NEW DELHI: India leads the surge in investment migration, alongside the United States and United Kingdom, a report by Henley & Partners showed on Tuesday.
Investment migration refers to acquisition of alternative residence or additional citizenship by immigrants in exchange for making a substantial contribution to the host country.
Titled 'Henley Global Citizens Report', it showed that in the past 2 years, three Cs have guided wealth and investment migration, namely, Covid, climate change and cryptocurrency. In 2022, a fourth C has abruptly emerged: conflict in Europe, it added.
The report further revealed that India nationals topped the charts for enquiries received by the firm in 2021 by a significant margin, with growth of 54 per cent compared to 2020.
US citizens were next in line, with Henley & Partners receiving 26 per cent more enquiries in 2021 after astonishing growth of 208 per cent in 2020.
Dominic Volek, group head of private clients at Henley & Partners said: “India’s 4th-place ranking and total wealth of $8.9 billion is also notable as it places the country ahead of major economies such as Germany and the UK. India has been steadily moving up the W10 over the past decade and it is expected to overtake Japan before 2040."
Besides, the US, China and Japan lead in terms of privately-held wealth.
The report further noted that investment migration has been on the surge in South Asia, with a growing number of ultra‐high- and high‐net‐worth investors focused on futureproofing themselves.
Dr Juerg Steffen, CEO of Henley & Partners, says the pandemic has also seen a significant spike in the supply side of investment migration.
“Over the last two years, many countries have created new programs or improved existing options to attract high-net-worth individuals, investors, or talented individuals. Welcoming these new residents and citizens brings considerable gains. Specifically, investment migration programs allow them to increase their sovereign equity," Steffen added.
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