India to Lose 6,500 Millionaires This Year: Top Destinations They Are Heading To

UAE’s Continuing Appeal: After a record-breaking influx in 2022, the UAE is set to welcome 4,500 new millionaires this year.

Australia’s Attraction: Australia is predicted to witness the highest net inflow of millionaires in 2023, with an expected increase of 5,200 HNWIs.

High Enquiries for Investment Migration: Henley and Partners report a surge in enquiries for investment migration schemes, with significant demand coming from Indian and American individuals.

Reasons for Indian Migration: Prohibitive tax legislation and complex rules relating to outbound remittances are cited as key factors triggering investment migration from India.

Migration Trends on the Rise: The Henley Private Wealth Migration Report reveals a steady increase in millionaire migration globally, with an estimated 122,000 and 128,000 millionaires expected to migrate in 2023 and 2024, respectively.

Positive Outlook for India: Despite the significant outflow, India’s position is expected to improve compared to the previous year when the outflow was higher at 7,500 millionaires.

India in Second Place: India follows China closely, projected to lose 6,500 high-net-worth individuals in 2023.

China Ranked First: China is predicted to lose the highest number of millionaires this year, with an expected outflow of 13,500 HNWIs.

India to Lose 6,500 Millionaires This Year: Top Destinations They Are Heading To | India to Lose 6,500 Millionaires This Year: Top Destinations They Are Heading To