India’s Wealth Is Going Global

India is undergoing a transformation in its wealth landscape. As of 2023, there are over 13,000 Ultra-High-Net-Worth Individuals (UHNWIs) in the country, with this number expected to rise by more than 50% in the next four years (Knight Frank, 2024). As Indian families accumulate more wealth, they are also expanding their horizons. Their children are studying abroad, they are acquiring international real estate, and they are growing businesses with a global footprint.

But while wealth is expanding, so are the complexities. Many families have yet to adopt structured offshore planning. Without the right frameworks, wealth is exposed to excessive taxation, inheritance disputes, and limitations on cross-border movement. Global lives need global strategies – and that’s where bespoke, strategic wealth planning becomes essential.

Why Offshore Wealth Planning Matters

1. Protecting and Diversifying Assets

India’s regulatory landscape – especially with FEMA and RBI restrictions – can limit mobility of wealth. Economic uncertainty, changing tax policies, and rupee depreciation further motivate families to secure part of their wealth abroad.

Offshore structuring enables:

• Geographic diversification across stable jurisdictions
• Protection from domestic political and currency risk
• Access to global banking, investment, and insurance tools

For example, setting up a trust in Singapore or a holding company in the UAE can provide both asset protection and capital deployment flexibility, while complying with Indian law.

2. Planning for Global Education

A growing number of Indian students now pursue undergraduate or postgraduate education in the U.S., U.K., Canada, or Australia. In 2023 alone, over 770,000 Indian students went abroad (Indian MEA, 2024).

Yet families often finance this in ad hoc ways – using LRS (Liberalised Remittance Scheme), NRE accounts, or family loans – without optimizing taxes or control structures.

With proper wealth planning, families can:

• Pre-fund a U.S. trust or foreign bank account to cover multi-year education costs
• Set up structures that allow children to access support while ensuring parental oversight
• Avoid future gift/inheritance taxes in countries like the U.S. or U.K.

3. Real Estate Abroad: More Than Just a Home

Indian families are increasingly investing in global property for lifestyle, business relocation, or portfolio diversification. London, Dubai, New York, Lisbon, and Singapore are favored destinations.

But buying foreign real estate needs more than a transaction:

• Who will own the property – individual, trust, company?
• What’s the impact on inheritance tax (40% in the UK; 40% in the US over
• $13.61M)?
• What happens if the primary owner dies or is incapacitated?

A structured approach using SPVs (Special Purpose Vehicles), trusts, or joint ownership can protect assets from probate and litigation, optimize tax exposure and ensure a seamless transition to the next generation.

4. Legacy and Succession Planning

The U.S. estate tax applies to non-residents owning assets above $60,000 – without planning, families could lose millions. India, while not imposing an inheritance tax currently, could revisit the idea, especially as global norms evolve.

Bespoke helps structure:

• Irrevocable overseas trusts: to ring-fence assets and reduce tax exposure
• Dynasty trusts: to provide for multiple generations without the burden of probate or repeated taxes
• Cross-border wills: aligned with Indian and foreign legal systems

From Complexity to Clarity: Bespoke’s Process

We begin by understanding each family’s global footprint and ambition:

• Where are the children studying or settling?
• Are there operating businesses or passive assets abroad?
• Do they foresee citizenship/residency planning (EB-5, Portugal Golden Visa, UAE)?

Based on needs, we design:

• International Trusts (e.g., Singapore, Mauritius, Jersey)
• SPVs or holding companies (e.g., BVI, UAE, Delaware)
• Philanthropic vehicles (e.g., U.S. 501(c)(3)–equivalent donor-advised funds)
• Dual Wills and coordinated succession documents

We work with the client’s Indian legal and tax teams – or bring in our global partner network – to ensure seamless execution and compliance with:

• RBI reporting (LRS, Form A2, Form 15CA/CB)
• Global banking regulations (FATCA, CRS)
• Real estate purchase guidelines (under RBI’s FEMA circulars)

We conduct family workshops to ensure heirs:

• Understand the purpose of each structure
• Are prepared to take over governance
• Learn tax rules of their future countries of residence

Why Offshore, Why Now?

With global uncertainty, stricter tax enforcement, and growing family dispersion, the cost of not planning is rising.

Key trends:

• OECD’s push for transparent global reporting (CRS)
• India-U.S./U.K. tax treaties allow wealth structuring with proper planning
• Rise in wealth taxes globally (OECD 2023 report)
• Greater scrutiny of cross-border transfers post-2020

For Indian families seeking long-term security and global integration, the window to plan is now.

Why Bespoke?

At Bespoke, we offer more than expertise – we offer alignment. We understand the
mindset of Indian HNWIs: ambition grounded in family values, a global outlook rooted in legacy. Our firm is built to serve that vision.

With offices and partners across the globe, we provide true cross-border continuity. We are not product-pushers. We are advisors, architects, and stewards of generational capital. Whether you’re planning to send your child to Harvard, buy a home in Mayfair, or simply shield your hard-earned wealth from unnecessary risk, Bespoke builds the bridge between your Indian roots and global aspirations.

We do this quietly, with discretion, and with a relentless commitment to doing what is right for your family’s future.

Wealth today knows no borders. And neither should your strategy. Offshore wealth planning is no longer a luxury for Indian HNWIs – it is a necessity. Bespoke is your trusted advisor in navigating this complexity, safeguarding your legacy, and enabling your family to thrive – wherever in the world they call home. With Bespoke, your wealth doesn’t just move. It evolves.

If you’re interested in learning more about Bespoke’s approach to private wealth management and how we can help you build a secure financial future, we invite you to reach out to us directly. We’d be happy to set up a confidential consultation at your convenience.

Thank you for considering Bespoke as your partner in wealth management. We look forward to the opportunity to work with you.

This information is intended for general educational purposes only and should not be construed as legal or investment advice.

Sources:

Knight Frank. The Wealth Report 2024. Retrieved
from https://content.knightfrank.com/resources/knightfrank.com/wealthreport/the- wealth-report-2024.pdf

Ministry of External Affairs, Govt. of India. Lok Sabha Ǫ&A – Indian Students Data. Retrieved from https://www.mea.gov.in/lok-
sabha.htm?dtl/36975/QUESTION+NO2650+STUDENTS+DATA+IN+FOREIGN+UNIVERSI TIES

OECD. Global Revenue Statistics & “Taxing Wealth” Policy Brief (2023). Retrieved from https://www.oecd.org/tax/global-revenue-statistics-database.htm

Reserve Bank of India. Liberalised Remittance Scheme (LRS) Guidelines. Retrieved from https://rbi.org.in/Scripts/BS_ViewMasCirculardetails.aspx?id=12043

IRS. Foreign Account Tax Compliance Act (FATCA). Retrieved
from https://www.irs.gov/businesses/corporations/foreign-account-tax-compliance- act-fatca

OECD. Common Reporting Standard (CRS). Retrieved
from https://www.oecd.org/en/publications/consolidated-text-of-the-common- reporting-standard-2025_055664b1-
en.html taxguru.in+1irs.gov+1oecd.org+10oecd.org+10oecd.org+10

IRS. Estate Tax for Nonresidents (Form 70c-NA guidance). Retrieved
from https://www.irs.gov/businesses/small-businesses-self-employed/estate-tax-for- nonresidents-not-citizens-of-the-united-stateswww2.deloitte.com+8irs.gov+8irs.gov+8

Income Tax Department of India. Form 15CA/CB Filing Instructions. Retrieved from https://www.incometax.gov.in/iec/foportal/help/statutory-forms/popular- forms/form-15ca-faq