Explosive 129 Surge: NRIs Flock to Overseas Retirement Havens

Unveiling a Global Trend as Non-Resident Indians Embrace New Horizons After Retirement

PRAVASISAMWAD.COM

Amidst the contemplation and reassessment that retirement brings, an increasingly noticeable trend is emerging among Non-Resident Indians (NRIs) – a significant inclination towards settling in foreign countries post-retirement.

With India boasting the largest diaspora globally, standing at a staggering 18 million individuals living abroad as of 2022, this migration towards foreign shores post-retirement is garnering attention.

Data from the Ministry of External Affairs reveals a striking 129% increase in the issuance of Overseas Citizen of India (OCI) cards to NRIs acquiring foreign citizenship, soaring from 1.7 million in 2015 to 3.9 million in 2022

Many NRIs, having spent years contributing to foreign economies, particularly in countries like the United States, Canada, Australia, and the United Kingdom, are now opting for permanent residency or citizenship in these nations.

While precise figures on the number of NRIs choosing foreign citizenship after retirement remain elusive, there are telling signs of this upward trajectory. For instance, data from the Ministry of External Affairs reveals a striking 129% increase in the issuance of Overseas Citizen of India (OCI) cards to NRIs acquiring foreign citizenship, soaring from 1.7 million in 2015 to 3.9 million in 2022.

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