The world of wealth management is evolving, and India's global families are at the forefront of this transformation. At the Hubbis India Wealth Management Forum 2026, Henley & Partners' Group Head of Private Clients, Dominic Volek, shed light on the critical role of residence, citizenship, and education planning in the affairs of India's wealthy families. As Indian wealth becomes increasingly international, with children studying and working abroad, family businesses spanning multiple markets, and assets scattered across different jurisdictions, the traditional focus on investments, tax, trusts, and estate planning is shifting. The immediate objective for many families is flexibility, and a second residence can provide this, offering improved mobility and a safety net in case of unforeseen circumstances. This is especially relevant for families with members living in different countries, where education decisions are made with a child's future career in mind, and tax and lifestyle considerations come into play.
One of the key takeaways from the presentation is the growing demand for residence and citizenship planning from global Indian families. This demand is driven by the need for additional residence rights and mobility, even without an immediate plan to leave India. European residence programmes, such as those in Portugal, Greece, Italy, Latvia, and Malta, offer easier access to the Schengen Area for Indian nationals, addressing visa requirements and providing a practical solution for mobility. However, it's crucial to understand the differences between residence and citizenship, as India does not permit simultaneous Indian and foreign citizenship, and Overseas Citizen of India (OCI) status is not considered dual citizenship.
Geopolitical and policy uncertainty further emphasize the importance of having a plan B. Henley & Partners has observed strong activity in its Dubai office, with clients securing alternatives to avoid concentration risk. Early implementation of these plans allows families to have more control over their decisions, as programmes and requirements can change, and waiting until a move is urgent may limit available choices. Education is another significant driver for demand, particularly when families are considering the US. Henley & Partners' education advisory team assists families in navigating the complexities of overseas education, ensuring that the focus goes beyond admissions to include long-term career prospects and work experience.
Tax considerations come into play when a client is open to physical relocation. Jurisdictions like the United Arab Emirates (UAE), Singapore, and Hong Kong offer attractive options for wealthy international families. However, it's essential to understand that acquiring residence does not automatically alter tax residence, and genuine relocation, along with relevant domestic rules, is crucial. Lifestyle factors, such as climate, air quality, healthcare, and community, also influence where families choose to establish a base. Additionally, legacy and estate planning become significant when family members, businesses, and assets are spread across countries, making residence rights an essential part of intergenerational wealth management.
While well-known programmes dominate the conversation, Henley & Partners emphasizes the importance of tailoring the choice to the client's needs. The firm's approach is programme-agnostic, focusing on the client's situation and the desired outcomes. This personalized approach ensures that the chosen programme aligns with the family's priorities, whether it's easier Schengen travel, long-term career planning for children, or a contingency residence. The company works closely with advisers, providing referrals, joint mandates, and meetings to ensure a collaborative and complementary relationship.
In conclusion, residence, citizenship, and education planning are becoming integral parts of wealth management for India's global families. As the world becomes more interconnected, these considerations are no longer optional but essential components of a comprehensive wealth plan. By embracing these changes, families can navigate the complexities of an international lifestyle, secure their future, and build a legacy that transcends borders.
