“NRIs can invest in the Six Senses La Sagesse, Grenada, for example. Huriya Private has been pioneering citizenship by investment schemes because they are a legitimate and cost-effective way for NRIs to avoid such legislation. The new tax regulations only affect non-resident Indians (NRIs) and not individuals of Indian origin who live abroad but hold foreign passports. In light of this, Huriya Private’s CEO John Hanafin has reported that: “The number of high-net-worth Indian clients approaching us has risen exponentially in recent months as individuals grow increasing concerned about the pandemic and potentially facing a large tax bill.” India’s recent changes to taxation legislation are accelerating its millionaire exodus.
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