Sachit joined Globe Detective Agency (P) Ltd. (GDA), the pioneer and leading private Investigation company in India, where it has been established for over five decades, after completing his Masters in Business Administration from the Strathclyde Business School in Glasgow, Scotland in 1987. His long career in the business of investigations and security has been marked by several awards and accolades.
In this interview with Sachit Kumar, he shares with us his thoughts
- How would you describe the state of the investment immigration industry today?
My description is clearly echoed by a recent article published in The Investment Migration Insider revealing that the investment immigration industry is accelerating speedily; it has grown from US$2.9 billion (in 2011) to US$21.4 billion (in 2018) and estimated to reach US$100 billion in revenue by 2025 if 23% CAGR trend persists. There are going to be serious challenges and Enhanced Due Diligence is going to be as centre of attention for the investment immigration industry.
- How do you see the investment immigration industry evolving over the next few years?
Governments have clearly understood how investment migration industry has contributed to the GDPs of the countries offering Citizenship-by-investment or Residence-by-Investment and hence, more and more countries would start offering the same soon. Latest example is that of Greece, which has planned to launch its program in 2020.
The numbers of those considering a second passport is rising, with the biggest markets being Latin America, Russia and CIS and Africa. A recent survey (Knight Frank’s Attitudes Survey) has revealed that the percentage of Ultra High Net Worth Individuals (UHNWIs), holders of a second passport, has reached 36% (71.300 people) and while a further 29% (57.400) is planning to obtain one. Based on the survey, the overall total number of UHNWIs is 198.000 and it’s expected to rise to 250.000 over the next five years.
Sachit KumarDirector, Globe Detective Agency Pte Ltd
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