India is witnessing a growing trend of wealthy individuals and families relocating abroad, prompting fresh debate about the economic, regulatory, and personal factors behind this shift. According to recent data and expert analysis, more than 6,500 high-net-worth individuals (HNWIs) are expected to leave India in 2025 alone—a number that places the country among the top nations in terms of millionaire outflow.
While this migration does not imply a loss of citizenship in all cases, it raises important questions: Why are the rich leaving India? What motivates this wave of global relocation? And which countries are they heading to?
India’s Wealth Exodus: The Numbers Behind the Trend
India ranks third globally after China and Russia in terms of net outflows of HNWIs. In 2023 alone, 5,100 Indian millionaires relocated abroad, and the number is set to rise sharply in 2025, according to data from investment migration consultancies like Henley & Partners.
The trend includes entrepreneurs, startup founders, real estate investors, business families, and second-generation wealth inheritors. While the overall wealth creation in India remains robust—with the country expected to see 80% growth in millionaires by 2031—a significant section of the rich are choosing to secure residency or citizenship abroad as a way to diversify personal and financial risks.
Key Reasons Why India’s Rich Are Moving Abroad
1. Global Mobility and Travel Freedom
Access to powerful passports or long-term residency in the EU, UK, or North America offers greater ease of travel for business and leisure. Indian passport holders face visa restrictions in many parts of the world. In contrast, countries offering golden visas or investment migration programmes provide visa-free access to a much wider list of nations.
2. Tax Planning and Financial Diversification
Many HNWIs explore low-tax or no-tax jurisdictions to legally optimise their wealth. Countries like the UAE, Monaco, and Portugal offer tax-friendly regimes. While India has strengthened its crackdown on tax avoidance, legitimate overseas residency gives HNWIs flexibility in global financial planning and estate management.
3. Better Quality of Life and Education
Residency or citizenship abroad opens up access to world-class healthcare, lifestyle, and education systems—top priorities for many families. Countries like Canada, Australia, and the UK remain attractive for families seeking better schooling and a safer environment.
4. Political and Regulatory Certainty
Uncertainty around regulatory frameworks, wealth taxation debates, and political developments in India have made some HNWIs explore “plan B” options. Stable legal systems and investor-friendly policies abroad are seen as safer environments for long-term wealth preservation.
5. Business Expansion and New Markets
Some business families use global relocation as a strategy to expand their international footprint. Gaining residency in countries with better business ecosystems—like the UAE, the UK, or Singapore—opens new avenues for trade, partnerships, and investments.
Where Are India’s Rich Heading?
According to migration consultants and investment experts, these are the top destinations Indian HNWIs are targeting:
1. United Arab Emirates (UAE)
Dubai remains the most popular destination for Indian millionaires due to its proximity, tax-free status, lifestyle benefits, and robust Indian community. UAE’s 10-year Golden Visa for investors and professionals is a key attraction.
2. United States
The EB-5 Immigrant Investor Program allows individuals to obtain a green card by investing a minimum of $800,000 in U.S. projects. The U.S. also remains popular for its education and business ecosystem.
3. Portugal
Portugal’s Golden Visa programme, which offers residency in exchange for real estate or capital investment, has become a favourite for Indians seeking access to the EU and eventual citizenship.
4. Australia and Canada
Both countries are magnets for Indians seeking family security, education, and long-term residency. With skilled migration and investment-based options, they remain among the top three relocation choices.
5. Singapore
Favoured by startup founders and tech entrepreneurs, Singapore offers business-friendly policies, global connectivity, and a high standard of living.
6. Greece and Malta
These countries offer EU residency or citizenship through real estate investment programmes and have seen rising Indian interest in recent years.
Investment Migration: A Growing Industry in India
The rise in outbound interest has turned investment migration into a booming industry. Indian wealth management firms are now collaborating with global partners to offer tailored migration services. From navigating visa applications to identifying real estate and financial investments abroad, high-end advisory services are in demand.
Henley & Partners, LRS-based advisors, and other boutique firms have all seen a spike in inquiries from Indian clients in the last two years. The Liberalised Remittance Scheme (LRS), which allows individuals to remit up to $250,000 per financial year, is often used to fund initial investments for golden visa programmes.
Not Just Migration—A Hedging Strategy
It’s important to note that most of these wealthy individuals retain strong ties to India. Many keep their primary businesses and families rooted in India while securing secondary residency or citizenship abroad. For many, it’s less about abandoning India and more about hedging against uncertainties and securing global access for their next generation.
Dual citizenship is not permitted under Indian law, but several countries offer residency without requiring citizens to renounce their original nationality, making the option attractive for those seeking global mobility without giving up Indian citizenship.
Will This Trend Hurt India?
Economists and analysts are divided. While the flight of wealth and talent can affect domestic investments, many argue that the wealth creation engine in India remains strong, and outbound migration is part of the natural evolution of a maturing economy.
Moreover, wealthy NRIs continue to invest in Indian markets, startups, and philanthropic ventures. In fact, many overseas citizens play a vital role in creating cross-border linkages and driving India’s global economic influence.
However, experts warn that India must focus on regulatory clarity, ease of doing business, and wealth protection policies to prevent brain drain and financial outflows.
The global ambitions of India’s wealthy are not new—but the scale and pace of outbound mobility are now more visible and structured. Whether driven by aspirations for a better lifestyle, global access, or strategic financial planning, India’s rich are increasingly becoming global citizens.
As the investment migration industry grows and foreign governments roll out attractive programmes to court wealthy individuals, India may need to respond not by tightening borders but by making its economic environment even more predictable, rewarding, and secure for those who choose to stay.
In an interconnected world, wealth has wings—and today, more Indians than ever are learning how to use them.
