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Over 15 Per Cent Of Super Rich In India Are Aged Under 30, Says Report

More than 15 per cent of the high networth individuals in the country are aged under 30, a recent report said. Prashant Thakur, Regional Director and Head of Research, Anarock Property Consultants, noted, “A dynamic mix of young entrepreneurs, tech pioneers, and seasoned industrialists driving the expansion in affluent population.” The study found that 20 per cent of the Indian …

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Indian

World Savings Day: How India's Millennials & Rich Drive Sustainable Investing?

In the global transition towards sustainable financial choices, India is making waves. While at its nascent stage, India’s journey toward sustainability is marked by robust government action, regulatory push, a surge in ESG-centric funds, and corporate commitment to greener practices. Government and Regulatory Backing Government’s Initiatives: Top Indian fund houses are on the cusp of rolling out ESG-focused offerings, with …

Union Bank of India rolls out two unique debit cards for HNIs and women. Details here

The Union Bank of India has recently introduced two new debit card variants to cater to specific segments of its clientele: high net worth individuals and women. As Union Bank of India continues to evolve and innovate in the digital banking landscape, it wants to project these new card variants as a testament to its customer-centric approach. Debit card for …

Union Bank Of India

Why do ordinary Indians find it difficult to invest outside the country? Overseas investments made by LLPs would be out of its individual partners’ balance sheet / personal wealth, and hence, the structuring of such LLP needs to be undertaken with care. View Full Image Mint Since this LLP is registered as an ‘Indian entity’ as per the Reserve Bank …

Explained: Why are 6,500 super-rich expected to leave India in 2023?

The estimate comes courtesy of the Henley Private Wealth Migration Report 2023. Indian Express quoted Sunita Singh-Dalal, Partner, Private Wealth & Family Offices at Hourani, as saying that “prohibitive tax legislation coupled with convoluted, complex rules relating to outbound remittances that are open to misinterpretation and abuse, are but a few issues that have triggered the trend of investment migration …

India to have 16 lakh HNIs by 2027: Knight Frank report

India’s ultra-high-net-worth individuals with net worth over $30 million will rise by over half in the next five years. From the last count in 2022, the number is likely to grow to 19,119 individuals in the next five years in 2027, found a new report by real estate agency Knight Frank’s ‘The Wealth Report 2023’. However, the HNI population remained …

Family offices seek out foreign partners as HNIs look to invest outside India

A surge in international investing by high net-worth individuals is pushing family offices in India to enter into foreign partnerships to deliver advice on investing in global markets. In May, Waterfield Advisors, which manages assets worth around $3.7 billion across 70 families in India, tied up with Zephyr Management, a US-based firm to manage international investments of its clients. We …

Taxes are a big levy on regular income of a person, or a corporate body. A new book titled Loophole Games: A Treatise on Tax Avoidance, written by Smarak Swain, reveals these many methods of dodging taxes. Through a process called externalization, many Indian start-ups are creating offshore parent companies, so that they can shift their profits to the parent …

Historically, individuals have migrated from one country to another for various social and economic reasons like better quality of living, education, employment and business opportunities, law and order conditions. Under Indian tax laws, tax residential status depends on a combination of stay days in India during the current fiscal year and previous fiscal years. In that case, foreign assets acquired …