6,500 HNWIs are likely to leave India in 2023, making it the second-highest country in terms of HNWI outflow after China. Top destinations for migration are Australia, UAE, Singapore and the US.
The five-year residence-by-investment programme for non-European Union (EU) nationals has served its purpose, hence it is no longer justified to keep it, Portugal Prime Minister Antonio Costa said.
The residence programmes of Portugal, Australia, the US, Malta and Greece are among some of the most popular with rich Indians, according to Henley & Partners.