Indian Millionaires Migration: Indian millionaires who are making money abroad.. are mostly migrating to this country..!

Indian Millionaires Migration : Our India is one of the developing countries in the world. However, in today’s competitive world, India is developing day by day in many fields. However, many of our Indians are leaving their own country and migrating to neighboring countries. Most of them are Indian millionaires. Among them, from investors to businessmen, Indian millionaires from many fields are engraved on airplanes saying ‘Hello Abroad’.

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Many millionaires have already moved to other countries. According to a recent report by international investment migration consultancy Henley and Partners, around 4,300 millionaires will leave India this year (2024). In the same report last year, 5,100 Indian millionaires relocated abroad.

New millionaires with 85% wealth growth:

As the world’s fastest growing economy, India is expected to be the third largest in the world in terms of millionaire immigration after China and the UK. India has now surpassed China as the most populous country in the world. India’s net millionaire exodus is less than 30 percent of China’s. While India is losing thousands of millionaires every year, many are migrating to the UAE.

With wealth growth of 85 percent over the past decade, the Arab nation continues to produce new millionaires. The report said that there is no need to worry about increased migration. Many of the emigrating millionaires not only have business interests in India but also own houses in their own country, the report said. It said that it represents the ongoing economic relations with India.

Expanded Investment Advisory Sector in UAE:

Indian private banks and wealth management platforms are expanding in the UAE to provide clients with the investment services they need. For example.. Nuama Private, LGT Wealth Management. Both support Indian clients with global diversification and expansion needs.

Similarly, other banks are also increasing their presence in the UAE. Providing competitive wealth management services to Indian families. Kotak Mahindra Bank is joining 360 One Wealth Dots to provide wealth management services to Indian families settled in the UAE, Henley’s report said, ensuring that it does not lose out to its competitors.

Significance of Millionaire Migration :

It is estimated that around 1,28,000 millionaires will migrate globally in 2024. The countries of UAE and USA are mainly at the top of the list of destinations. Migrant millionaires are taking assets with them to invest heavily in foreign exchange reserves. With that, the local stock markets are also being revived through investments and equity placements.

Moreover.. many businesses established by millionaires are paying huge wages and creating jobs. Among the tech giants, companies like Microsoft, Apple and Tesla are increasing their presence in the USA. A millionaire is actually a person who has liquid investable assets of one million dollars or more.

Reasons for Migration:

Indian millionaire families migrate to other countries for various reasons including security, financial considerations, tax benefits, retirement opportunities, business opportunities, convenient lifestyle, educational opportunities for children, health care systems, overall living standards.

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