"Migration is an expression of the human aspiration for dignity, safety and a better future. It is part of the social fabric, part of our very make-up as a human family". - Ban Ki-moon
Historically, migration has been second nature to humans, and people have moved to greener pastures for centuries. In the 21st century, however, passports have become a commodity that can be acquired easily by the wealthy who can afford to invest. High-net-worth Indians are specifically interested in moving abroad for education, business, better job opportunities, and now for the latest trend of having secondary residency or citizenship for better mobility. For the longest time, the obvious choice for migrating from India was towards the US EB-5 program. Many sought an American education with the option available to stay in the country after graduation to work. The long wait times didn't deter the Indian applicants from considering this option. The UK Tier 1 investor visa followed closely in popularity among the affluent Indians as investing in a property in the UK has always been a lucrative opportunity.
Why Investment Migration?
The Indian Investment Migration has seen a recent surge in numbers because of the desire to own a stronger passport. The Indian Passport has dropped to the 85th rank this year, and more and more Indians are looking for passports that allow them greater mobility and business and work opportunities. The purchasing power of the Indian population has increased immensely in the last decade, and with the growing wealth, more people are looking to invest abroad. With the new CIB and RIB schemes by various countries, it has become easier for Indians to look beyond the traditional US and UK migration programs and opt for other countries looking to make migration easier and faster for individuals wanting to invest in their economies.
What is the Golden Visa?
One such new scheme is the Golden Visa, a citizenship-by-investment or residency-by-investment program directed towards wealthy populations who want to acquire residency in a country by investing a substantial amount of money or purchasing a property. In the last few years, European Golden Visa programs like Malta, Portugal, Spain, and Greece gained popularity, and the recent UAE Golden Visa has generated broad interest. Their swift processing times and accessible investment opportunities make the Golden Visas more attractive.
Popular investment migration programs amongst Indians
Some of the countries that Indians today are looking to migrate to offer some rewarding CIB or RIB schemes.
- Portugal: One of the top picks is the Portugal Golden Residence Permit Program that has a minimum investment of Euros 280,000 in real estate and comes with the possibility of applying for citizenship after five years.
- Malta: Next in line is the Malta Permanent Residence Program, with a minimum contribution, is Euros 175,000.
- Greece: The Greece Golden Visa Program follows closely, as it provides fast-tracked residency in the country with a minimum investment of Euros 250,000 in real estate.
- Australia: Selling like hot cakes among Indians is Australia's Global Talent visa program under which successful applicants can obtain fast-tracked permanent residence for the whole family within six weeks. No investment is required for this visa, only the application, processing and other related fees and documents for qualified applicants.
- Canada: Canada has always been a welcoming country for immigrants with its Express Entry and Investor Programs. Now Quebec too offers the Quebec Immigrant Investor Program (QIIP) that requires an investment of CAD 1.2 million for five years at 0% interest. It has a minimum processing time of 48 months, and successful applicants can be eligible for citizenship after just three years of physical presence out of a five-year residency period.
With a growing appetite for emigration, high-net-worth Indians have started the great Indian investment migration wave and are actively pursuing this movement all across the globe. The Indian migration market is not just putting Indians on the world map for a brighter future, but in turn, is supporting numerous economies depending on this migration trend.
