Skip to content
Search

Latest Stories

India to consider dual citizenship as ‘Global Indians’ dominate international business

DRAFT legislation currently before the Indian parliament to allow dual citizenship has been widely applauded by the biggest diaspora in the world as it is likely to provide significant benefits for its members.

The concept of ‘global Indians’ has grown through the phenomenal success of the Indian diaspora across the international business, media, and cultural communities.


Dominic Volek, Head of Southeast Asia at London based investment migration firm, Henley & Partners said: “There has been a noteworthy spike in interest recently among high-net-worth Indian nationals regarding residence-by-investment options.

“We have seen a significant increase year on year of Indian citizens looking to manage their global mobility challenges and invest in residence-based programs. Amending the constitution to allow dual citizenship would allow Indians to take advantage of belonging to multiple jurisdictions, providing them with greater freedom, opportunity, and ease of international travel.

“Moreover, holding two passports makes it easier to retain community ties within a country of origin while also being an active civic participant in a new home country.”

India’s opposition MP Shashi Tharoor introduced a bill a few weeks ago to amend the Indian Constitution, which currently requires that Indian nationals give up their passports once they have obtained citizenship of another country.

Tharoor argues that many Indians have migrated abroad for new opportunities- seeking access to a higher quality of life, better education, high-paying jobs in multilateral organizations, or merely for mobility and travel freedom and taking a foreign passport for convenience does not make them any less Indian.

According to the UN World Migration Report 2018, over 15.6 million Indians are living in other countries, making it the largest mass dispersion of a population globally.

The 2019 Wealth-X report states that India is one of the top 10 fastest-growing high-net-worth countries, alongside other Asian countries such as Bangladesh, China, the Philippines, and Vietnam.

Statistics show that there has been significant interest from Indian clients, centred on Greek, Maltese, and Portuguese residence programs in Europe, where minimum investments start at €250,000, €330,000, and €250,000, respectively.

Outside the EU and Europe’s Schengen Area, the Thailand Elite Residence Program, the UK Investor Immigration Program, the US EB-5 Immigrant Investor Program, and various investor visas in Australia including the Significant Investor Visa (SIV) stream are also very popular options.

More For You

Trump’s Promise: TikTok Deal Before April 5 to Avoid Ban

This is not the first time that TikTok has been under scrutiny in the United States

Getty

Trump promises TikTok deal before April 5 to prevent ban

As the clock ticks towards the April 5 deadline, the future of TikTok in the United States remains uncertain, with President Donald Trump promising that a deal to resolve the app's ongoing issues will be struck before the deadline. The central issue at hand is whether TikTok's parent company, ByteDance, will be forced to divest the popular social media platform or face a ban in the U.S.

In a statement made aboard Air Force One late on Sunday, Trump confirmed that there was "tremendous interest" from potential buyers looking to acquire TikTok. He expressed his desire for the platform to "remain alive" and emphasized that multiple buyers were keen on striking a deal, suggesting that a solution would be reached before the deadline.

Keep ReadingShow less
Primark-London-Getty

During his 15-year tenure, Marchant expanded Primark’s store network to more than 450 locations across 17 countries in Europe and the United States. (Photo: Reuters)

Primark chief Paul Marchant steps down after misconduct probe

PAUL MARCHANT, the head of fashion retailer Primark, has resigned with immediate effect after admitting to an "error of judgment" in his behaviour towards a woman in a social setting.

Associated British Foods (AB Foods), Primark's parent company, announced his resignation on Monday.

Keep ReadingShow less
Jaguar’s bold gamble: Can it woo young, wealthy drivers with a £123k EV?

Jaguar’s bold gamble: Can it woo young, wealthy drivers with a £123k EV?

JAGUAR’S ambition to seduce younger, richer drivers was on full display in Paris with a presentation of its newest prototype, the Type 00, which promises all-electric luxury... at a steep price.

The low-slung, muscular-looking concept car presented to European reporters last Friday (21) prefigures a production model expected mid-2026 at a base cost of €150,000 (£123,472.8).

Keep ReadingShow less
Starmer-Trump-Getty

Trump has suggested the possibility of a 'great' trade deal that could help the UK mitigate the impact of tariffs he has pledged to introduce. (Photo: Getty Images)

Starmer, Trump talk trade deal progress in 'productive' discussion

KEIR STARMER and Donald Trump spoke on Sunday about ongoing UK-US trade negotiations, with Downing Street describing the talks as "productive."

Since leaving the European Union, the UK has been working to secure a trade agreement with the United States. Successive British governments have pursued a deal, but it has remained elusive.

Keep ReadingShow less
modi-trump-getty
Trump shakes hands with Modi during a joint press conference at Hyderabad House in New Delhi on February 25, 2020. (Photo: Getty Images)

India-US trade talks end with no sign of tariff relief

INDIA and the United States have agreed to move forward on finalising a part of their bilateral trade deal this year, but there was no indication of any tariff relief for India.

Trade discussions took place in New Delhi ahead of the implementation of US president Donald Trump's new trade tariff regime, which includes import levies on India, set to take effect from 2 April.

Keep ReadingShow less