The world of wealth management is evolving, and for India's elite families, the focus is shifting towards residence, citizenship, and education planning. This shift is driven by the increasing globalization of Indian wealth, with families' lives spanning multiple countries and their assets spread across various jurisdictions. Henley & Partners' Group Head of Private Clients, Dominic Volek, delves into this emerging trend at the Hubbis India Wealth Management Forum 2026, highlighting the importance of these considerations for India's wealthy families.
The Globalization of Indian Wealth
Volek notes that Indian wealth has become increasingly international, with children studying and working abroad, family businesses operating across borders, and assets held in different countries. This shift has brought residence, mobility, and education planning to the forefront of discussions that were once centered on investments, tax, trusts, or estate planning. The immediate objective for many families is flexibility, with a second residence providing mobility options and a safety net in case of unforeseen circumstances.
The Role of Residence and Citizenship
The demand for residence and citizenship planning is driven by global Indian families, who seek additional residence rights and mobility without an immediate plan to leave India. European residence programs offer easier access to the Schengen Area, while other programs provide different benefits. For instance, the Portuguese Golden Visa allows for short-stay travel within the Schengen Area, but not for settlement or work throughout Europe. It's crucial to understand the distinctions between residence and citizenship for Indian nationals, as India does not permit dual citizenship.
Education and the Next Generation
Education is a significant source of demand from India, particularly for families looking to send their children to the US. Henley & Partners' education advisory team assists families in choosing schools and universities across various countries. However, Volek emphasizes the need to think beyond admissions. He advises families to consider whether their children can remain, work, and build careers after graduating, and to explore immigration routes alongside education, such as the US EB-5 immigrant investor program.
Tax, Lifestyle, and Legacy Considerations
Tax considerations come into play when a client is open to physical relocation. Jurisdictions like the UAE, Singapore, and Hong Kong can be attractive to wealthy international families. However, tax outcomes depend on actual relocation and the relevant domestic rules. Lifestyle factors, such as climate, air quality, healthcare, and community, also influence where families choose to establish a base. Additionally, legacy and estate planning become relevant when family members, businesses, and assets are spread across countries, with residence rights playing a crucial role in intergenerational wealth management.
Finding the Right Program
Henley & Partners offers a wide range of residence and citizenship options, tailored to the client's situation and objectives. The firm's approach is program-agnostic, focusing on the client's needs. Well-known programs dominate conversations, but the available choices are diverse. For instance, Portugal's Golden Visa no longer accepts direct real-estate acquisition as a qualifying investment, but Henley & Partners provides real-estate services in the country. Volek advises clients to avoid starting with the most popular program and instead assess their needs before narrowing down the options.
The Role of Advisers
Henley & Partners collaborates with advisers through referrals, joint mandates, and meetings, aiming to complement the existing advisory team rather than take over the relationship. Some advisers prefer to introduce clients to Henley & Partners for specialist work, while others remain closely involved. The firm believes that these conversations can strengthen trust, retention, and lead to related areas of advice, such as succession, structuring, and real assets. Volek emphasizes that ignoring the subject does not mean it will disappear, as wealthy clients often have relationships with multiple banks and advisers.
In conclusion, residence, citizenship, and education planning are becoming integral parts of wealth management for India's global families. As Indian wealth continues to internationalize, these considerations will play a significant role in shaping the future of wealth planning, offering flexibility, mobility, and opportunities for the next generation.
