Culture
LONDON: UK attracting a growing number of high net worth Indians
LONDON: The United Kingdom is a
destination of choice for Indian professionals, students and entrepreneurs. In
the post pandemic situation and after Brexit, the popularity of the UK has been
increasing manifold.
The ambitious new migration partnership which was signed by the UK and India
earlier this year, will, in fact, make it easier for young Indian professionals
to live and work in the UK. The agreement is part of the UK government’s
commitment to deliver an immigration system that attracts the best and brightest
individuals from India and around the world.
An important segment of Indians who are attracted to the UK are high net worth
individuals, looking at setting up businesses or expanding their existing
operations. The UK provides them with access to investors and good financial
markets, feel experts.
“Immigration to the UK by wealthy Indians has been on a steady increase
and surprisingly Brexit has not been a deterrent as some people expected. The
pandemic has again brought in added momentum to this trend of immigrating to
the UK and buying homes there. The reasons remain the same – familiarity of
language, clean air and good infrastructure, access to capital markets, ease of
doing business and the UK being well situated to deal with time differences both
in the east and west – hence a lot of global businesses find it easier to
operate out of the UK,” explains Pallavi Bakhru, partner and leader,
private client services at Grant Thornton Bharat, a tax advisory firm.
The presence of a large Indian
diaspora, good educational facilities and access to good healthcare also remain
some of the long-term reasons for Indians to move to the UK.
Sole representative of an overseas business is a visa category that is gaining
popularity among Indian business families looking to move to Britain. “The
overseas business category has picked up interest among our clients from India.
There has been a major shift in interest towards this category and we continue
to see a rise in enquiries and mandates. This category allows business owners
across the globe to open a branch or a subsidiary in the UK and nominate one
immigrant to run the business, who is not a major shareholder in the overseas
operations,” says Ashish Saraff, founder and CEO, Aretha Capital Partners,
a UK-based real estate investment company. He adds that the investment
requirements of this category are significantly lower than the minimum £2
million requirement of UK’s Tier-1 investor visa and approvals are usually
swift. Besides, the sole representative of an overseas business can take their
spouse and minor children to the UK. After five years of legal residence, the
migrant can apply for indefinite leave to remain or permanent residence.
“Clients from India have been very successful in this category, across varied
industries ranging from construction, fast food, exports, entertainment and
technology,” Saraff said.
Mark Davies, global chairman at Davies & Associates, a law firm, agrees
that Indian HNIs are one of the largest applicant groups for the UK sole representative
visa as well as the UK investor visa, and the UK start-up visa with about 20
per cent of the total visas issued in each of these categories going to Indians
every year.
No surprise that investing in property has become an important route for high-net-worth
Indians to invest in the UK. “Culturally Indians love to buy houses, in
whichever part of the world they may choose to call home. And the UK is no
different with most people tending to concentrate on London and its suburbs
when investing in property. We increasingly find that HNIs who are not
contemplating immigrating to the UK are keen to buy second homes there for
vacations and for their children who go there for education,” says Bakhru
of Grant Thornton Bharat.
The advantages, according to her, are diversifying family wealth via real
estate in a market that is not volatile and gives steady and significantly
higher returns on rentals than India as well as capital appreciation. “The
challenges, however, are around navigating the regulatory requirements placed
under the Indian Foreign Exchange Management Act (FEMA) for such investments,
ensuring adequate disclosure in tax filings and of course the attendant costs
of owning and looking after a property in the UK including annual property tax,
home owners’ insurance, utilities and maintenance cost , which can be a concern
if the property is not used enough,” adds Bakhru.
The fact that London is one of the most desirable cities in the world to own property in, adds to the attraction for Indians. “The global elite, especially the who’s who of Commonwealth countries own a property in London. They are attracted by the security, lifestyle, cultural delights and low property taxes,” says Reshma Mukhi, owner and founder of Millennium Blue, a property search firm in London. She, however, cautions that London is a complex market for outsiders to comprehend because every neighbourhood has its own unique character. “Prices per square foot between neighbourhoods, and even between adjoining streets within a neighbourhood, can differ dramatically. Without a competent local agent to help, it may seem like a maze to an overseas buyer.”
NEW YORK: Celebrations sparkled up the Times Square in New York City yesterday as the Indian community and several US citizens gathered to observe the Hindu festival of lights.
The event featured performances from various cultural groups. Among the notable attendees were Mayor Eric Adams, New York State Assemblywoman Jennifer Rajkumar, Senator Chuck Schumer and Consul General of India in New York, Binaya Pradhan. Ms Rajkumar has been a key advocate for recognizing Diwali as a school holiday in the USA throughout.
Mayor Adams took to social media platform X (formerly, Twitter) to address the event.
“Proud to be with our Hindu brothers and sisters today for the annual Diwali at Times Square celebration as we push away the darkness and welcome in light all across our city,” he wrote.
What better place to celebrate the festival of lights than in the Crossroads of the World?
Proud to be with our Hindu brothers and sisters today for the annual Diwali at Times Square celebration as we push away the darkness and welcome in light all across our city. pic.twitter.com/VauEgY14IO
— Mayor Eric Adams (@NYCMayor) October 20, 2024
The official Twitter account of the Consulate General of India, New York also shared pictures of the glamourous celebrations on social media.
Diwali @ TimesSquare : Indian American Community & American Friends join together at Times Square to celebrate Diwali.@narendramodi @PMOIndia @MEAIndia @IndianEmbassyUS @IndianDiplomacy @diaspora_india @binaysrikant76 pic.twitter.com/kylTXrtbni
— India in New York (@IndiainNewYork) October 20, 2024
Neeta Bhasin, founder of Diwali at Times Square, also played an instrumental role during the celebration. The festivities culminated in a ceremonial lighting of diyas (lamps), symbolizing hope and renewal.
Diwali has been celebrated in the heart of New York City since 2013. As attendees gathered to witness this moment, they were reminded of the festival’s core values and its ability to unite diverse communities.
CG @binaysrikant76 joined friends from Indian-American Community & American friends to celebrate Diwali; Spl thanks to Senate Majority Leader Senator @SenSchumer , Mayor Eric Adams @NYCMayor , Assemblywoman @JeniferRajkumar for joining & to main organiser of the event Ms. Neeta… pic.twitter.com/Ul7gsLoiYb
— India in New York (@IndiainNewYork) October 20, 2024
Diwali has also been officially recognized as a school holiday in New York City last year. About 4.4 million Indian origin people reside in the US with persons of Indian origin constituting the third largest Asian ethnic group in the US, according to ANI. New York, San Francisco and Chicago metropolitan areas are places in the USA which have the highest population of the Indian community in the country.
Another event to commemorate Diwali was organised by the Indian Consulate in Pennsylvania.
Deputy Consul General @varunjeph joined the Diwali celebrations by Khalsa Asian American Association in Upper Darby, Pennsylvania along with members of the Indian diaspora and Asian American community.
Thank you @UpperDarbyPA Mayor Ed Brown and PA State Senator Tim Kearny… pic.twitter.com/6LzwVJ3FR1
— India in New York (@IndiainNewYork) October 20, 2024
Deputy Consul General Varun Jeph joined the Diwali celebrations by the Khalsa Asian American Association along with members of the Indian and Asian American community.
While the festive spirit, through such events and recognitions, continues to exhibit an attempt at endeavours towards fostering a spirit of unity and equality, the Asian American Pacific Islander (AAPI)’s recent report showed another side of South Asian experiences. As reported by Reuters, the AAPI study shows that South Asian people in the US have been facing alarmingly high levels of hate ahead of the 2024 elections, which transcends not just to the common people but also to heavyweights such as Kamala Harris, and Usha Vance. Such celebrations of South Asian festivities thus do their bit in bringing together the diverse communities in a dazzling show of vibrant unity across the globe.
Last year, Prime Minister Narendra Modi sent a video message to ‘the attendees, emphasizing the festival’s role in promoting unity and goodwill. He stated that Diwali serves as a reminder of the victory of good over evil and the importance of knowledge over ignorance. He has also highlighted the importance of the Indian community in the US and referred to them as a ‘living bridge’ connecting the two places. Diwali falls on November 1st this year.
NEW YORK: Prime Minister Narendra Modi recently addressed tens of thousands of Indian-Americans in a grand community event at the Nassau Coliseum in Long Island. The chants of “Modi, Modi” filled the stadium as the prime minister walked on stage to address people of Indian origin.
The Prime Minister started his speech with the chants of “Bharat Mata ki Jai!”. He began by saying that even the ‘Namaste’ has gone from being local to global, and credited the Indians settled overseas for it.
A series of cultural performances entertained the people gathered at the stadium, who were enthused as they waited for the Prime Minister’s arrival.
During his speech, Prime Minister fondly recalled his previous community events in the United States – 2014 at the Madison Square Garden, 2016 in San Jose, California, 2018 in Houston, Texas, 2023 in Washington and now in Long Island.
He credited the Indians settled in the United States. He said that they have been the bridge between the two nations and have helped strengthen the India-US relationship. He said “you all have come seven seas apart, but nothing can ever take the love of India away from your hearts and souls.”
He said that people from different parts of India may have settled overseas – here in the US too and have become US citizens, but “the sentiment that brings us all together is, ‘Bharat Mata ki…(Jai! chanted the spectators)’.”
“This sentiment is what keeps us united, and this is our biggest strength, no matter where we go in the world,” he said, adding that “It is this sentiment that helps us be peaceful, law abiding global citizens – what makes India proud of its children – and makes the world realise that India is the world’s ‘Vishwa-Bandhu’.”
Calling the Indians settled in the United States ‘Rashtradoot’ (Ambassadors), the prime minister thanked the Indian community in the United States for the respect India has earned in that country, adding that “It is our Indian values and culture that makes us One.”
WASHINGTON: Dhruvi Patel, a Computer Information System student from the USA, has been declared the winner of Miss India Worldwide 2024, the longest running Indian pageant outside of India.
Dhruvi aspires to be a Bollywood actor and UNICEF Ambassador.
“Winning Miss India Worldwide is such an incredible honour. It’s more than a crown – it represents my heritage, my values, and the opportunity to inspire others on a global scale,” Dhruvi said after her crowning in Edison, New Jersey.
Lisa Abdoelhak from Suriname was declared the first runner-up, while Malvika Sharma from the Netherlands was adjudged the second runner-up in the same race.
In the Mrs category, SuAnn Mouttet from Trinidad and Tobago was the winner, with Sneha Nambiar the first and Pawandip Kaur from the United Kingdom the second-runner up.
In the Teen category, Sierra Suret from Guadeloupe was crowned Miss Teen India Worldwide.
Shreya Singh from the Netherlands and Shradha Tedjoe from Suriname were declared the first and second runners-up.
The beauty pageant is organised by New York-based India Festival Committee and is headed by Indian-Americans Neelam and Dharmatma Saran.
The crown is celebrating its 31st anniversary this year.
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