According to the latest reports, which tracks the global trends in private wealth and investment migration, By 2025, it’s expected that 2000 or more Indian entrepreneurs would relocate to foreign countries.
India’s strict tax laws and reporting requirements, along with the need for stronger passports, remain the driving force behind the migration. The survey reveals that young businesspeople are increasingly looking toward international business and investment opportunities. According to the analysis, the number of millionaires and billionaires will increase by 80% in India over the next ten years, who preferably looking for migration.
Which countries do they migrate to?
Indians are becoming more interested in Australia as well as EU nations like Malta– which is now a growing trend.
Australia is a well-liked destination for digital entrepreneurs and family offices because of its strong legal system and availability of top-notch financial consultants, however according to the most recent estimates for 2022, India would lose about 2,000 millionaires this year due to net inflows and outflows of US dollar millionaires (the difference between the number of high-net-worth individuals who move to and the number who exit from a country). Given that India produces far more new millionaires each year than it loses to migration, these outflows are not particularly concerning.
Families from all across the globe trust FBP International to facilitate their hassle free migration over the years. Destinations that have good infrastructure for preserving wealth are likely to remain in demand. There are also those who are looking to Europe, particularly Mediterranean countries like Malta, since they offer a gateway to the EU, a high standard of living and mostly, a low physical residency requirement – all of which are important to Indian families and businesses.
But why are India’s wealthiest citizens leaving?
A new generation of tech entrepreneurs is joining the ranks of the old industrialist base, seeking to diversify a portion of their income in nations that offer the majority of benefits and low tax rates.
The attraction of a higher level of living, particularly superior family-oriented educational and medical facilities, also endures as a significant motivator, maybe even more so in the wake of Covid.
Consistently, the main drivers of alternative residence and citizenship are growingly strict tax residency restrictions with no reduction in individual taxation rates for HNWIs, along with a desire for visa-free travel.
FBP International with its strong network over Australia, Malta and other countries, facilitates hassle-free migration. Also providing the insights of business set up and assistance, if required. If you’re planning to Migrate to Europe or Migrate to Australia, get in touch with FBP International. Our migration experts will help you assess your situation and suggest you a road map that will make things simpler and more rewarding for you!