Integrating Residence and Citizenship into Wealth Planning
At the Hubbis India Wealth Management Forum 2026, Dominic Volek, Group Head of Private Clients at Henley & Partners, identified a shift in how India’s wealthy families manage their affairs. Wealth has grown increasingly international. Children study abroad, businesses operate in multiple markets, and assets sit in various jurisdictions. These developments force families to move beyond simple investment or estate planning. They now face questions about where they hold residence and whether they need additional citizenship options.
For many, the goal is not immediate relocation but flexibility. A second residence can offer a hedge against geopolitical volatility or simplify travel for business and leisure. Volek emphasized that this is a pragmatic move to reduce concentration risk. If a family has the financial capacity, limiting their options to one country acts as a liability. Establishing alternatives early gives families control before they are forced to act under pressure.
Education, Mobility and the Next Generation
Education remains a primary catalyst for these conversations. Indian families frequently look toward the United States, United Kingdom, and Switzerland for higher learning. However, Volek warned that families often stop their planning at the admissions stage. A student visa provides entry, but it does not guarantee a long-term path to work and residency after graduation. Failing to plan for the post-degree period can leave children with a degree but no legal way to remain in their host country.
Mobility for the current generation is equally critical. Indian passport holders often face visa hurdles when accessing major international hubs. European residence programs offer a solution. Programs in countries like Greece, Italy, or Portugal can ease travel within the Schengen Area. Volek noted that the firm currently manages over 60 different residence and citizenship options. The best choice depends entirely on whether the client prioritizes ease of travel, career prospects for children, or tax efficiency.
Managing Cross-Border Complexity
Tax and lifestyle considerations often emerge once a family decides they are open to physical relocation. The United Arab Emirates, Singapore, and Hong Kong remain popular destinations for those seeking different tax environments. Yet, Volek reminded attendees that simply obtaining a new residence permit does not automatically change one's tax status. The decision requires a review of domestic tax laws and a genuine change in where the family member lives.
Legacy and estate planning also grow more complex when family members scatter across the globe. By aligning residence rights with their broader portfolio, families can create a cohesive strategy that spans multiple generations. Henley & Partners describes its approach as program agnostic, meaning the advisor should identify the family's needs first rather than pushing a specific, well-known program. This ensures the solution actually matches the client's stated goals.
The Role of the Professional Advisor
Private bankers, lawyers, and family offices are typically the first to notice when a client needs this type of advice. Volek argued that advisors should not shy away from these topics. When a family already has children abroad or business interests in several countries, the conversation about residence is a logical next step in protecting wealth.
Ignoring these questions won't keep the client's focus on traditional domestic planning. Instead, it invites the client to seek those answers elsewhere. By incorporating residence and citizenship planning into their services, advisors can strengthen their relationships and provide a more useful service. As families continue to transition from regional to global players, the ability to navigate these international borders will define the next phase of wealth management in India.