Global Citizenship Catching Fancy of Super-Rich in India, China: Report

The wealthiest in the world have the means and will to seek out new locations offering the most in comfort or tax relief. China and India together have more than 25,000 citizens with ultra high net worth, accounting for one of seven worldwide, according to an inaugural report on the super-wealthy from Wealth-X and UBS. “With each country already having large non-resident populations, the precedent of moving abroad has already been made, and so as those countries' UHNW populations grow, there is likely to be an increase in non-resident population as well, the report added,” reports Press Trust of India for the Times of India. “Some of the reasons for seeking a second citizenship include greater stability and security, tax efficiency, ease of travel, higher standard of living, increased options for children's education, and investment opportunities that may not otherwise be available.” Countries like the United States, the United Kingdom and Canada design immigration policies to attract wealthy citizens. – YaleGlobal