Henley & Partners' Dominic Volek discusses the evolving landscape of residence, citizenship, and education planning for India's global families at the Hubbis India Wealth Management Forum 2026. He highlights how Indian wealth is increasingly international, with children studying and working abroad, family businesses spanning multiple markets, and assets held in various jurisdictions. This shift in dynamics is prompting families to consider residence, mobility, and education in their wealth planning, alongside traditional areas like investments, taxes, trusts, and estate planning.
Volek emphasizes that the primary goal for many families is flexibility. A second residence can offer improved mobility or a safe haven in case of unforeseen circumstances. Education decisions are made with future career prospects in mind. Tax and lifestyle factors may also come into play when contemplating relocation. The choice of residence or citizenship depends on the family's objectives.
Key takeaways include the growing demand for residence and citizenship planning from global Indian families, the importance of optionality for high-net-worth (HNW) individuals, the practical benefits of European residence programs for Indian nationals, and the role of a second residence as a contingency plan. Education planning requires a long-term perspective, considering not only university admissions but also post-graduation opportunities for work and career development. Tax advantages are contingent on actual relocation and domestic rules.
Volek introduces Henley & Partners' 'wheel of wealth planning' to illustrate the place of residence and citizenship within a broader wealth management framework. The firm advises clients on over 60 residence and citizenship options, with a focus on mobility, education, relocation, succession, and other family priorities. India is a significant source market for Henley & Partners, reflecting the changing dynamics of Indian families.
Volek attributes the shift in family mindset to a global perspective, where three generations ago families thought regionally, two generations ago nationally, and now globally. This is evident in families with founders remaining in India while children study or work abroad, or businesses and investments extending across multiple markets. Some younger Indians are also returning after overseas education and work due to opportunities at home.
The reasons for families to consider residence and citizenship options are diverse, ranging from 'push' factors like tax and policy reforms, geopolitical volatility, succession issues, and next-generation needs, to 'pull' factors such as attractive residence programs, predictable jurisdictions, education systems, and improved mobility. These factors often trigger a broader wealth planning conversation, with education being a common starting point.
Volek discusses the importance of mobility and having a 'Plan B' for many Indian clients. European residence programs, such as those in Portugal, Greece, Italy, Latvia, and Malta, offer easier access to the Schengen Area for Indian passport holders. However, residence and citizenship must be carefully distinguished, as India does not permit dual citizenship, and OCI status is not considered dual citizenship.
Geopolitical uncertainty further emphasizes the need for contingency planning. Henley & Partners has seen increased activity in its Dubai office, with clients securing alternatives to avoid immediate relocation. Early planning provides families with more control over their decisions, as programs and requirements can change, and waiting until a move is urgent may limit available choices.
Education planning is a significant demand area, particularly for families considering the US. Henley & Partners' education advisory team assists families in selecting schools and universities in the US, UK, Switzerland, Europe, Singapore, Dubai, and Australia. Volek stresses the importance of thinking beyond admissions, considering post-graduation work and career opportunities.
Tax considerations come into play when a client is open to physical relocation. Jurisdictions like the UAE, Singapore, and Hong Kong can be attractive to wealthy international families. Tax outcomes depend on actual relocation and the residence rules applicable to the client's circumstances. In India, individual tax residence is determined through statutory tests and exceptions, not a simple 183-day rule.
Lifestyle factors, such as climate, air quality, healthcare, community, and retirement plans, also influence residence choices. Some business owners choose to relocate family members abroad while commuting themselves. Legacy and estate planning become relevant when family members, businesses, and assets are spread across countries, with residence rights playing a role in intergenerational wealth management.
Volek advises against starting with well-known programs and instead recommends assessing the client's needs first. Henley & Partners offers over 60 residence and citizenship options, with a program-agnostic approach. The firm works with advisers through referrals, joint mandates, and meetings, aiming to complement existing advisory relationships rather than take over the broader mandate.
Advisers have a commercial incentive to pay attention to these conversations, as they can strengthen trust and retention, leading to related areas of advice such as succession, structuring, and real assets. Volek concludes by warning that wealthy clients often have multiple relationships with banks and advisers, so ignoring this topic may result in others taking the lead in these discussions.
