Do you want to know where the rich chose to live? The Scorpio Partnership, leading business strategy advisor to the wealth management industry, has come up with a list of cities according to their “Mobile Wealthy Residency Index”. The  Index is the result of qualitative research by Scorpio Partnership with senior advisors to the world’s mobile wealthy to find out what the most attractive locations are to live and work. Here the findings:

10.  Dubai . Strengths are Housing (1st), Security (3rd), Employment & business opportunities (7th), Tax and immigration (7th), Convenience (7th)

9. Monaco. Strengths: Tax and immigration (1st), Security (2nd), Cultural/Infrastructure Sophistication (2nd), Convenience (3rd), Education for children (6th)

8. Isle of Man. Strengths. Quality of housing (2nd), Convenience (4th), Economic & political stability (6th), Employment & business opportunities (6th), Tax and immigration (6th),

7. Cayman Islands. Strengths: Economic & political stability (2nd), Tax and immigration (3rd) Security (4th), Financial services sector (6th), Cultural/Infrastructure Sophistication (8th)

6. Isle of Jersey. Strengths, Convenience (2nd),education for children (4th), economic & political stability (5th), Legal considerations (5th), Financial services sector (7th)

5. Hong Kong. Strengths: Employment & business opportunities: (3rd), Tax and immigration: (4th), Financial services sector: (4th), Security: (5th), Cultural/Infrastructure Sophistication (5th)

4. New York. Strengths: Financial services sector: (1st), Education for children: (3rd), Cultural/Infrastructure Sophistication: (3rd), Employment & business opportunities: (5th), Quality of housing: (5th)

3. Singapore. Strengths: Employment & business opportunities: (1st), Security: (1st), Tax and immigration: (2nd), Legal considerations: (2nd), Economic & political stability: (3rd)

2. London. Strengths: Education for children: 2nd, Financial services sector: 2nd, Legal considerations: (3rd), Quality of housing: (3rd), Employment & business opportunities: (4th)

1. Switzerland. Strengths: Education for children: (1st), Economic & political stability: (1st), Legal considerations: (1st), Convenience: (1st), Cultural/Infrastructure Sophistication: (1st)

At first I was a little surprised to live in the country that now tops the list, but on second thought I am not so surprised anymore, considering how celebrities like Michael Schuhmacher, Tina Turner, and Shania Twain reside here. Scorpio Partnership cites that the wealthy appreciate its “well-rounded offer”.

London’s attractiveness on the other hand has been suffering due to UK Government’s aggressiveness fiscal policy which “punishes” the wealthy, by increasing taxes for the wealthy for example. Singapore was favoured because of its attractive policies. See more here.