Highlight:
- The vast majority of people who have renounced their citizenship are in the US
- Forty percent of people have immigrated to the United States in this way
- Soon after, Indians in Australia and Canada applied for revocation of citizenship.
After the United States, Indians in Australia and Canada have applied for revocation of citizenship. This includes those who have received a Golden Visa. In addition, there are those who have settled in Portugal, Malta and Cyprus.
If they become citizens of another country, they will have to give up their Indian passport. This is because the country does not grant dual citizenship. However, they can apply for an Overseas Citizen of India card which enables them to stay, work or do business in India.
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The list of those who have renounced citizenship since 2017 has now been released. The highest number of people who renounced their citizenship is reported in 2019. 1,44,017 have renounced their citizenship. At least in 2020, only 85,248 people applied. However, the figures for 2021 are also high.
According to the Times of India, 7,000 rich people will have left India in 2019. The Times of India reports based on the Global Wealth Migration Review. This is the highest number in recent years. It accounts for about 2 per cent of the country’s high-income individuals.
The world’s richest people have renounced their citizenship in China. 16,000 people have changed in this way. Second, 7,000 people renounced their citizenship. About 5,500 rich people have renounced their citizenship from Russia.
Residence programs are offered in over 30 countries.
According to Henley & Partners, Global Citizenship and Residence Advisor, Global Citizenship and Residence Advisory, the number of Indians seeking investment immigration programs has become increasingly aware of the ease of purchasing property through the visa – free entry process to 26 Schengen zone countries, such as Greece and Portugal.
Statistics show that in the first half of 2021, about 30 percent of such inquiries were received. Last year it was 62 percent.
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If the passport index rises, visa-free entry to many countries will be possible without any delays at the immigration and official levels.
According to the Henley Passport Index, the rank of an Indian passport is 85. Currently, only 58 countries offer visa-free or on-arrival visa benefits. At the same time, the fact that a person of Indian descent can move to Portugal or Greece without such visa-free access to 84 countries also contributes to the renunciation of citizenship.
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