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 …
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 …
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