Podcast: “India Will Be the Biggest Market for IM in the Next 10 Years”

Ashish Saraff says he’s confident both that India will soon allow dual citizenship and that the Indian investment migration market will become the world’s largest within a decade.

In this episode of the Mobility Standard, we spoke to Ashish Saraff of Aretha Capital Partners. Himself an Indian by birth, Ashish has, for many years, been intimately involved in developing the Indian investment migration market, initially focusing on EB-5 and more recently on investment funds in European golden visa jurisdictions.

We raised a number of questions we had about what Ashish says he is confident will become the single largest investment migration market in the world within the next decade, including:

  • Why isn’t India a bigger market for investment migration? On a per-capita basis, RCBI participation in India is far lower than among the other subcontinental economies, like Pakistan and Bangladesh. Why aren’t Indians equally interested?
  • Indian outbound investment grew 10x in the six years to 2019. Why didn’t investment migration grow at a similar clip?
  • What’s the right way to enter the Indian IM market? An enormously diverse, regionalized country means that few one-size-fits-all solutions are available for those who wish to penetrate the market. What works in Mumbai may not work in Bangalore, and vice versa. Should you focus on a B2B strategy that involves building relationships with local service providers and institutions, or are you better off going directly to market with a B2C approach?
  • What are the push factors motivating Indians to invest in second residencies and citizenships? Is it true that the prospect of taxing non-resident Indians are driving demand? What about pollution and health concerns?
  • How does the restriction on dual citizenship quell demand? Is it possible we’ll soon see dual citizenship legalized in India?
  • The Indian Supreme Court has ruled that foreign lawyers cannot give legal advice in India. What constitutes legal advice? Can foreign RCBI specialists still operate legally in India?


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Christian Henrik Nesheim AdministratorKeymaster

Christian Henrik Nesheim is the founder and editor of Investment Migration Insider, the #1 magazine – online or offline – for residency and citizenship by investment. He is an internationally recognized expert, speaker, documentary producer, and writer on the subject of investment migration, whose work is cited in the Economist, Bloomberg, Fortune, Forbes, Newsweek, and Business Insider. Norwegian by birth, Christian has spent the last 14 years in the United States, China, and Spain. 

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