Around 4,000 Indian millionaires shifted abroad last year

March 31, 2016
According to a report, India has witnessed the fourth major outpouring of soaring net worth people internationally last year with the shift of around 4,000 millionaires abroad.

Around 4,000 Indian millionaires shifted abroad last year

The report has also revealed that around 4000 richest citizens from India had changed their domicile last year, while France had witnessed the biggest outflow of millionaires with a total of 10,000 rich persons leaving the nation.

The report has also noticed that migration of rich individuals from India and China is not big concern.

According to the report, the outpouring from China and India are not significantly concerning as these nations still produce many latest millionaires than they are losing out. Once the living standard in these nations enhances, it is expected that many wealthy individuals will come back.

In terms of ranking of the nations for the outflow of millionaires, France stood at first position followed by around 9000 rich individuals from China leaving the country while Italy stood at third place as 6000 of its richest individuals has left the nation.

Other nations that had witnessed the important outflow of millionaires include 3000 richest individuals from Greece and 2000 millionaires from Russia, Brazil and Spain.

If we talk about millionaire inflows, Australia leads the chart as it has witnessed around 8000 rich individuals shifting in that country which is followed by 7000 people from the US  and 5000 people from Canada.

Millionaires are also called as the increased net worth persons which are usually referred to those individuals who possess net assets worth $ 1 million or more which excludes their residences.

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