In summary, the UAE’s allure for Indian millionaires is part of a larger global pattern of wealth migration, reflecting both the country’s favorable conditions for affluent individuals and the dynamic shifts in global economic centers
In a significant shift in global wealth migration, the Henley Private Wealth Migration report for 2024 reveals that approximately 4,300 Indian millionaires are set to relocate to the United Arab Emirates (UAE) this year. This trend underscores India’s prominence among countries experiencing high-net-worth individual (HNWI) departures.
The UAE’s appeal to Indian millionaires is driven by several factors. The country’s zero-income tax policy, golden visa programs, and luxurious lifestyle in a strategic location make it an attractive destination. The UAE is estimated to attract a total of 6,700 wealthy immigrants by the end of 2024, thanks to its robust regulatory framework and innovative solutions designed to preserve, protect, and enhance the wealth of immigrants.
This large-scale movement will significantly impact the global economic landscape, with major destinations like the United States, Canada, Singapore, and Australia poised to benefit from the influx of wealthy immigrants contributing to their economies and job markets
Indian millionaires are also prominent participants in various citizenship and residence by investment programs worldwide. Popular choices include Portugal’s Golden Residence Permit Program, Greece’s Golden Visa Program, Spain’s Residence by Investment Program, and Malta’s Citizenship by Naturalisation for Exceptional Services by Direct Investment. Caribbean nations like Antigua and Barbuda, and Grenada, also attract Indian investors with their Citizenship by Investment Programs.
The 2024 report by Henley and Partner highlights a broader global trend, predicting the relocation of around 128,000 millionaires worldwide.
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