Why India's Ultra-HNIs Are Looking Beyond Borders

According to a recent survey by Kotak Mahindra Bank's private banking division, one in five Ultra-High Networth Individuals (UHNIs) in India is planning to settle abroad. The move is driven by the allure of investment opportunities, tax advantages, and enhanced global connectivity.

Survey Insights and Ultra-HNI Preferences

The survey, spanning 12 cities in the first half of 2024-25, involved 150 Ultra-HNIs and private bankers. With a focus on individuals boasting a net worth exceeding Rs 25 crore, the findings reveal a growing trend towards acquiring residential real estate overseas as part of migration plans.

Global Assets and Wealth Diversification

"Ultra-HNIs are diversifying their portfolios, embracing both domestic and global assets," notes Oisharya Das, CEO of Kotak Private Banking. This shift is setting the stage for a significant increase in spending by 2028, with nearly a third of India's Ultra-HNIs now holding global assets.

Succession Planning and Family Legacy

The pandemic has accelerated the urgency for structured wealth transition, with two-thirds of Ultra-HNIs actively working on succession planning. Investments in health, wellness, and education are also on the rise, ensuring the next generation is well-equipped for a globalized future.