Golden Visa: Indians Seeking to Emigrate Through Investment Route Doubles During Pandemic

New Delhi: As Golden Visa opportunity looks attractive for many who are wealthy, visa consultants observe that the number of Indians seeking to emigrate through the investment route has doubled during the pandemic from the previous year. This has notably outpaced the global average growth of 50%. As per updates, a number of wealthy Indians are exploring this golden visa programme, which offers them residency and citizenship in exchange for a large investment. Also Read – Watch Video: How to Start Investing in Share Market | Basic Tips For Beginners

Speaking to Mint, Elizabeth Edwards, marketing manager at La Vida Golden Visas, the UK, said that the demand from Indians has always been very strong, but since the pandemic, demand has increased from all over the world, including Indians. Also Read – Who is Eligible For 10-year Residency in UAE? All You Need to Know About Gulf Country’s Expanded ‘Golden’ Visa Scheme

People looking for residency in a foreign country by investing in a business or by purchasing property can apply for this golden visa as this facility caters to high net worth individuals (HNIs). Also Read – India an Attractive Investment Destination, Says Anurag Thakur

Interestingly, Portugal offers the  golden visa residency programme which is the most popular among Indians seeking to emigrate to the European country.

For many wealth Indians, international business or children’s education in top schools in Europe, the UK or the US, are some of the key factors that drive their decisions to opt for the investment visa programmes.

According to updates from Global Wealth Migration Review India has witnessed the third highest outflow of wealthy individuals last year and nearly 5,000 millionaires, or 2% of the total number of high net worth individuals in India, left the country in 2020.

As per the immigration consultants, the passports have become the new safe haven, offering safety and asset protection for families. However, a second passport, giving dual citizenship status, is mandatory for any high net worth individual investor in their investment portfolio to cover against global crisis and uncertainties.

All must note that the European programmes are more expensive as the entry-level for a golden visa real estate purchase in Portugal is USD280,000. However, the preferred countries among Indians are New Zealand, the Caribbean Islands, Portugal, Malta, Spain, Cyprus and Greece. Moreover, other countries such as Malta, Cyprus and the Caribbean nations of St. Kitts, Antigua, Grenada and Dominica also allow Indian citizens to apply for a second passport.