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 in nature. This shift has led to a growing demand for residence and citizenship planning, as families navigate the complexities of cross-border assets, international businesses, and the education and career pursuits of their children.
What makes this particularly fascinating is the generational shift Volek highlights. Three generations ago, families thought regionally, then nationally, and now, they're embracing a global perspective. This evolution has led to a situation where family members are spread across different countries, each with their own unique needs and aspirations.
Optionality and Flexibility: Key Client Objectives
Many high net worth (HNW) families are seeking optionality and flexibility without necessarily planning to leave India. They want the security of having additional residence rights or mobility options, a sort of 'Plan B' in case circumstances change. This contingency planning is driven by a desire for flexibility and the recognition that geopolitical and policy landscapes can be unpredictable.
Personally, I find it intriguing how these families are future-proofing their options, ensuring they have the ability to adapt and respond to changing global dynamics. It's a strategic approach to wealth and mobility management.
Education: A Long-Term Strategy
Education planning is a critical aspect of this conversation. Families are not just considering admission to overseas universities; they're thinking about the long-term prospects for their children. Can they remain in the country post-graduation? Can they gain work experience and build a career there?
Volek's observation about the mistake of sending children on student visas is an important one. It underscores the need for a holistic education strategy that considers not just the academic journey but also the career path and long-term residency options.
Tax, Lifestyle, and Legacy Considerations
Tax implications come into play when clients are open to physical relocation. Jurisdictions like the United Arab Emirates (UAE), Singapore, and Hong Kong offer attractive options for wealthy international families. However, the tax outcome depends on the individual's actual relocation and the residence rules of the chosen jurisdiction.
Lifestyle factors also play a significant role. Families consider climate, air quality, healthcare, community, and retirement plans when deciding on a base. Some business owners even choose to commute while relocating family members abroad.
From my perspective, this highlights the personalized nature of these decisions. Each family's priorities and circumstances are unique, and advisors must tailor their strategies accordingly.
Finding the Right Program: A Client-Centric Approach
Henley & Partners takes a program-agnostic approach, focusing on the client's specific needs and goals. This means that the chosen residence or citizenship program is tailored to the family's unique situation and objectives.
The evolution of programs like Portugal's Golden Visa is a testament to the dynamic nature of these options. What worked a few years ago might not be the best fit today, so staying informed and flexible is crucial.
The Role of Advisors: A Collaborative Effort
Henley & Partners works collaboratively with advisors, recognizing that their role is complementary to the existing advisory team. Whether it's through referrals, joint mandates, or meetings, the goal is to provide specialized expertise while maintaining the advisor's central role in the client relationship.
Advisors have a critical role in initiating these conversations, especially as they often arise from broader wealth planning discussions. By staying engaged and proactive, advisors can ensure they remain a trusted partner in their clients' journey.
Conclusion: A Practical Approach to Global Mobility
Residence, citizenship, and education planning are becoming increasingly practical considerations for Indian families with international aspirations. It's about ensuring flexibility, adapting to changing circumstances, and planning for the long-term success and security of the family.
As Volek notes, these conversations are happening, and advisors who recognize their importance can strengthen their relationships and provide invaluable guidance to their clients.
