In 14 Years, Great Number Indian And Chinese Millionaires Have Settled Overseas

30 Jul 2015

During the last 14 years, nearing to 61,000 Indian Millionaires have  already left India and have settled overseas. Secondly, only China saw an exodus of 91,000 according to the report by the Consultancies of New World Wealth and LIO Global.

Italy, Russia, France, Indonesia, South Africa and Egypt are top 8 as per the study cited by Time Magazine.

We find, both India as well as China are facing an exodus of their wealthiest citizens especially high net worth individuals have left to seek the greener pastures according to the news report

This month, the Study released, immigration data from 2000 and 2014, which has indicated applications for second citizenship or change of domicile (permanent Residence).

London, capital city of London, appears to be the most popular destination, especially for the world’s rich to settle down in, followed by US, Australia, Singapore and Hong Kong.

According to the report, we find Indians mostly prefer  to move to nations such as Australia(kangaroo nation) and United Arab Emirates(especially Dubai). And for Chinese Wealthy individuals the popular destinations are Singapore and Hong Kong.

Even though there has been large scale departure of millionaires, India still has the 10^th largest number of millionaires at 226, 8000 while China in 5^th position with 608,500. With 4,105,000 millionaires, US tops the list.

“Those who leave generally cite the reasons such as turmoil in home nations, security concerns and optimizing education of children”. The Report quoted.

Britain is considered a top beneficiary of HNWIs from abroad. Most of these HNWIS came from Russia, Europe, China and India.

Inflows into US predominantly came from China. We find notable numbers also came from India, Britain and Russia.

Singapore is in 2nd place benefited from a strong migration of HNWIs from India, China and Indonesia.

Australia was boosted by strong inflows from South Africa, British and Asia Pacific region.

Indian HNWIs tended to move to  Australia , UAE, US and  Britain 

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