Behind the gilded moldings of Parisian townhouses, beyond the Haussmann façades and the discreet meeting rooms of private banks, a subtle shift is underway. No grand declarations, no dramatic exits, just the measured execution of carefully engineered wealth strategies. Quietly, year after year, a segment of France’s most affluent households is slipping away.

In 2025, a global phenomenon of great magnitude is unfolding: more than 165,000 millionaires are expected to change countries. This massive migration of high-net-worth individuals reflects strategic choices driven by taxation, lifestyle, and investment opportunities.