The rapid increase in Covid-19 cases across India has reportedly pushed many affluent Indians, including businessmen and corporate chiefs, professionals and wealthy individuals and families, to give a concrete shape to relocation plans to foreign countries offering better lifestyle and healthcare services.
Many immigration consultants are witnessing a surge in queries from Indians to move out of the country because many of them have lost confidence that they can get a hospital bed and proper medicines in hour of need if get infected by the deadly virus. Countries such as the UK, Canada, Cyprus, Malta, Portugal, Australia, and the US are the most favoured foreign places.
Many high net worth individuals (HNIs) are beginning to feel the pinch of the surging second wave of Covid-19 infections, and they are planning to set up businesses or investing in those overseas destinations. Further, in the current circumstances, they are ready to look beyond English-speaking countries, such as Germany, Spain, France, Poland, Sweden and Denmark, to relocate.
Currently, there are many super rich Indians who are exploring options to settle outside India. Better healthcare and infrastructure are the main reasons for migrating to other countries.
Immigration specialists say Britain remains a top choice for Indians looking to settle in as it provides more avenues for investors and skilled workers from countries such as India following the UK’s departure from the European Union. More importantly, the UK offers its National Health Service to migrants and their families on certain visas, including investor and skilled-work visas, according to a report in the ET.
Many lawyers and immigration experts told the publication that they were processing about 40 per cent more immigration-related enquiries as well as advisory work compared with a year ago.
According to a report by the United Nations, India has the largest diaspora population in the world with 1.8 crore people from the country living outside their homeland in 2020. India’s large diaspora is distributed across the United Arab Emirates (35 lakh), the United States of America (27 lakh) and Saudi Arabia (25 lakh). Other countries hosting large numbers of Indian migrants included Australia, Canada, Kuwait, Oman, Pakistan, Qatar, and the UK, the report mentioned.
“We are happy to promote ventures outside the country. There is a saturation level within existing setups and systems in India. In fact, my younger son is keen to work at a leading startup firm based out of the US,” a promoter of a medium-sized fast-moving consumer goods (FMCG) company told the business daily on the condition of anonymity.
Many countries have rolled out up-to-date business support infrastructure and the young generation at many promoter families are ready to take advantage of the opportunities, the financial daily quoted an unnamed counsel at a top legal firm in India as saying.
The business daily cited Mahrukh Umrigar, senior partner at boutique law firm Consortia Legal, as saying a majority of wealthy Indians want long-term solutions such as permanent residence or citizenship via long-term visas through investments in business or property.
