Why Millionaires Choose Milan and the Italian Golden Visa in 2026

Introduction

In recent years, Milan has transformed into one of the world’s most attractive destinations for high-net-worth individuals 🌍.
This is not perception or hype: Milan now has the highest concentration of millionaires in the world, surpassing cities traditionally associated with global wealth such as New York and London.

This phenomenon is driven by a precise mix of economic strength, legal stability, and lifestyle quality. Milan is not simply a wealthy city. It is a city that works for people managing international assets, cross-border businesses, and foreign income.

This is exactly where our Italian Golden Visa service fits in, designed for entrepreneurs, investors, and HNWIs who want to legally establish themselves in Italy, use Milan as a European base, and structure their tax residency correctly.

Milan: the city with the highest concentration of millionaires

Recent analyses reveal a striking figure: approximately one millionaire for every twelve residents in Milan.
This ratio places the city at the top of the global ranking for wealth density.

This does not simply mean that wealthy individuals live in Milan. It means the city has become a natural hub for large fortunes, global professionals, serial entrepreneurs, and international investors.

The key drivers behind this trend include:

• economic and financial centrality
• presence of multinational corporations and investment funds
• high-value sectors such as fashion, design, finance, and advisory
• modern infrastructure and premium services

Milan today speaks the language of HNWIs 💼.

Why high-net-worth individuals choose Milan

People with significant wealth do not make residency decisions emotionally.
They base their choices on concrete factors:

• regulatory stability
• access to international markets
• quality and reliability of services
• tax predictability

Milan fully meets these criteria. It offers direct access to the European Union, a high standard of living, and a solid legal framework.

Compared to other European hubs, Milan allows a more balanced integration between personal life and professional activity, without the constant pressure typical of other global cities 🌆.

The Italian Golden Visa as a strategic entry point

For non-EU citizens, the first step toward settling in Italy is always the same: a solid and lawful residence permit.

The Italian Golden Visa was created precisely for this purpose.
It is the residence permit designed for investors who intend to:

• move to Italy
• invest in the country
• obtain a stable and renewable residence permit
• relocate their family

Through our dedicated Italian Golden Visa assistance, we support clients at every stage, from the initial assessment to the practical management of residence and permits.

For many HNWIs, the Golden Visa represents the most straightforward and secure solution to enter the Italian system without shortcuts or unnecessary risks 🔑.

Golden Visa and tax residency: the real turning point

The Golden Visa alone is not enough.
The real advantage emerges when the residence permit is properly coordinated with Italian tax residency.

Once tax residency is established, Italy offers one of the most attractive regimes in Europe for individuals with foreign income: the flat tax regime for new residents.

This is where Milan becomes a strategic decision, not merely a lifestyle choice 📊.

Italian flat tax: from €100,000 to €200,000, yet still competitive

The Italian flat tax regime now provides a fixed annual substitute tax of €200,000 on foreign-source income.

Yes, the amount has increased compared to the past.
But the core principle remains unchanged: the tax is independent of the actual income amount.

For international entrepreneurs and investors, this means:

• no progressive taxation on foreign income
• certainty over the tax burden
• long-term financial planning
• drastically reduced complexity

Under the ordinary Italian tax system, high income can be taxed at rates exceeding 40 percent.
The flat tax allows individuals to live in Europe without facing disproportionate tax pressure 💡.

Flat tax planning: why it is not automatic

A common mistake is assuming that the flat tax applies automatically.
It does not.

It must be:

• formally requested
• structured according to the individual’s assets and income
• coordinated with the relocation timeline
• aligned with companies, investments, and foreign assets

For this reason, the flat tax should always be supported by advanced Italian tax planning services, which turn a move to Italy into a tax-efficient operation, not a compliance risk ⚠️.

Living in Europe without excessive taxation is possible

Europe is often associated with high taxation.
That is partly true. But Italy represents an exception for those who structure their relocation correctly.

With the Golden Visa combined with the flat tax:

• you live in one of the most attractive countries in the world
• you gain full access to the EU market
• you maintain predictable taxation on foreign income
• you avoid opaque or unstable jurisdictions

This is one of the main reasons why an increasing number of millionaires are choosing Milan over non-European alternatives 🌍.

Milan compared to other global hubs

Compared to Switzerland, Monaco, or Dubai, Milan offers a unique mix:

• direct access to the European Union
• authentic European lifestyle
• culture, healthcare, education, and high-level services
• a more sustainable overall cost of entry

This is not just a tax decision.
It is a strategic and lifestyle decision 🍷.

A structural trend, not a temporary one

The growth in the number of millionaires in Milan is not a bubble.
It is a structural trend supported by:

• favorable tax policies
• expansion of the economic ecosystem
• increasing availability of HNWI-focused services

Those who act today position themselves ahead of a trend that is set to consolidate over time.

Conclusion

Milan is now one of the most strategic cities in the world for high-net-worth individuals.
The Italian Golden Visa, combined with proper tax planning and the €200,000 flat tax regime, offers a concrete solution to live in Europe, conduct business, and retain control over taxation.

This is not a shortcut.
It is a long-term strategy 📈.