In today's interconnected world, the concept of global citizenship is taking on new dimensions, especially for India's affluent families. This article delves into the evolving landscape of residence, citizenship, and education planning, as explored by Dominic Volek of Henley & Partners at the Hubbis India Wealth Management Forum 2026.
The Changing Landscape of Indian Wealth
Indian wealth is no longer confined to national borders. With children pursuing education and careers abroad, family businesses operating globally, and assets spread across jurisdictions, the traditional focus on investments, tax, and estate planning is shifting to include residence and citizenship considerations.
Optionality: A Key Driver for HNW Families
Many high net worth (HNW) families are seeking additional residence rights or mobility options, not necessarily with the intent to leave India. This desire for optionality stems from a range of factors, including the need for enhanced mobility, education planning, and even contingency planning in an increasingly uncertain geopolitical climate.
Mobility and Practical Concerns
European residence programs offer Indian nationals easier access to the Schengen Area, providing a practical solution for those seeking enhanced mobility. Other programs around the world offer unique residence or citizenship benefits, catering to the diverse needs of global families.
Education: A Long-Term Perspective
Education planning is a critical aspect, but it goes beyond securing admission to overseas universities. Families must consider the post-graduation prospects of their children, including their ability to work and build careers in the host country. This long-term perspective is essential for successful education planning.
Tax Considerations and Genuine Relocation
Holding an additional residence or citizenship does not automatically alter tax residence. Genuine relocation and adherence to domestic tax rules are crucial factors. This distinction is particularly important for Indian nationals, as India does not permit dual citizenship, and Overseas Citizen of India (OCI) status is not considered dual citizenship.
A Holistic Advisory Approach
Henley & Partners takes a comprehensive approach to advisory services, offering expertise across more than 60 residence and citizenship options. Their services extend beyond these core areas, encompassing real estate, education, and concierge support. This holistic approach ensures that residence and citizenship planning is integrated into the broader wealth management strategy.
The Evolution of Indian Families
The changing dynamics of Indian families are a key driver of this trend. As Volek notes, "Three generations ago, families were thinking regionally, two generations ago nationally, and now they are thinking globally." This shift is evident in families where the founders remain in India while children pursue opportunities abroad, and in businesses that operate across multiple markets.
Triggers for Residence and Citizenship Planning
There is no single trigger for residence and citizenship planning. Factors such as tax and policy reforms, geopolitical volatility, succession issues, and the needs of the next generation can prompt families to reassess their position. Attractive residence programs, predictable jurisdictions, and better mobility options create opportunities for families to explore these avenues.
The Role of Advisors
Private bankers, wealth managers, family offices, and lawyers play a crucial role in initiating conversations around residence and citizenship planning. Henley & Partners often becomes involved when these broader client conversations reach a point where specialized advice is required.
Mobility and Contingency Planning
For many Indian clients, the appeal lies in having an alternative option without committing to an immediate move. This provides a sense of security and flexibility, especially in an uncertain world. European residence programs are particularly relevant for Indian passport holders, who often face visa requirements in major destinations.
Education and the Next Generation
Education is a significant driver of demand from India, particularly for families considering the US. Henley & Partners' education advisory team works with families across a range of destinations, helping them navigate the admissions process and plan for their children's long-term future.
Tax, Lifestyle, and Legacy Considerations
Tax considerations come into play primarily when clients are open to physical relocation. Jurisdictions like the United Arab Emirates (UAE), Singapore, and Hong Kong can be attractive to wealthy international families. Acquiring residence provides the right to move, but the tax outcome depends on the individual's actions and the residence rules of the jurisdiction.
Lifestyle factors, such as climate, air quality, healthcare, and retirement plans, also influence residence decisions. Some larger business owners choose to move family members abroad while continuing to commute themselves, balancing business needs with personal preferences.
Finding the Right Program
While well-known programs often dominate the conversation, the range of residence and citizenship options is vast. Henley & Partners works across more than 60 options, taking a program-agnostic approach. The starting point is always the client's unique situation and their goals for the additional residence or citizenship.
The Role of Advisors in the Process
Henley & Partners collaborates with advisors through referrals, joint mandates, and meetings where their specialists work alongside the client's existing advisory team. Their role is complementary, ensuring that residence and citizenship planning is integrated seamlessly into the broader advisory relationship.
A Practical Approach to Planning
Residence, citizenship, and education planning are not relevant to every Indian family. However, for those with international businesses, children, and assets, it is becoming an essential part of planning for the future. As Volek concludes, "For those whose businesses, children, and assets are already international, it is becoming a practical part of planning what comes next."
This evolving landscape of global citizenship planning highlights the need for a holistic and personalized approach, taking into account the unique circumstances and goals of each family.
