Report: 61,000 Indian Millionaires Shifted Overseas in Last 14 Years

Wealthy individuals are mobile and can relocate to jurisdictions that offer competitive taxes, schools, business opportunities and security. Globalization and improved transportation, communications along with second citizenship have contributed to mobility. The report from New World Wealth and LIO Global covers the years 2000 to 2014 and points to the top senders as China, 91,000; India, 61,000; France, 42,000; Italy, 23,000; and Russia, 20,000. The United Kingdom, the United States, Singapore, Australia and Hong Kong are listed as the top recipients for wealthy individuals. The report defines “high net worth” as holding US $1 million or more, excluding a personal residence. The countries reporting the most millionaires include China with 4.1 million, Japan with 1.2 million, UK with 840,000, Germany with 821,900 and China with 608,500. – YaleGlobal