Super-Rich Consider Their Continental Options – Enness Explains in Financial Times

Following the UK's vote to leave the European Union in 2016, questions were raised about London's future position as a leading global centre for wealth, business and international investment.

In the period immediately following the referendum, a number of studies suggested that some businesses and senior executives were considering relocating operations to other European financial centres, including Frankfurt and Paris.

For high-net-worth and ultra-high-net-worth individuals, Brexit also prompted wider conversations around international mobility, taxation and where to establish a long-term base.

European locations offering strong financial infrastructure, international connectivity and attractive lifestyles became increasingly relevant to globally mobile individuals considering alternatives to London.

Monaco remained one of the most prominent destinations for internationally wealthy individuals, combining an established financial sector with a favourable tax environment and high levels of security. However, its residential property market has long been among the most expensive in the world, with even relatively small apartments commanding substantial prices.

The period highlighted the importance of flexibility for internationally mobile clients. Decisions around residency, property ownership and wealth structuring often extend beyond a single market and can involve multiple jurisdictions.

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