With US President Donald Trump announcing on Wednesday, what promises to be an easier to get, with shorter waiting time and perhaps less strings attached, ‘Golden Visa’, will there be an outflow of Indian “Richie Riches” to the “land of the free and the brave”?

Last year according to estimates by Henley Private Wealth Migration Report 2024, over 4,300 dollar millionaires migrated out of India to greener pastures or nations whose passports allowed them to roam the world better. The figure was slightly less than 5,100 who are believed to have deserted India in 2023. Nearly 25,000 millionaires moved out over the last five years according to wealth and investment consultants. Most of them retained business interests and homes in this country but shifted out to countries ranging from UAE, tax-free destinations in the Caribbeans, Singapore, Europe, Canada, and the US.

Opinions differed on whether there would be a rush to US consulates in India for a Golden Visa. Said Amb. Pinak R........

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