In the realm of global wealth management, the topic of residence, citizenship, and education planning for India's international families is a fascinating and increasingly relevant one. As the world becomes more interconnected, the traditional boundaries of wealth planning are blurring, and the need for a comprehensive approach is becoming more apparent. In this article, I will delve into the key insights shared by Dominic Volek, Group Head of Private Clients at Henley & Partners, at the Hubbis India Wealth Management Forum 2026. I will explore the evolving landscape of global Indian families, the importance of optionality, the practical considerations of mobility, the role of education in long-term planning, and the broader wealth planning conversation that residence and citizenship planning is now a part of. I will also discuss the importance of finding the right programme and bringing advisers into the discussion. Finally, I will reflect on the implications of these trends and the potential future developments in this area.
One of the most striking insights shared by Volek is the way in which Indian families are now thinking globally. Three generations ago, families were focused on regional or national interests, but today, they are embracing a more international mindset. This shift is evident in the way families are structuring their businesses and investments across multiple markets, and in the way their children are studying and working abroad. The traditional model of a family business based in India is evolving, and families are now considering the long-term implications of their decisions on a global scale.
This global mindset is driving the demand for residence and citizenship planning. Indian families are seeking optionality and flexibility, and they are looking for ways to protect their assets and ensure the continuity of their legacy. The concept of a 'plan B' is becoming increasingly important, as families seek to mitigate the risks associated with geopolitical uncertainty and policy changes. For many, the option of a second residence or citizenship is an attractive one, as it provides a sense of security and control over their future.
Mobility is a key factor in this discussion. European residence programmes, such as those in Portugal, Greece, Italy, Latvia, and Malta, offer Indian nationals easier access to the Schengen Area. This is particularly relevant for families who want to travel and explore Europe, or who have business interests in the region. However, it is important to note that residence and citizenship are distinct concepts, and Indian nationals must carefully consider the implications of each. For example, India does not permit simultaneous Indian and foreign citizenship, and Overseas Citizen of India (OCI) status is not dual citizenship.
Education is another major source of demand for residence and citizenship planning. Families are increasingly looking to the US, UK, Switzerland, and other parts of Europe for their children's education, and they are seeking ways to ensure a smooth transition for their children after graduation. Henley & Partners' education advisory team works with families to consider schools and universities across these regions, and they emphasize the importance of thinking beyond the admissions process. A student visa may allow a child to complete a degree, but the family may also want that child to gain work experience and establish a career in the same market.
In my opinion, one of the most interesting aspects of this discussion is the role of tax in the decision-making process. Tax is a key consideration for families who are open to physically relocating, and jurisdictions such as the United Arab Emirates (UAE), Singapore, and Hong Kong can be attractive to wealthy international families. However, it is important to note that acquiring residence does not automatically alter tax residence, and genuine relocation and the relevant domestic rules matter. This highlights the complexity of the issue and the need for a comprehensive approach to wealth planning.
The concept of 'programme agnostic' is also an interesting one. Henley & Partners works across more than 60 residence and citizenship options, and they emphasize the importance of tailoring the programme to the client's situation and needs. This approach allows families to consider a wide range of options and to choose the one that best fits their circumstances. However, it is important to note that well-known programmes tend to dominate the conversation, and families should avoid beginning with whichever programme happens to be best known.
Finally, the role of advisers in this discussion is an important one. Henley & Partners works with advisers through referrals, joint mandates, and meetings where their specialists sit alongside the client's existing advisory team. The presentation stressed that Henley's role is intended to complement the adviser rather than take over the wider relationship. This highlights the importance of collaboration and the need for advisers to stay informed about the latest trends and developments in this area.
In conclusion, the discussion of residence, citizenship, and education planning for India's global families is a fascinating and evolving one. The trends outlined by Dominic Volek highlight the importance of optionality, mobility, and education in long-term planning, and they emphasize the need for a comprehensive approach to wealth planning. As families continue to embrace a global mindset, the role of residence and citizenship planning will only become more significant, and advisers will need to stay informed and engaged in this area to provide the best possible service to their clients.
