8,000 HNIs May Leave India This Year. Here’s Where They Are Migrating Https://www.inventiva.co.in/stories/8000-hnis-may-leave-india-this-year/

A recent poll suggests that up to 8,000 high-net-worth individuals might leave India in 2022. According to the 2019 Henley Global Citizens Report, which tracks private wealth and investment movement patterns internationally, strict tax restrictions and reporting requirements in India, as well as the need for better passports, continue to be the key driving forces behind the migration.

According to the survey, a growing number of young entrepreneurs are looking into international business and investment opportunities while exhibiting an ever-increasing stomach for risk.

According to the research, the number of millionaires and billionaires earning in US dollars would increase by 80% in India over the next ten years, but only by 20% in the US and 10% in France, Germany, Italy, and the UK.

“India’s projected general wealth is quite robust. By 2031, we project the number of HNWIs (high net worth people) will have increased by 80%, making India one of the world’s fastest-growing wealth markets. The local financial services, healthcare, and technology industries will have a particularly rapid expansion, which will fuel this “Andrew Amoils, the head of research at New World Wealth, said.

But why are India’s richest people leaving the nation?

With the aim of diversifying a portion of their income in countries that provide the majority of benefits and low tax rates, a new generation of digital entrepreneurs is entering the ranks of the old industrialist base.

The appeal of a higher standard of living also persists as a strong motivation, maybe even more so in the aftermath of Covid, especially with regard to improved family-oriented educational and medical facilities.

The wealthy in India are migrating in quest of more safety and security, superior medical care and educational opportunities, climatic resilience, and crypto friendliness. Although these problems are not new, the current socio-political climate may have made people’s anxieties more acute.

8000 ultra-rich indians expected to leave india in next 12 months & relocate to another country – trak.in – indian business of tech, mobile & startups

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