Indian Millionaires moving towards Overseas, says study

Last Updated on December 11, 2018 by West Highlander Team

The survey carried out by NW Wealth reveals that 23,000 Indian millionaires immigrated since 2014. In 2017, it was 7000 Millionaires who chose and overseas destination. If compared to other countries’ millionaires, Indians are more in numbers who had migrated overseas, said Ruchir Sharma, Morgan Stanley Investment Management Chief Global and Strategist and Head of Emerging Markets.

“This is the third wave of immigration from India. The first was of marginal and poor farmers who migrated to western nations” said Mainstreet Equity Corp Chief Executive Officer and Canadian-Indian Real Estate magnate Bob Dhillon. He further said that “the second was of professionals who migrated immigrated overseas from India In search of a better lifestyle and now it is the Indian millionaires who are migrating abroad”.

He also said that Canada is a most-loved country for well established and young business people and professionals from India.  Canada is transforming its fabric and it offers life-quality like health, infrastructure, and education. Indians are achieving great success in diverse walks of life in Canada, added Dhillon, as quoted by the Economic Times.

Various wealthy parents in India after an age of 40 are immigrating overseas to lead a quality life and future to their children.  Due to quality life issues, several Indians who have gone to overseas find it tough to return India after they have worked and lived overseas said a local lawyer of Mumbai.

For the HNWI Indians who have entrepreneurial dreams and plan to tap overseas markets, the US is also a big draw. The US EB-5 investment pathway to secure green card is famous in Indians. It is famous because of its inexpensiveness and offers security to an immigrant. The program is also a pathway to Green Card for several families and to offer US education to their kids.

For the HNWI Indians who have entrepreneurial dreams and intend to tap overseas markets, the US is also a big draw. The US EB-5 investment pathway to a quicker Green Card is popular among Indians. The reason is that it is as less expensive and secure than other citizenship processes in several other nations.  It is also applicable for those professionals who are suck in the infinite H-1B backlogs.

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