A millionaire in India enjoys a much better life than one in US. Most of your Indian problems are essentially less money problems. If you move right after becoming a millionaire, that's like downgrading your financial class.
I'd rather stay in a nice and friendly neighborhood, have health insurance and peaceful. Also being able to do some hobbies and watch some favorite sport matches.
I don't need to see others as lower class just to make me feel better. It's impossible.
I speak as a millionaire.
Just because you are a millionaire doesn't mean you know how to spend the money. I am a millionaire myself who has been to the US, lived a few years and came back. I have no intent of going back. Neighborhoods are not as clean as they might seem. Europe is much better in this regard. If my kids want to spend their life there then they are free to do so (they were born there so hold US passport) but i will spend my days here in India.
no millionaire(with a brain) gives a sht about class bruh. Most of the millionaires just wanna live happily after all and the kind of environment and "system" offered by countries like US are not match for india. You cant expect the same dust laden air to NOT be breathed in by a millionaire
Taxes? You pay income tax, and then GST on everything you buy? And if you want to enjoy something classified as luxury, then fk you 100%+ tax. You can't even enjoy the money for which you already paid tax.
Yep, that number seems absurdly high.
It started after brexit, these people are moving to the US or UAE or retiring in relatively LCOL developed countries.
£1m net worth for a 60 year old isn’t “evade taxes” type of money. That’s just above average money that saves decently lol — very typical person I would think
This is how it works:
USA is the goal for everyone from developing nations and below (mostly china & latin america)
UK is the goal for Indian people
UAE and EU are the goal for UK, USA and the rest
Singapore and Switzerland are the goal for EU people
The UK has lost it's culture, London is called Londonistan. There are pakistani rape gangs attacking minor.With all this bs you can't protect yourself.
I was in London a couple of months ago, it was chill af. A bit packed and the weather is shit but well, beautiful city and the migrant areas were chill too..
claiming "life in the uk is hell" makes it very clear that this is speech of hate, not of truth. yes, the situation has become worse, but they're exaggerating a lot.
If I was a millionaire I wouldn't want my hard earned money to be snatched by Govt and distributed in freebies.
India has very high Tax rates with low quality of life so it makes sense for millionaires to move out.
Millionaires aren't leaving India because they are somehow suffering. Poor countries aren't poor for the rich. The rich greatly benefit from cheap labor costs by using it to sustain a luxurious lifestyle and also their so called "hard-earned money." The UAE simply beat India out in these metrics by slashing income taxes and offering an even more uber-luxurious lifestyle. Inherited wealth plays a bigger role in a person being rich than hard work. Hope you keep this in mind before insinuating that millionaires are anywhere closed to oppressed groups.
Nah, everybody has victim cards these days. The poor are asking for more freebies, the rich want lesser taxes, leftists asking for taxing the rich, and in all this, only the middle class suffers. Neither they are rich enough, nor they enjoy freebies. House help is paid 1k to 2k rupees here, and people don't realise how cheap and exploitative it is. When the government builds luxury trains, people ask why nothing is being done for the poor. When the govt gives away tons of free ration, rich says he's getting nothing back. Everybody wants India to be like China, but don't want freebies to stop, low tax rates, and active democracy lol.
India is a nightmare. People who pay the least tax , i.e these millionaires, they leave the country as soon as they can while people who pay most taxes in the country, the middle class , are stuck in this shithole forever, losing their hard earned money to criminals in power.
I was in the US for 6 years and came back to India in 2022.
Most of the millionaires who leave are old and salaried. They were working and paying taxes in a different jurisdiction for a long time and hence the impact will be zero on the Indian economy if they leave.
If you think native millionaires are leaving, let me tell you - it is almost impossible to get PR or Citizenship of a different country at will. There are some investor visas which offer long-term residence, but they come with all sorts of restrictions wrt family, investment, taxation, etc. Also, all the native millionaires would have made their money either by working in India or running a business. Once they leave, even if they desire to keep the business running, they would have to pay taxes in India and so India isn't losing out on the tax revenue. Even if they pack up and leave, opening a business from scratch in a whole new country is a monumental challenge and only few end up doing it. For the retiree millionaires who leave India, most of them retain their investments in the Indian stock market since it's among the best performing and their existing relationship with the wealth managers. Only in the last case, India will lose out on the taxation of capital gains but it isn't high today by any means so we will barely see the impact.
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If i was a nation, millionaires would have lost me too by now
A millionaire in India enjoys a much better life than one in US. Most of your Indian problems are essentially less money problems. If you move right after becoming a millionaire, that's like downgrading your financial class.
I'd rather stay in a nice and friendly neighborhood, have health insurance and peaceful. Also being able to do some hobbies and watch some favorite sport matches. I don't need to see others as lower class just to make me feel better. It's impossible. I speak as a millionaire.
Just because you are a millionaire doesn't mean you know how to spend the money. I am a millionaire myself who has been to the US, lived a few years and came back. I have no intent of going back. Neighborhoods are not as clean as they might seem. Europe is much better in this regard. If my kids want to spend their life there then they are free to do so (they were born there so hold US passport) but i will spend my days here in India.
no millionaire(with a brain) gives a sht about class bruh. Most of the millionaires just wanna live happily after all and the kind of environment and "system" offered by countries like US are not match for india. You cant expect the same dust laden air to NOT be breathed in by a millionaire
Taxes? You pay income tax, and then GST on everything you buy? And if you want to enjoy something classified as luxury, then fk you 100%+ tax. You can't even enjoy the money for which you already paid tax.
Ahahahahaha. Go and cuddle some millionaires, pal.
I ain't gay like your dad
Money can be one part but majority of millionaire leave India because of people mentality and how Indian society of f up because of these politicians.
If you were a dollar millionaire in India your life in India would be a lot different. Life in Bulgaria is quite a bit different than life in London
This is why the comma matters.
I understand india and china, but why are rich people leaving the uk?
Yep, that number seems absurdly high. It started after brexit, these people are moving to the US or UAE or retiring in relatively LCOL developed countries.
Around 40 - 45 % tax and British economy is showing signs of slowing.
Those taxes are just for normal people, rich people don't pay that much taxes.
Sure buddy, whatever you say
£1m net worth for a 60 year old isn’t “evade taxes” type of money. That’s just above average money that saves decently lol — very typical person I would think
This is how it works: USA is the goal for everyone from developing nations and below (mostly china & latin america) UK is the goal for Indian people UAE and EU are the goal for UK, USA and the rest Singapore and Switzerland are the goal for EU people
I’m from the EU and I would never want to live in Singapore 😅 Switzerland maybe, but not really either.
You are probably also not living a multi-million dollar lifestyle, so it does not really give a lot of insights
Hey previous OP surely is a Nigerian princess/prince with a taste for the better things in life.
Brexit maybe also a factor?
45% income tax, 6% National insurance tax, 40% inheritance tax, high cost of living.
Too many indians, same problem as in india
Russian oligarchs I guess, they used to love the UK.
Grass greener
The UK has lost it's culture, London is called Londonistan. There are pakistani rape gangs attacking minor.With all this bs you can't protect yourself.
Proposed tax on rich people.
Britain has been going downhill since brexit.
https://youtu.be/z6DSENMFVmg?si=B1tx7TazmiXU3ldR
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I was in London a couple of months ago, it was chill af. A bit packed and the weather is shit but well, beautiful city and the migrant areas were chill too..
1. That's not happening 2. This claim makes you look very racist
I think you dont have bad intentions but sometimes you must know the difference between speech of truth and speech of hate.
claiming "life in the uk is hell" makes it very clear that this is speech of hate, not of truth. yes, the situation has become worse, but they're exaggerating a lot.
If I was a millionaire I wouldn't want my hard earned money to be snatched by Govt and distributed in freebies. India has very high Tax rates with low quality of life so it makes sense for millionaires to move out.
Millionaires aren't leaving India because they are somehow suffering. Poor countries aren't poor for the rich. The rich greatly benefit from cheap labor costs by using it to sustain a luxurious lifestyle and also their so called "hard-earned money." The UAE simply beat India out in these metrics by slashing income taxes and offering an even more uber-luxurious lifestyle. Inherited wealth plays a bigger role in a person being rich than hard work. Hope you keep this in mind before insinuating that millionaires are anywhere closed to oppressed groups.
Nah, everybody has victim cards these days. The poor are asking for more freebies, the rich want lesser taxes, leftists asking for taxing the rich, and in all this, only the middle class suffers. Neither they are rich enough, nor they enjoy freebies. House help is paid 1k to 2k rupees here, and people don't realise how cheap and exploitative it is. When the government builds luxury trains, people ask why nothing is being done for the poor. When the govt gives away tons of free ration, rich says he's getting nothing back. Everybody wants India to be like China, but don't want freebies to stop, low tax rates, and active democracy lol.
Now that's just good old fashion enlightened centrism
If the richest of the rich don't pay their fair share, everyone else suffers.
Millionaires and hard earned money does not go in the same sentence
Primary reason could be getting pampered treatment from the likes of Abu Dhabi and Dubai.
Best believe if I was a millionaire, you would not catch me on these streets either💀💀🙏🙏🙏
India is a nightmare. People who pay the least tax , i.e these millionaires, they leave the country as soon as they can while people who pay most taxes in the country, the middle class , are stuck in this shithole forever, losing their hard earned money to criminals in power.
True man, we are slaves now😔
Japan only +400? I thought weebs are rich af?
But immigration is very restricted in Japan
Not if you are millionair.
Why and how?
I was in the US for 6 years and came back to India in 2022. Most of the millionaires who leave are old and salaried. They were working and paying taxes in a different jurisdiction for a long time and hence the impact will be zero on the Indian economy if they leave. If you think native millionaires are leaving, let me tell you - it is almost impossible to get PR or Citizenship of a different country at will. There are some investor visas which offer long-term residence, but they come with all sorts of restrictions wrt family, investment, taxation, etc. Also, all the native millionaires would have made their money either by working in India or running a business. Once they leave, even if they desire to keep the business running, they would have to pay taxes in India and so India isn't losing out on the tax revenue. Even if they pack up and leave, opening a business from scratch in a whole new country is a monumental challenge and only few end up doing it. For the retiree millionaires who leave India, most of them retain their investments in the Indian stock market since it's among the best performing and their existing relationship with the wealth managers. Only in the last case, India will lose out on the taxation of capital gains but it isn't high today by any means so we will barely see the impact.
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India saparpawer😡
Fair tbh. Millionaires want a better life for themselves than a third world country like ours could offer.
UK is surprising... It would ideal to loss and gain separately versus net gain
coz of "ACHEDIN" .