This year, 8,000 HNIs are anticipated to leave India

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According to a recent survey, up to 8,000 high-net-worth people could leave India in 2022. The 2018 Henley Global Citizens Report, which examines changes in private wealth and investment movements globally, states that the demand for better passports and India’s severe tax laws and reporting requirements continue to be the key factors driving migration. Numerous young entrepreneurs are reportedly investigating global business and investment opportunities. Over the next ten years, the number of millionaires and billionaires in India will increase by 80%, compared to 20% in the US and 10% in France, Germany, Italy, and the UK.

Indians are becoming more and more interested in visiting European Union nations as well as perennial favourites Dubai and Singapore. While Singapore is a well-liked destination for digital entrepreneurs because of its reliable legal system and easy access to top-notch financial consultants, the Dubai Golden Visa has gained popularity in some circles because of its simplicity and range of options. India would lose 8,000 millionaires this year, based on projected US dollar millionaires’ net inflows and outflows through 2022. Indian millionaires outnumber those it loses via migration by a wide margin. We anticipate that as India’s standard of living rises, more affluent individuals will migrate back.

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