Around 10,000 Millionaire immigrants or HNIs immigrated to Australia in the year 2017 from India, China, and the UK. These had a personal wealth of USD 1 million or plus, as quoted by the Guardian.
Millionaire immigrants are continuing to prefer Australia for the third consecutive year as per the latest report. Affluent individuals are attracted by Australia’s proximity to Asia, no inheritance taxes, and relative safety.
Sydney and Melbourne were among the top 10 global cities to have a net migration of millionaires. The same holds good for Auckland City in New Zealand.
Sydney is one of the affluent cities globally. It is a part of the increasing global immigration of millionaires. This has been revealed by the Global Wealth Immigration Review 2018 Report by the AFR Asia Bank. The top cities are the canaries in the economic collapse coalmine, adds the report.
In 2017 the numbers of millionaires immigrating worldwide enhanced by 15% to 95,000. The authors of the report have said that nations that have witnessed a net deficit of millionaires in 2017 must consider it as a bad sign. This is inclusive of the UK with a net loss of 4,000 millionaires in the year.
The GWM Report elaborates that one must analyze at the major collapse of any nation in history. It is generally preceded by an immigration of the affluent individuals away from that nation, it adds.
Australia is a preferred destination as it is politically stable and safe and most crucially does not have taxes for inheritance. The affinity to Asia also makes the nation a good base for doing business with Japan and China.
Y-Axis Australia team includes process consultants and RMAs who facilitate applicant immigrants with issues related to immigration and visas. Our team works in collaboration with India’s National Processing Center in Hyderabad to offer services to the clients.
The services offered by Y-Axis Melbourne include assistance and legal advice for immigration by Registered Migration Agents, Job Search Service, and Visa Assistance.
If you are looking to Study, Work, Visit, Invest or Migrate to Australia, talk to Y-Axis, the World’s No.1 Immigration & Visa Company.