25-30% jump in Indians seeking second residency: Why HNIs want a 'Plan B'

IT professionals, consultants and other professionals account for nearly 18% of enquiries, says global CEO of immigration firm Garant IN

For some of India’s wealthiest families, a second residency is a form of mobility insurance. It gives them an option for children’s education, business expansion, health care and relocation without requiring them to move immediately.

 

Garant IN, an international immigration firm, says that overseas residency is “Plan B” for many of its Indian clients. Enquiries from India have risen 25–30 per cent year-on-year, while completed applications have increased 10–15 per cent, Andri Boiko, founder and global chief executive officer of Garant IN, tells Amit Kumar in an email interview. Edited excerpts:

 

How has demand from Indian clients for second-residency programmes changed over the past 12 months?

Over the past 12 months, Garant IN estimates that enquiries from India have risen by approximately 25–30 per cent year-on-year, while completed applications have increased by around 10–15 per cent.

 

What stands out is that demand is no longer driven only by short-term triggers such as policy announcements, currency volatility or geopolitical uncertainty. Earlier, clients would often approach us after a specific event. Today, families are planning much earlier and viewing second residency as part of a longer-term strategy for mobility, wealth planning and family security.

 

Many clients begin exploring options two or three years before they expect to use them. They understand that a residency application involves more than choosing a country. It requires source-of-funds documentation, due diligence, investment planning, legal compliance and, in some cases, meeting physical-presence requirements.

 

We are also seeing an increase in referrals, with clients who have completed programmes referring relatives, business partners and friends. For most clients, this is not about leaving India immediately. India remains central to their business interests, family ties and wealth creation. The objective is to create credible options — whether for relocation, international education, healthcare access or business expansion.

 

The broader shift is from reactive migration decisions to proactive mobility planning. A second residency is increasingly viewed as a Plan B rather than an immediate exit from India.

 

Has the profile of Indian applicants changed? What proportion today are family offices, NRIs, salaried professionals and entrepreneurs?

The Indian applicant profile has become more diverse. Promoters and family offices remain the largest group, accounting for roughly 40–45 per cent of Garant IN’s client mix, according to the company. Entrepreneurs, particularly founders in technology, ecommerce and services, account for around 25 per cent.

 

The most striking shift is among senior salaried professionals. CXOs, information technology professionals and consultants now account for close to 15–18 per cent of enquiries, which is nearly three times what Garant IN saw a year ago.

 

This broadening matters because it signals that residency planning is no longer viewed purely as a business-succession or asset-protection tool for large promoter families. It is increasingly being seen as a personal and family resilience strategy by people with sufficient liquid savings, even without a large business behind them.

 

How many Indian clients are planning to relocate, versus acquiring residency mainly as Plan B?

More than 50 per cent of Garant IN’s Indian clients currently acquire residency as an “optionality play” or Plan B, with no immediate intention to relocate, Boiko said. Around 25–30 per cent have concrete relocation plans within two to three years, often linked to children’s education or a specific business expansion.

 

Education is one of the biggest drivers. Families increasingly want the legal right to enrol children in schools and universities abroad without navigating student-visa uncertainty. Having residency already in place can remove a major point of friction.

 

Even among the Plan B majority, clients are maintaining the option deliberately. They renew residency cards, meet minimum-presence requirements where applicable and maintain local banking arrangements so that the option remains usable if required.

 

The share of relocation-focused clients is generally higher among younger founders, senior executives with international roles and families with children approaching higher education.

 

A family, for example, may use the UAE as an operating base, evaluate Greece, Italy or France for lifestyle and education, and retain India as the centre of its wealth creation.

 

Which countries or residency programmes have seen the sharpest increase in demand from Indians?

Indian clients have become much more specific about what they want from a second residency. A year or two ago, the first question was often about the fastest or most popular route. Today, clients are asking whether a programme works for their family, business, children’s education and the way they actually want to live.

 

Spain’s Digital Nomad Visa has generated strong interest, particularly among remote professionals, startup founders and senior executives who can work internationally. It offers a route to establish a European base without first making a large property investment.

 

Greece’s Golden Visa remains a strong choice among Indian HNIs seeking a Europe-linked residency through investment. Italy’s Golden Visa is attracting a more specialised audience, typically entrepreneurs and investors looking at Europe for business opportunities as well as lifestyle and long-term family planning.

 

For business owners with expansion plans, Canada’s C11 entrepreneur route and the US L-1A route are receiving more attention. These are not simple investment programmes — applicants need a genuine business plan, operational activity and a clear role in managing the overseas business.

 

Demand has been less stable for programmes facing longer processing timelines, changing rules or heavier due diligence. Portugal and some Caribbean citizenship programmes have seen fluctuations for these reasons. Clients are becoming more cautious and want greater certainty on timelines, rules and compliance requirements.

 

Are Indian HNIs moving away from property-based residency towards funds, bonds or business-investment routes?

Indian HNIs are gradually moving away from a purely property-led approach, although real estate remains important. Clients are increasingly comparing property with funds, bonds and business-investment routes on the basis of liquidity, risk, returns, compliance and personal use — rather than residency eligibility alone.

 

Garant IN’s industry assessment puts property-led cases at around 40–45 per cent of its Indian business, with 15–20 per cent using fund or regulated investment routes, 25–30 per cent involving business or entrepreneurial investment, and 10–15 per cent falling into employment, talent, digital-nomad or other non-investment residence categories.

 

Greece’s Golden Visa continues to appeal to clients who prefer a tangible asset and potentially want a home in Europe. However, some families are asking whether a fund route can provide greater diversification and fewer responsibilities than directly holding overseas property.

 

Others prefer business-investment pathways where they have a genuine commercial reason to establish an overseas operation.

 

The important change is that sophisticated clients are not abandoning property; they are treating it as one option within a broader portfolio and mobility strategy. We advise clients to separate the investment decision from the residency decision and assess holding costs, exit options, tax and currency exposure.

 

How prominently do tax residency, foreign-asset reporting and source-of-funds questions feature in conversations with Indian clients?

These questions have become much more prominent. Around 12–18 months ago, they often came up later in the process, usually after a client had shortlisted a country or programme. Today, they are central to the first conversation and can influence which jurisdiction or route a client ultimately chooses.

 

Indian clients increasingly understand that holding a residency card and becoming a tax resident are two different things. A client may obtain a European residence permit, but their tax position will depend on factors including where they live, how much time they spend there, where they run their business, where they earn income and their personal and economic ties.

 

Foreign-asset reporting obligations also do not disappear simply because someone holds residency in another country.

 

The questions we hear most often concern tax residency, physical-presence requirements, foreign-asset and income disclosure, remittance documentation, banking, inheritance planning and source-of-wealth evidence.

 

Source of funds has also become a much larger part of the discussion. Due-diligence standards have tightened across immigration programmes, banks and regulated intermediaries. Clients are increasingly arriving with organised records of business income, tax records, asset-sale documents, bank statements and remittance evidence because incomplete documentation can delay an application.

 

We have changed our own process accordingly. Cross-border tax advisers and compliance specialists are now involved from the beginning rather than only when an issue emerges.

 

Are you seeing Indian clients structure their income, assets and residency across multiple countries — for example, earning in the Gulf while seeking residency in Europe?

Yes. Around 25 per cent of Garant IN’s Indian high net-worth individuals (HNI) clients either already have, or are actively building, a multi-country structure, Boiko said — earning income in one jurisdiction, holding residency in another, while maintaining family, business and investment ties with India.

 

The UAE-to-Europe model is particularly visible among the firm’s clients, with some professionals, founders and business owners using the Gulf as an operating base while also exploring European residence options for mobility, education and lifestyle planning.

 

There is also movement in the other direction. Some Indian founders retain their primary business and income in India, obtain UAE residency or explore Caribbean citizenship for mobility and travel flexibility, and consider a European residency option later when their family or business timing is right.

 

For location-independent professionals and founders, Spain’s Digital Nomad Visa reflects another aspect of this trend: residency based on international work flexibility rather than a large capital investment.

 

However, holding multiple visas or residence permits does not automatically change someone’s tax residency. Clients need to consider where they physically live, manage their business, earn income, hold assets and maintain personal ties.

 

This is not about avoiding tax. It is about creating credible options for where a family can live, where children can study, where a business can expand and how wealth can be structured responsibly.

 

When Indian residents fund a second-residency investment from India, how significant are LRS limits, TCS and foreign-exchange costs in determining the country or programme they choose?

LRS limits, TCS and foreign-exchange costs are significant when an Indian resident is funding an overseas residency investment from India. They do not always determine the final destination, but they can influence the timing, investment size and ownership structure.

 

Under India’s Liberalised Remittance Scheme, a resident individual can generally remit up to $250,000 in a financial year for permitted transactions. For some second-residency investments, families therefore need to plan remittances across eligible members and financial years while ensuring compliance with RBI, FEMA, tax and programme-specific requirements.

 

Clients increasingly begin financial planning well before filing an application. They may phase an investment, align payments with the financial year, evaluate whether a fund, property or business route is more practical, and assess currency risk.

 

The choice of programme is therefore not based only on the published investment threshold.

 

A growing number of clients also ask about programmes that allow instalment payments, which can help them spread payments across financial years and manage cash flow.

 

What are Indian HNIs doing today in their second-residency planning that you rarely saw two or three years ago?

The biggest shift is that Indian HNIs now approach second residency as a comprehensive family, business and wealth-planning strategy rather than simply as a personal visa application.

 

Two or three years ago, clients often began by asking which programme was fastest. Today, their questions are more strategic: Which jurisdiction supports children’s education, business expansion, healthcare access, lifestyle preferences, succession planning and long-term mobility?

 

Garant IN’s broad market assessment indicates that around 60 per cent of its applications now include extended family members, such as dependent parents or adult children where programme rules permit, compared with roughly 40 per cent two to three years ago.

 

Investment decisions have also become more diversified. Garant IN estimates that the average investment value per case has increased by approximately 20–25 per cent. (Boiko attributed the increase not only to higher programme thresholds and costs but also to families considering multiple residency options.)

 

We are also seeing more first-generation founders, senior professionals and remote entrepreneurs entering the market. Digital-nomad programmes have helped broaden awareness that international mobility does not always require a large property investment.

 

The core motivation is resilience. Most clients are not leaving India; India remains central to their business and family wealth. What has changed is the desire to establish credible, compliant options before education, health, business or geopolitical circumstances make them urgent.