

As demonstrated in studies, Brazil stood out on the international scene, ranking among the countries that most expanded their base of millionaires, as noted in the Global Wealth Report available at BBC website.

Below, a simplified comparison highlights this evolution:

The economic boost and improved business environment attracted not only local but also international investors, which further reinforced this robust growth in the number of high-net-worth individuals in the country.

Impact of Tax Reform on Emigration

A tax reform proposal in Brazil it includes exemption from Income Tax up to R$ 5 thousand and the application of progressive rates for income above R$ 600 thousand.

This creates a contrast with the taxation in force in countries such as the United States and the United Kingdom, where the tax burden on high incomes is significantly higher.

In Portugal, one of the favorite destinations for Brazilian millionaires, the tax system also offers advantages, such as exemptions for new residents.

This approach could impact millionaires' decisions about where to declare their tax residency.

Meanwhile, the current tax burden in Brazil remains favorable compared to many of these countries, but economic and political uncertainties are increasing interest in changing residence.

Potential incentive to change tax residence arises when millionaires evaluate not only the tax rates, but also the quality of life and security offered by other countries.

This scenario highlights the need to consider factors beyond
taxation when analyzing emigration decisions of the wealthiest.

Destinations and Motivations of Millionaires Who Emigrate

Brazilian millionaires who choose to emigrate often choose destinations that offer economic stability and a high quality of life.

Among the main preferred countries are:

• United States
• Portugal
• United Kingdom
• Uruguay
• Spain

.

These places stand out for their safety, quality educational system and efficient health services.

In particular, Portugal is popular due to similar language and favorable residency policies, while the United States are attractive due to their robust market and diverse investment opportunities.

Economic uncertainties and one unstable political environment are driving factors for the emigration of these individuals.

The search for better quality of life leads millionaires to consider personal safety and their children's education when choosing a new home.

Furthermore, the tax reform under discussion, which envisages significant changes in tax rates on high incomes, is attracting attention.

Although the tax burden in Brazil is still considered competitive, the possibility of more progressive taxation may encourage tax migration.

These individuals seek not only to preserve their wealth, but also to ensure a stable and prosperous future for their families, as highlighted in articles on the departure of millionaires from Brazil.

Brazilian Millionaires are increasingly evaluating their tax residency options, and current trends show an interesting balance between increasing wealth and stable emigration rates.

Analyzing this data is essential to understanding Brazil’s economic and social future.