Until June this year, whopping 87,026 Indians decided to renounce their citizenship. This takes the tally to 1.75 million people in all who have given up their Indian Citizenship since 2011. Owing to the demand for skilled labour in the international market and citizenship by investment, these numbers are higher than ever before.
According to External Affairs Minister S Jaishankar, 2,25,620 Indians renounced their citizenship in 2022, 1,63,370 in 2021, 85,256 in 2020, 1,44,017 in 2019, 1,34,561 in 2018, 1,33,049 in 2017, 1,41,603 in 2016, 1,31,489 in 2015, 1,29,328 in 2014, 1,31,405 in 2013, 1,20,923 in 2012 and 1,22,819 in 2011.(Source: The Times Of India)
This data has sparked curiosity and raised questions about the underlying factors driving such a significant exodus. Here are some key factors that might be contributors to this decision.
Education And Knowledge Base
Universities abroad are a favoured option for Indian students. Prestigious institutions in countries like the US, UK, Australia, and Canada offer a diverse spectrum of programs spanning liberal arts, social sciences, humanities, and fine arts. Students engage with the most talented faculties in these universities. Education systems abroad also inculcate critical thinking, creativity, and all-around development. Furthering this, internships available to resident students during their studies provide hands-on experience, augmenting their skill set and employability. A robust job market and Optional Practical Training (OPT) opportunities post-graduation to locales are some more benefits that attract Indian families to give up their citizenship All in all, promising career prospects and global exposure coupled with practical opportunities make it lucrative for Indians to give up Indian citizenship for a better life abroad.
Limitless Career Growth Opportunities For The Indian Workforce
Upon becoming citizens, students gain access to exceptional internship opportunities. Citizenship status grants them the advantage of familiarity with the local job market, networking resources, and regional connections. This, combined with their educational background from reputed universities positions them favourably for internships with reputable companies. Furthermore, as citizens, they can engage more confidently in networks enhancing their chances of good jobs. For working professionals too, the potential for higher salaries and better job benefits leads to increased financial stability and an upgraded quality of life. Once they have lived in the host country for a few years, it echoes as home and they don’t want to come back. They love the excitement of living and working abroad. With several countries opening up pathways for living abroad through citizenship by investment programmes, entrepreneurs and investors too have moved abroad. Owing to this, several migrants who previously enjoyed dual citizenship have moved ahead and renounced their Indian citizenship to make permanent homes beyond the borders.
Enhanced Quality Of Life
Indians experience a rich quality of life when they migrate abroad. Along with improved job opportunities, they find themselves enjoying an outstanding work-life balance. There is no compromise of family life in the quest for financial stability. Advanced healthcare systems reduce medical expenses, and superior education prospects enhance children’s futures. Cleaner environments and efficient public services enrich the overall quality of life. With strict law and order in most countries, they can enjoy a safer way of life. Cultural exposure promotes personal growth and adaptability. With enough time for oneself, the pursuit of interests and hobbies is unrestricted, contributing to mental well-being. Access to natural landscapes and recreational facilities adds to a fulfilling life. The decision ultimately leads to a higher quality of life, encompassing financial security, better healthcare, education, safety, and diverse cultural experiences. Collectively these advantages lead to an elevated quality of life deciding to migrate abroad a rewarding one for many Indians.
Personal And Professional Growth
For many Indians, migrating abroad presents an opportunity for personal and professional growth. Experiencing different work cultures, new technologies, and diverse challenges can lead to valuable skill development and career progression. Moreover, exposure to global markets broadens their horizons and enables them to make a meaningful impact on an international stage. Offering access to new markets, and expanding customer base and revenue streams, it opens up several pathways for business growth. Those with entrepreneurial ambitions can tap into local and global networks, securing investment capital and partnership prospects. This access to funds fuels the establishment and growth of businesses abroad. Immigrants bring innovative ideas and global insights, enhancing workplace dynamics and productivity across sectors. Moreover, favourable tax policies or investment schemes can lead to increased returns on investment. Overall, investing in a host country offers strategic advantages that translate into business growth and success.
Citizenship by investment fosters a greater sense of belonging in the host country and encourages active participation in its development.
So Where Are These Indians Headed To?
Going by the numbers, Indians continue to chase the American dream with the majority of the migrants relinquishing their citizenship in 2022-23 for US Greencards. A close second is Canada followed by the UK.
A significant number of Indians also chose to be citizens of Italy, New Zealand, Singapore, Germany, the Netherlands, Sweden and Spain.
Easy Pathways To Citizenships Abroad Via Investments
Citizenship and Residency by investment programs have revolutionized the way individuals can live abroad, offering a quick, hassle-free pathway to residency and citizenship in various countries. Today, more than ever, a range of easy-to-follow investment programmes are available for residency and citizenship in countries of choice.
Among these sought-after programs are the Portugal Golden Visa, which provides investors and their families with the right to live, work, study, and retire in Portugal and other European Union countries.
The U.S. EB-5 visa enables individuals to invest in a U.S. commercial project that creates at least 10 full-time jobs for U.S. workers, leading to permanent residency and, eventually, American citizenship.
Additionally, countries like Grenada and St. Kitts offer attractive options for citizenship through investment. For Grenada, applicants can contribute to the National Transformation Funds or invest in real estate. Malta and Spain also provide similar opportunities, granting access to the European lifestyle and business environment. Furthermore, Canada’s investment immigration programs have attracted individuals seeking a prosperous and inclusive society in the North American continent.
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