India and China top the millionaires settling abroad

July 28, 2015
According to the new reports, many of the wealthy citizens of the fast growing Asian economies India and China are choosing to leave their country and settling down abroad.

About 91,000 Chinese wealthiest millionaires had left the country to settle abroad over the past 14 years. In the same time, Indian millionaires numbered 60,000 ranked second are choosing to settle overseas.

India and China top the list of millionaires settling in overseas

The report is released by consultancies LIO Global and New World Health. It also has countries like Russia, Italy, France, South Africa, Egypt and Indonesia featured in the top eight.

The research study released this July month has looked into the data immigration applications for second citizenship or permanent residence (change of domicile) between 2000 and 2014.

The United Kingdom, particularly London is the top most preferred destination to settle, followed by countries like U.S, Singapore, Australia and Hong Kong. The report indicates Indians prefer the countries Australia and UAE while Chinese wealthy migrants move to Singapore and Hong Kong.

Even though there are large scale departures, still both China and India have a large number of wealthy citizens to not get affected. Representing 5th and 10th respectively by China and India in the list of most millionaires, they also remained the top populous nations in the world.

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