Int'l Residency and Citizenship Conclave starts tomorrow

The first edition of International Residency and Citizenship Conclave 2018 will be held from November 17-18 at the Ashok Hotel, New Delhi.

The Conclave is a unique platform that offers various options and prospects of citizenship and residency across the world to Indian residents. The Conclave brings together Residency and Citizenship consultants, legal consultants, government bodies, property developers and other stakeholders under one roof.

Earlier held as part of International Real Estate Expo (IREX), this is the first edition of the show dedicated to citizenship by investment, residency and immigration. The Conclave will have participants from Cyprus,Canada, Portugal, Malta, Spain, Caribbean, Australia, New Zealand and EB5 companies from USA that offer citizenship/residency by investment.

The major participants of this year's show are Enterprise Greece, SMM Group, CanAm Enterprises, Migrate World, NRIA EB5, Path Migration, Leptos Estates, among others. Some of the major participants in the past have also included CS Global, USIF, American Life, Aristo Developers, IR Global, Lightstone, to name a few.

Lured by multiple benefits, Indian residents are increasingly looking for foreign citizenship by investment opportunities. Indians, at least many wealthy ones, are looking to invest abroad as never before. They want to go global, explore emerging business and international alliances, avail tax benefits, get visa free travel and avail subsidized children's education with future career prospects.

The lure of major first world nations such as the US, UK, Canada and Australia is still a top draw for most Indians. The AfrAsia Bank Global Wealth Migration Review concurs, adding other major nations Indians are headed to include UAE, Switzerland, New Zealand, Singapore as well as Caribbean island havens such as St Kitts and Nevis, St Bart's, Virgin Islands, St Lucia, Antigua and Barbuda, Cayman Islands and Grenada among others.

Many HNWIs are seeking better returns for their wealth, and investing in mature, stable economies is often a way out. India has 3,30,400 HNWIs (individuals with US$ 1 million or more in net assets), including 20,730 multi-millionaires, according to a report by South Africa based global market research group New World Wealth. The Second Citizenship Survey 2017 by research firm CS Global Partners found that 89 per cent of those polled would like to own a second passport, and over 34 per cent said they had explored getting citizenship or residency of another country. According to the report by New World Wealth, 7,000 Indians shifted overseas in 2017. For 2016, the corresponding figure was 6,000, while in 2015 it was 4,000. The event is supported by Chamber of Commerce and Industry and Chamber of Indian Micro Small and Medium Enterprises.