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HomePressReleasesExpert Citizenship Firm Explains What's Behind India's Exodus of Millionaires

Expert Citizenship Firm Explains What’s Behind India’s Exodus of Millionaires

In recent years, an increasing number of Indians have given up their citizenship. Government officials said over 100,000 Indians surrendered their citizenship in the first nine months of 2021, and more than 600,000 Indians renounced their citizenship over the last five years.Reports also indicate that many of those renouncing their Indian citizenship are high-net-worth individuals. Currently, India stands at the top of Morgan Stanley’s ‘Exodus in the World’ list, reporting that around 35,000 Indian entrepreneurs of high net worth left between 2014-2020.Although the reason for a large number of Indians surrendering their citizenship was not stated by officials, in 2018, the Ministry of Home Affairs revised the declaration of renunciation of citizenship form for the first time to include a column on “circumstances/reasons due to which applicant intends to acquire foreign citizenship and renounce Indian citizenship”.Paul Singh, Director CS Global Partners”Majority of Indians, especially those who want to do business internationally, renounce their citizenship or leave their country because of the privileges they get under citizenships of other countries, especially those with strong global mobility options that prioritise safety, security, cleanliness and a healthy environment,” says Paul Singh. Singh is the Director of CS Global Partners, the world’s leading government advisory and marketing firm that specialises in assisting second citizenship seekers with solutions through citizenship by investment.Where once citizenship was limited to countries that individuals had a connection to, it has become increasingly common to invest in a country’s economy in exchange for citizenship. These initiatives, known as citizenship by investment programmes, can be found in over a dozen countries across the globe and have become a trusted route to a second citizenship.”Canada, Australia, the UAE and Singapore have long been hotspots for professional Non-resident Indians (NRIs),” said Singh. “But these countries have either long residency or citizenship processes or high investment thresholds that impose limits on time-poor individuals.”A nation rising in popularity as a second citizenship solution for Indians, Singh says, is the Federation of St Kitts and Nevis. The country is located in the Lesser Antilles in the Eastern Caribbean region and is a member of the British Commonwealth. Its stable political climate has enabled it to maintain membership in various regional and international organisations, including the United Nations. Moreover, in terms of population and geographical size, the Federation is the smallest sovereign state in the Americas.The St Kitts and Nevis Citizenship by Investment Programme was founded in 1984 and is the world’s oldest. It is globally recognised and respected and has its legal foundations in the Constitution of the country. Through St Kitts and Nevis’ second citizenship programme, the government focuses on enabling fluent direct foreign investment into real estate endeavours and funds for national growth.In 2021, the Financial Times’s PWM magazine appointed St Kitts and Nevis as the best CBI Programmes in the world. The report highlighted: “St Kitts and Nevis once again leads the Citizenship Timeline pillar by virtue of its Accelerated Application Process, which offers citizenship to qualifying applicants within a maximum of 60 days and, under certain circumstances, as little as 45 days. For applicants who do not want to pay a premium, St Kitts and Nevis’ standard route has an average processing time of three months.”Those who pass the necessary due diligence checks can contribute to the country’s government fund and become exempt from bureaucratic delays at borders of almost 75% of the world, a feat highly beneficial to traders and entrepreneurs interested in growing their business in economic hubs like Europe, Asia and Africa. The eastern Caribbean regional currency is also pegged to the US dollar, making St Kitts and Nevis an attractive second citizenship option.”Imagine having real global mobility where it’s the case of jumping on a plane to a meeting in Germany, having a romantic weekend in Paris and visiting your child at boarding school in London… Second citizenship is a much-needed tool,” said Singh.Additionally, applicants are not required to pass any language tests or even travel to St Kitts and Nevis during or after their short citizenship process. The Programme also has a packaged contribution for families, ensuring children have more opportunities to choose the best international schools for a brighter future.”Holding alternative citizenship, once seen as a luxury, has become a necessity for those wanting to look outside the boundaries of their home country. This is particularly true for wealthy Indians with a more global outlook, who know first-hand how citizenship can act as an obstacle to living the life you desire,” Singh added.Additional benefits of St Kitts and Nevis citizenship include:Transferable Citizenship with a lifetime validityFull residence status, including the right to live and workSt Kitts and Nevis citizenship program allows a second passport without the need to give up any existing citizenshipNo residency requirement before or after the grant of the second citizenshipA stable and straightforward investment opportunity in a democratic countryOpportunities to work and live in various Caribbean countriesNo need to travel or reside while your citizenship by investment application is in process or you have received itAsset management and protection by means of trusts and offshore companiesExcellent airlines connection with various major countries worldwideLifestyle benefits include a pleasant climate and unspoiled natural environmentTropical climate characterised by cooling trade-windsAbout CS Global PartnersCS Global Partners specialises in citizenship solutions for high-net-worth individuals. Headquartered in London, UK, the firm consists of a team of experts that has helped countless individuals and their families find their perfect second citizenship.The firm offers personalised advice to clients and ensures that every step of the application process runs smoothly. CS Global Partners’ ensures that their clients are afforded the highest quality of efficient and effective service through one-on-one interactions with legal professionals. Their established professional working relationships with real estate developers, bankers and all relevant Citizenship by Investment Units contribute to the outstanding quality of service that they provide to their clientele.Through second citizenship in countries like St Kitts and Nevis, successful clients grow their wealth, gain security, and offer their children a better future filled with unlimited opportunities.

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