As the United Arab Emirates (UAE) faces Iranian missile attacks, wealthy Britons are looking for alternatives to Dubai. Once a favored destination for affluent individuals seeking tax-free living and lavish spending, Dubai's appeal is fading.

Now, Milan, Italy's financial capital, is emerging as a potential new home for these ultra-rich individuals. Armand Arton, a consultant who helps wealthy families relocate via investment citizenship schemes says Italy has the best benefits: a flat tax and good quality of life.