Indians and Americans top two nationalities seeking investment migration

With about 357,000 high-net-worth individuals, India showcases a robust wealth presence and demand for migration

The past couple of years have seen a volatile shift in the attitudes and perceptions of people when it comes to security. Covid-19 pandemic, the crisis in Ukraine, global recession remain some of the factors that have led to many comfortably established entrepreneurs to seek and enquire about the benefits of migrating to other countries on the basis of investment.

For Indians, work-based visas and student visas have traditionally remained the top two routes through which professionals and students choose to live abroad for work and study. Investment migration is a rapidly rising trend that is driving affluent Indians to also seek citizenship in other countries.

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Immigration experts report significant and interesting insights into millionaire migration trends in India.

Dominic Volek, Group Head of Private Clients at Henley & Partners, says, “Recent and persistent turmoil has caused a shift — more investors are considering relocating their families for a range of reasons, from safety and security, to education and healthcare, to climate change resilience and even crypto-friendliness.

“It is important to note that nine of the top 10 countries for forecast net HNWI inflows in 2023 host formal residence by investment programs that encourage foreign direct investment in return for the right to reside, which can also lead to citizenship in some cases.”

“Investors see the clear value of diversifying their domicile portfolios as the ultimate hedge against both regional and global volatility, now and in the future,” says Volek.

The trend is further established by the statistics, according to investment migration firm, Henley & Partners. They received the highest number of investment migration program enquiries on record in the first quarter of 2023 — an increase of 36% compared to the previous quarter, and a remarkable 47% higher than the same period in 2022, which was itself a record-breaking year.

The top two nationalities currently driving demand are Indians and Americans, with Brits and South Africans remaining in the top 10 as they have done for the last five years.

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Rohit Bhardwaj, Director – Private Clients at Henley & Partners India says, “With a current count of approximately 357,000 high-net-worth individuals (HNWIs) residing in India, the country showcases a robust wealth presence.”

“Asia is home to various wealth hubs and just this year, the number of enquiries received from South Asia in the first four months of 2023 already accounted for 72.2% of the total number of enquiries recorded the previous year which in itself was a record year.”

“We project this upward trajectory to continue this year, with Indian investors voicing the demand for alternative residences and additional citizenships,” he says.