Indian news organ thehindu.com has announced that Antigua and Barbuda and Grenada are on the list of top destinations of rich Indians searching for alternative homes.
High net worth individuals are also making a beeline for Greece, Portugal, Thailand, Canada and Hong Kong, the site said.
Goldenvisas.com, meanwhile, notes that there are in total five Caribbean countries offering citizenship through investment programmes, namely Antigua & Barbuda, Dominica, Grenada, St Kitts and St Lucia.
The site explains that these countries are popular with those looking for a second passport which can offer them visa free travel to over 100 – 140 countries worldwide, including access to the EU Schengen zone and the UK.
“The wealthy are leaving for “safety, financial stability, high taxes and religious or political tensions.”
According to the hindu.com, the number of Indian high net worth individuals (HNIs, with wealth of US $1 million) and ultra-high net worth individuals (UHNIs, with wealth of US $50 million onwards), acquiring citizenship in foreign countries is growing.
Over the last 24 months, it noted that Indians chiefly selected Greece, Portugal and Thailand (2019), and Canada, Portugal and Hong Kong (2018), while for citizenship, they mainly applied to Malta, Cyprus, Antigua and Barbuda, and Grenada (2018 and 2019), the site outlined.
thehindu.com quoted Dominic Volek, managing partner and head of Southeast Asia, Henley & Partners, an investment migration firm as stating that an increase in demand from the wealth migration segment is expected.
The wealthy are said to be leaving China, India, Turkey and the U.K. for “safety, financial stability, high taxes and religious or political tensions,” the site indicated.