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
The inaugural Henley Global Citizens Report released by Henley & Partners, the global leader in residence and citizenship by investment, highlighted the fact that Indian 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 — a year which itself saw a 63 per cent rise in interest shown by Indian investors. 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.
Enquiries by Britishers and South Africans shot up by 110 per cent and 38 per cent, respectively, in 2021.Dominic Volek, Group Head of Private Clients at Henley & Partners, was quoted saying, “India’s 4th-place ranking and total wealth of USD 8.9 trillion 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. In 2022, we are seeing very similar trends, with early signs of exceeding last year’s stellar overall growth. The combination of W10 countries and developing economies that make up our Top 10 reflects the universal appeal of investment migration for affluent families.”
Nirbhay Handa, Group Head of Business Development at Henley & Partners and Head of the firm’s Global South Asia team, said: “Investment migration continues to surge in South Asia, with the concept rapidly gaining greater public acceptance. A growing number of ultra-high- and high-net-worth investors focused on futureproofing themselves and their families are increasingly seeking out alternative residence and citizenship options. Henley & Partners saw a 52 per cent increase in client enquiries in 2021 compared to 2020 across South Asia, and 2022 looks to be another year of significant growth.”
The nationalities showing the greatest appetite for investment migration whereby wealthy investors acquire alternative residence or additional citizenship in exchange for making a substantial contribution to the host country were India, the US, and the UK. The past two years have seen three Cs driving wealth and investment migration: Covid, climate change, and cryptocurrency. In 2022, a fourth C has abruptly emerged: conflict in Europe
Juerg Steffen, CEO of Henley & Partners, said that the pandemic had also seen a significant spike in the supply side of investment migration. “Over the last two years, many countries have created new programmes 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 programmes allow them to increase their sovereign equity, a concept pioneered by Henley & Partners. The premise of this approach, via residence and citizenship by investment programmes, is to improve a country’s public finances and support its economic growth and employment creation without increasing its debt. In the current context of consecutive crises, which have slowed the world’s economy and affected many nations’ fiscal balances, it is unsurprising to see interest in investment migration surging. It works for sovereign states by diversifying their economies and creating new revenue streams, and it works for investors by diversifying their options, spreading their risks and creating new possibilities. It’s a classic win-win for both sovereign states and investors alike.”
The report also mentioned that the top three countries in terms of privately-held wealth were now the US, China, and Japan with India as the fourth country. The nationalities showing the greatest appetite for investment migration whereby wealthy investors acquire alternative residence or additional citizenship in exchange for making a substantial contribution to the host country were India, the US, and the UK. The past two years have seen three Cs driving wealth and investment migration: Covid, climate change, and cryptocurrency. In 2022, a fourth C has abruptly emerged: conflict in Europe.
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