look news india
4300 crorepatis may migrate to other countries: This year 4300 crorepatis may migrate from India to other countries. Last year 5100 crorepatis left India in 2023. According to a report by international investment migration advisory firm Henley, geopolitical crises, economic uncertainties and social discrimination are driving people to leave India.
According to the Henley Private Wealth Migration Report 2024, the most popular destination for migration by Indian wealthy has been the UAE. 6700 wealthy Indians moved to the UAE in 2024. The UAE is the first choice due to its zero income tax policy, golden visa program, luxury lifestyle and strategic location.
Indian emigrants migrate to Portugal
Portugal, which offers residency and citizenship through investment programmes, has become another popular relocation destination for wealthy Indians. People are settling there thanks to exceptional services such as Portugal's Golden Residence Permit Programme, Greece's Golden Visa Programme, Spain's Residence by Investment Programme and Malta's Citizenship by Direct Investment. In the Caribbean, Antigua and Bermuda's Citizenship by Investment Programme and Grenada's Citizenship by Investment Programme attract wealthy Indians and their families.
This year 1.28 lakh rich people will migrate from all over the world
Dominic Wallach, group head of private clients at Henley & Partners, said that this year 1.28 lakh millionaires will migrate from all over the world. Last year this figure was 1.20 lakh. This migration indicates a deep change in the global scenario. Rich people are also migrating from many countries including America, Singapore, Canada and Australia.
Why are people leaving India?
Factors driving migration from India by the wealthy include better lifestyle, safer environment and access to premium healthcare facilities, education services. Keeping HNWIs settled in India has become an economic and political stability challenge for the country. Other significant outflows are expected from China, the UK, South Korea, Brazil, South Africa, Taiwan, Vietnam and Nigeria. Each country faces unique challenges that influence their millionaire migration patterns.
also attracted greater value of foreign exchange
The migration of millionaires has important economic implications. Andrew Amoils, head of research at New World Wealth, said, “The migration of millionaires overseas is an important source of income because they bring their money with them when they move to a country. Also, about 20% of them are entrepreneurs and company founders who can start new businesses and thus create local jobs in their new country.
