Top 5 countries where Indians settled after renouncing Indian citizenship – Investing Abroad News

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A 23-year-old Indian IT engineer who earns around Rs 1 lakh per month has sparked a discussion on Reddit about his future plans. He feels inferior to his friends who are studying abroad and doubts whether he should stay there. India it’s better than living abroad.

There is growing interest among Indians in renouncing citizenship and moving abroad. According to the Ministry of External Affairs (MEA), 1.75 million (1,075,000) Indians voluntarily surrendered their passports between 2011 and June 2023. From Antigua and Barbuda, Brazil, Iceland and Vatican City to the USA, UK, France and Germany. Indians renounced their citizenship and immigrated to approximately 135 countries.

Currently, India does not have a dual citizenship policy. Dual citizenship is not permitted under the provisions of Article 9 of the Constitution of India read with Section 9 of the Citizenship Act, 1955.

According to the ministry, the number of Indians who renounced Indian citizenship was 1,63,370 (in 2021); 2.25,620 (in 2022) and 2.16,219 (in 2023), 87,026 (until June 2023)

For reference purposes the data was 1,22,819 (in 2011); 1,20,923 (in 2012); 1,31,405 (in 2013); 1.29,328 (in 2014); 1.31,489 (in 2015); 1,41,603 (in 2016); 1,33,049 (in 2017); 1,34,561 (in 2018); 1,44,017 (in 2019); 85,256 (in 2020).

Data shows that in 2019, 1,44,017 Indians gave up their citizenship, while in 2022, the number rose to an all-time high, and till June 2023, nearly 87,026 surrendered their Indian passports.

The highest number of Indian passport surrenders occurred in 2022, when 2,25,620 Indians took up foreign citizenship for opportunities abroad.

Country where Indians will renounce Indian citizenship in 2022

USA: 71991
Canada 60139
Australia 40377
UK 21457
New Zealand 7911
Italy 3839
Germany 3179
Netherlands 2345
Singapore 2695
Sweden 1970

However, according to the Henley Private Wealth Migration Report 2023, wealth outflows from India have fallen to 3rd place behind the UK, with only 4,300 millionaires expected to leave the country in 2024.

Indians abroad

Over the past two decades, the number of Indian citizens exploring the global workplace has been significant. According to information provided to Parliament, the MEA said that around 13 million Indian citizens, including workers, professionals and experts, are currently residing abroad.

Many of them decided to accept foreign citizenship for reasons of personal convenience. There are no restrictions on Indian citizens traveling to foreign countries for employment. Some of them settle in the country of work and acquire foreign citizenship for personal reasons.

Number of Indians working abroad

United Arab Emirates 35.54 lakhs
Saudi Arabia 22.19 lakhs
Kuwait 8.29 lakh
Qatar 8.00 Lakhs
Oman 5.30 lakh
(top 5 countries, approx.)

Overseas Citizen of India

The Overseas Citizenship of India (OCI) scheme was introduced by amending the Citizenship Act, 1955 in August 2005. The scheme provides for registration as Overseas Citizens of India (OCI) of all persons of Indian origin (PIOs) who were citizens of India on or after 26 January 1950 or were eligible to become citizens of India on 26 January 1950.

OCI should not be misinterpreted as “dual citizenship”. OCI does not provide political rights. Registered foreign citizens of India are not entitled to enjoy the rights granted to a citizen of India under Article 16 of the Constitution.

A registered foreign national of India is granted multiple entry, multi-purpose, life-long stay visa to visit India, he/she is exempt from registration with the Foreign Regional Registration Officer or Foreign Registration Officer for any period of stay in India and is entitled to general “parity” with non-resident Indians in respect of all opportunities available to them economically , financial and educational spheres.

As of January 31, 2022, approximately 40.68 million OCI registration cards have been issued.