Post-Choksi, wealthy Indians rush to buy new passport

This article was published by The Times of India on December 9, 2018 and features commentary from Reaz Jafri.

Rich Chinese and Russians have been among the top buyers of foreign citizenship in recent years, but ever since billionaire jeweller Mehul Choksi bought citizenship in Antigua, in November 2017, interest among wealthy Indians in schemes that offer citizenship or residence rights in return for investment has soared.

Some UK-based firms that arrange foreign citizenship claim they have seen enquiries from Indians more than double since then. Henley & Partners, headquartered in Jersey, not only advises but also sets up citizenship and residence-by-investment programmes. It saw global enquiries rise by 320%, and a ‘significant increase’ from India in the past year. Knightsbridge Capital Partners, a London-based company which sells second citizenship to high-net-worth individuals, claims a “70-80% year-on-year increase in enquiries from Indians.”

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