According to the Hindu: Several Indian high net worth individuals (HNIs, with a wealth of $1 million) and ultra-high net worth individuals (UHNIs, with a wealth of $50 million onwards) are securing foreign citizenship, and therefore the outflow is growing year after year, according to people familiar with the trend.
While the U.S., the U.K., and Canada have long been favorite with rich Indians, countries like Cyprus, Greece, Malta, and other alternative European Golden Visas are seen gaining mass traction and interest in the past few years. For many wealthy Indians, international business or children’s education in top schools in Europe, the UK, or the US, are key factors that drive their decisions to choose the best investment visa programs.
According to the reports from Global Wealth Immigration data, India has witnessed the outflow of one-third of its high net-worth Individuals, i.e., 2% of the total high net-worth community, has obtained citizenship of another country in the year 2020.
Programs that will favor investments along with higher ROIs:
- Malta:
The Maltese Citizenship is intended for ultra-high- net worth individuals and is divided into categories
- Make a minimum contribution of €600,000 to the national development fund set up by the government and reside in the country for 36 months. OR
- Contribute €750,000 and 12 months of resident evidence. Investors will require to contribute €50,000 per additional dependent included in their application.
- In addition to these contributions, investors must further invest €700,000 in residential real estate or join a rental agreement with a minimum amount of €16,000 per annum which must be maintained for five years.
- And a compulsory donation of €10,000 for a registered non-governmental organization, animal welfare associations, philanthropic, sports, and cultural personalities.
- Grenada:
Grenada is the newest country to offer citizenship via an investment program, and it wouldn’t be an understatement to say that it is the easiest country to obtain citizenship from. The Grenada program grants investors a Grenada passport in two months in exchange for an economic investment of at least $100,000. Individuals can donate a minimum of $150,000 to the National Transformation Fund (NTF). And invest a minimum amount of $350,000 in pre-approved real estate (as a single applicant), or make a joint investment in accommodation of at least $220,000 per investor.
- The United States of America:
The EB-5 visa program is a secured and excellent program for obtaining citizenship via investment for Employment creators and Investors. The investments require a minimum amount of USD$ 900,000 often invested in real estate. Otherwise, an amount of USD$ 500,000 can be invested in the regional center (employment area). Or a Direct Investment of USD$ 1million can be invested in an American commercial enterprise.
“Concerning the wealthy migration trend, it’s anticipated that an overall demand for a second passport among affluent individuals will continue to increase in 2021”.
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