Ultra-Rich Indians Eyeing Global Shores

A recent survey by Kotak Mahindra Bank's private banking division reveals a startling trend: one in five Indians with a net worth exceeding Rs 25 crore is considering settling abroad. The primary drivers behind this decision include lucrative investment opportunities, favorable tax regimes, and enhanced global connectivity.

Survey Insights and Global Asset Diversification

Conducted across 12 cities in the first half of 2024-25, the survey involved 150 ultra-high net worth individuals (UHNIs) and private bankers, with findings analyzed by EY. A significant portion of these individuals are now investing in residential real estate overseas as part of their migration plans. "Ultra-HNIs are diversifying their portfolios to include both domestic and international assets," noted Oisharya Das, CEO of Kotak Private Banking.

Succession Planning and Wealth Preservation

The pandemic has accelerated the urgency for structured wealth transition, with two-thirds of ultra-HNIs actively working on succession planning. This shift underscores a growing focus on family offices and estate planning to ensure wealth preservation for future generations.

Rising Trends in Health, Education, and Collectibles

Health and wellness expenditures have seen a notable increase among this demographic, alongside a steadfast commitment to global education for their heirs. Additionally, there's a growing interest in collectibles as a means to preserve family heritage and foster cultural appreciation.