Every year, thousands of Indian millionaires started leaving the country, this year about 6500 millionaires can leave their homeland and migrate to other countries, which is attributed to the new tax implemented in the budget this year.
India’s millionaires want to go to countries where the environment is favorable for foreign direct investment and at the same time investors are granted citizenship. The first choice of people leaving India are Dubai, Singapore, Portugal, Austria, St. Kitts, Canada, Italy, Greece, Spain, these are the countries that can become the abode of these millionaires due to ease in their visa and investment policy. are
In addition, China has been ranked first in the Henley Private Wealth Migration report, where 13,500 millionaires may leave the country this year.
The shocking facts have come out in Henley Private Wealth Migration Report 2023, according to which around 6500 millionaires may leave the country in 2023 while around 7500 millionaires have already said goodbye to India in the year 2022.
Why Indian rich people are forced to leave the country, the answer is the new tax slab of the budget from the Indian government! In which it is evident that those earning 15 lakh rupees annually will have to pay 30% of their income as tax. The millionaires are definitely being bothered by this new law.
The government taking a large portion of the profits in the form of taxes is troubling the millionaires because the more income they have, the more taxes they have to pay.
Apart from tax, there are many other reasons why rich people are leaving India, like they are concerned for their family and their better future, apart from looking for better environment and climate to leave their country. is causing
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