In today's interconnected world, the concept of residence, citizenship, and education planning has taken on a whole new dimension, especially for India's global families. This article delves into the insights shared by Dominic Volek, Group Head of Private Clients at Henley & Partners, at the Hubbis India Wealth Management Forum 2026.
The Evolving Landscape of Indian Wealth
Indian wealth has undergone a remarkable transformation, becoming increasingly international in nature. With children pursuing education and careers abroad, family businesses operating globally, and assets spread across jurisdictions, the traditional focus on investments and tax planning is shifting. Residence, mobility, and education are now integral considerations in the wealth management discussions of India's affluent families.
Optionality: A Key Driver for HNW Families
Many high net worth (HNW) families are seeking additional residence rights or enhanced mobility, often without an immediate intention to leave India. This desire for optionality reflects a forward-thinking approach, providing families with the flexibility to adapt to changing circumstances.
Mobility and Practical Concerns
European residence programs offer Indian nationals easier access to the Schengen Area, addressing visa requirements and enhancing mobility. Other programs provide unique residence or citizenship benefits, catering to diverse family needs and priorities.
Contingency Planning: A Growing Trend
Geopolitical uncertainty and policy fluctuations are prompting some families to establish alternative residences as a precautionary measure. By securing options early, families can maintain control over their decisions and avoid being forced into quick choices.
Education: A Long-Term Perspective
Education planning extends beyond university admissions. Families must consider post-graduation opportunities, such as work experience and career prospects, to ensure their children can build successful lives abroad. The US EB-5 immigrant investor program, for instance, offers a pathway to permanent residence and citizenship, showcasing the intricate relationship between education and immigration.
Tax Considerations: A Complex Landscape
Tax implications vary based on individual circumstances and the specific residence rules of each jurisdiction. Acquiring another residence or citizenship does not automatically alter tax residence, emphasizing the need for specialized advice and a thorough understanding of domestic tax laws.
A Holistic Advisory Approach
Henley & Partners offers a comprehensive range of services, advising on over 60 residence and citizenship options. Their expertise extends to real estate, education, and concierge support, ensuring a tailored approach to meet each family's unique needs and priorities.
The Role of Advisers
Private bankers, wealth managers, lawyers, trustees, and family offices play a crucial role in initiating conversations around residence and citizenship planning. As these issues become increasingly relevant for families with global connections, advisers are well-positioned to guide clients through this complex landscape.
A Broader Wealth Planning Perspective
Residence and citizenship planning are integral components of a client's overall wealth plan. They intersect with investment strategy, tax planning, trusts and estates, succession, philanthropy, retirement, and risk management. For families with international lives, these considerations are practical and far-reaching.
The Changing Dynamics of Indian Families
The evolution of Indian families is a key driver of this trend. Three generations ago, families thought regionally, two generations ago nationally, and now they are thinking globally. This shift is evident in families where founders remain in India while children pursue education and careers abroad, and in businesses that operate across multiple markets.
Conclusion
Residence, citizenship, and education planning are becoming essential aspects of wealth management for India's global families. As these families navigate an increasingly complex and interconnected world, specialized advice and a holistic approach are crucial to ensuring their long-term success and security.
