At least 22 percent of the very rich people in the country want to settle in India due to reasons like living in India, better living standard abroad and facility in other countries.
A survey conducted between 150 persons over -wealthy found that the US, Britain, Australia, Canada and even the United Arab Emirates (UAE) are their favorite destinations due to their ‘Golden Visa’ scheme, where rich people prefer to settle.
The country’s leading property manager company Kotak Private has conducted this survey with consulting company EY.
According to the Ministry of External Affairs, every year 2.5 million Indians go to settle in other countries.
Its findings stated, one of the five wealthy people involved in the survey are currently in the process of migration or planning to migrate. Most of them want to reside in the country of their choice by maintaining their Indian citizenship.
It said, they want to improve the standard of living, health care solutions, education or lifestyle. More than two-thirds of the people also described business ease as the main reason for this.
The people involved in the survey described the decision of the migration as “investment in future” said that the desire for excellent higher education for their children inspires them to choose this option.
However, Kotak Mahindra Bank Chairman Gautami Gavankar said that the decision of transfer should not be seen as out of capital from the country.
He said that by setting the limit of going out of capital, it is ensured that even if a person changes his place of residence, the money will not go out.
Gawankar said that an Indian citizen living in India can withdraw only US $ 2,50,000 per year, while a migrant is allowed US $ 1 million to ensure that the capital will not go out of the country.
