In today's interconnected world, the concept of residence, citizenship, and education planning has taken on a 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 Evolution of Indian Wealth and Mobility
Indian wealth has undergone a remarkable transformation, becoming increasingly international. 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. Now, residence, mobility, and education are taking center stage in wealth management discussions.
Optionality: A Key Driver for High Net Worth Families
Many affluent Indian families are seeking additional residence rights or enhanced mobility, not necessarily with the intent to leave India immediately. This optionality provides flexibility and peace of mind, especially in an era of geopolitical uncertainty.
Mobility and Practical Considerations
European residence programs offer Indian nationals easier access to the Schengen Area, providing a valuable mobility benefit. However, it's essential to distinguish between residence and citizenship rights, as India does not permit dual citizenship. Programs like those in Portugal, Greece, Italy, Latvia, and Malta offer unique advantages, but the choice depends on the family's specific needs and priorities.
Education: Beyond Admissions
Education is a significant driver of demand, particularly for families considering the US. Henley & Partners' education advisory team assists families in navigating schools and universities worldwide. Volek emphasizes the importance of looking beyond admissions; families should consider post-graduation opportunities for their children to gain work experience and build careers in the same market.
Tax, Lifestyle, and Legacy Planning
Tax considerations come into play when clients are open to physical relocation. Jurisdictions like the UAE, Singapore, and Hong Kong offer attractive options for wealthy international families. However, tax residence is determined by specific rules and exceptions, not solely by the number of days spent in a country. Lifestyle factors, such as climate, healthcare, and retirement plans, also influence residence decisions.
Finding the Right Program
While well-known programs often dominate conversations, the options are diverse. Henley & Partners works with over 60 residence and citizenship programs, adopting a program-agnostic approach. The starting point is understanding the client's unique situation and goals, which can lead to very different program recommendations.
The Role of Advisers
Advisers play a crucial role in initiating conversations about residence and citizenship planning. Private bankers, wealth managers, lawyers, trustees, and family offices are well-positioned to identify when these topics become relevant. Henley & Partners aims to complement advisers, offering specialist support through referrals, joint mandates, or meetings with the client's existing advisory team.
A Practical Approach to Wealth Planning
Residence, citizenship, and education planning are becoming integral components of wealth management for Indian families with global aspirations. While not relevant to every family, for those with international businesses, children, and assets, it offers a practical framework for navigating the complexities of a globalized world.
In my opinion, the insights shared by Dominic Volek highlight the evolving nature of wealth management and the importance of adapting to the changing needs and aspirations of global families. It's a fascinating exploration of how residence and citizenship planning can enhance financial security and mobility in an increasingly interconnected world.
