New Delhi, March 28 -- One in every five ultra-high net worth individuals in India is either in the process of migrating overseas or plans to, according to a survey by Kotak Private Banking, a unit of Kotak Mahindra Bank.

Its study found a higher propensity to migrate among professionals than entrepreneurs or those who inherited their wealth. Also, the rich aged between 36 and 40 years were more likely to pack up and leave, as well as those above 61. The preferred destinations included the US, UK, Australia, Canada and the UAE.

The motives are many, such as their quest for an improved standard of living in general or better healthcare, education and lifestyles in particular, as the survey found. While India has been making leaps in many...