Rich Pakistanis Among World's Top Nationalities Migrating Abroad

[RiazHaq]

Rich Pakistanis Among World's Top Nationalities Migrating Abroad

News, analysis and opinions about India, Pakistan, US, Canada, Europe, Mid East, South Asia, Silicon Valley, High Technology, Economy, Politics, World

www.riazhaq.com

Rich Pakistanis ranked third in the world for making inquiries to migrate abroad last year, according to a report by Henley and Partners. High net worth individuals (HNWIs) from India topped the list of those seeking to migrate, followed by Americans and Pakistanis. Pakistan is among nations that experienced "significant wealth outflows" in 2019, according to Afrasia Bank. There has been a 25% increase in the number of HNWIs enquiring about citizenship-by-investment as opposed to residence-by-investment programs since the coronavirus was first reported nearly a year ago, indicating that wealthy international investors are considering a more permanent change.

Pakistan Among Countries With Significant Wealth Outflow. Source: Afrasia Bank

In 2019, the UAE initiated a new system for investment-based long-term residence visa called Iqama. It enables foreigners to live, work and study in the UAE without the need of a national sponsor and with 100% ownership of their business on the UAE’s mainland. These visas are issued for 5 or 10 years and will be renewed automatically.

Several countries in Europe and the Caribbean are offering residency visas or a second passport and citizenship. Popular destinations include New Zealand, the Caribbean Islands, Portugal, Malta, Spain, Cyprus and Greece. Requirements for investment-based citizenship vary from country to country but is usually about 10 years of continuous residency. Some countries, like Greece, offer citizenship after a shorter period of 7 years. Others have no stay requirement at all. European Union (EU) member nations like Cyprus, Greece and Malta offer EU passports.

Many rich Pakistanis are continuing to flock to the United Kingdom. Recent US FinCEN (Financial Crime Enforcement Network) files show that the United Kingdom (UK) is the biggest global center for money laundering. An earlier report issued by the British Crime Agency put Pakistan among the world's top sources of money laundering in the United Kingdom.

FinCEN leaks represent just the tip of an iceberg. The leaked 2,100 FinCEN files covering $2 trillion worth of transactions that ICIJ (International Consortium of Investigative Journalists) and Buzzfeed reporters got their hands on represent just a small sliver of the roughly 12 million SARs FinCEN has received since 2011. Pakistan's Prime Minister Imran Khan has repeatedly raised the issue of the West's inaction in stopping the illicit flows of hard currencies from developing nations to the developed world. Money laundering and other financial crimes affect the economic roots of a nation like Pakistan and slow down its human and socioeconomic development.

Related Links:


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South Asia Investor Review

The West Enables Corruption in Developing Nations

Did Musharraf Steal Pakistani People's Money?

Pakistan Economy Hobbled By Underinvestment

Raymond Baker on Corruption in Pakistan

Nawaz Sharif Disqualified

Culture of Corruption in Pakistan

US Investigating Microsoft Bribery in Pakistan

Zardari's Corruption Probe in Switzerland

Politics of Patronage in Pakistan

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Riaz Haq's Youtube Channel


PakAlumni Social Network

Rich Pakistanis Among World's Top Nationalities Migrating Abroad

News, analysis and opinions about India, Pakistan, US, Canada, Europe, Mid East, South Asia, Silicon Valley, High Technology, Economy, Politics, World

www.riazhaq.com

 

[BATMAN]

Anyone who can afford to escape will escape.
Thanks to the corruption of Imran Khan and the IMF brokers. The alliance and resulting corruption is so obvious that it's hard to avoid it.

Every construction award decided under dictatorship of Imran Khan has corruption written all over it.

 

[Trango Towers]

Anyone who can afford to escape will escape.
Thanks to the corruption of Imran Khan and the IMF brokers. The alliance and resulting corruption is so obvious that it's hard to avoid it.

Every construction award decided under dictatorship of Imran Khan has corruption written all over it.

No corruption before imram Khan.

Oh the pandos and their fat thieving gods in London

 

[PAKISTANFOREVER]

Anyone who can afford to escape will escape.
Thanks to the corruption of Imran Khan and the IMF brokers. The alliance and resulting corruption is so obvious that it's hard to avoid it.

Every construction award decided under dictatorship of Imran Khan has corruption written all over it.

So before Imran Khan and PTI came to power there was no corruption in Pakistan?.............

 

[BATMAN]

So before Imran Khan and PTI came to power there was no corruption in Pakistan?.............

No one ever said this.

However, corruption has increased exponentially, ever since Imran Khan and mafia came to power.

or may be you have a case of infrastructure project, which is executed by Imran Khan and mafia at cost lower than previous regime and with better quality!!

I can help by pointing at an opportunity to prove transparency international wrong,... i.e. M6 which is the last and shortest leg of KLM motor way... so if Imran Khan and his foreign allies are upto accepting challenge, than that's their only comparable chance, where they can prove them selves better than Nawaz Sharif /Pervez Musharraf.

only having skills in election rigging is no quality and no amount of argument can beat tangible results.

 

[Valar.]

High net worth individuals (HNWIs)

How much is the minimum value to be considered HNWI?

 

[PAKISTANFOREVER]

No one ever said this.

However, corruption has increased exponentially, ever since Imran Khan and mafia came to power.

or may be you have a case of infrastructure project, which is executed by Imran Khan and mafia at cost lower than previous regime and with better quality!!

I can help by pointing at an opportunity to prove transparency international wrong,... i.e. M6 which is the last and shortest leg of KLM motor way... so if Imran Khan and his foreign allies are upto accepting challenge, than that's their only comparable chance, where they can prove them selves better than Nawaz Sharif /Pervez Musharraf.

only having skills in election rigging is no quality and no amount of argument can beat tangible results.

You've made your point. Now could you please back it up with credible and genuine facts and evidence? For a start, WHERE is the evidence that corruption has gone up EXPONENTIALLY since PTI and Imran Khan have come to power? Could you post the links here please?

 

[TheSnakeEatingMarkhur]

Rich Pakistanis Among World's Top Nationalities Migrating Abroad

News, analysis and opinions about India, Pakistan, US, Canada, Europe, Mid East, South Asia, Silicon Valley, High Technology, Economy, Politics, World

www.riazhaq.com

Rich Pakistanis ranked third in the world for making inquiries to migrate abroad last year, according to a report by Henley and Partners. High net worth individuals (HNWIs) from India topped the list of those seeking to migrate, followed by Americans and Pakistanis. Pakistan is among nations that experienced "significant wealth outflows" in 2019, according to Afrasia Bank. There has been a 25% increase in the number of HNWIs enquiring about citizenship-by-investment as opposed to residence-by-investment programs since the coronavirus was first reported nearly a year ago, indicating that wealthy international investors are considering a more permanent change.

​

Pakistan Among Countries With Significant Wealth Outflow. Source: Afrasia Bank

In 2019, the UAE initiated a new system for investment-based long-term residence visa called Iqama. It enables foreigners to live, work and study in the UAE without the need of a national sponsor and with 100% ownership of their business on the UAE’s mainland. These visas are issued for 5 or 10 years and will be renewed automatically.

Several countries in Europe and the Caribbean are offering residency visas or a second passport and citizenship. Popular destinations include New Zealand, the Caribbean Islands, Portugal, Malta, Spain, Cyprus and Greece. Requirements for investment-based citizenship vary from country to country but is usually about 10 years of continuous residency. Some countries, like Greece, offer citizenship after a shorter period of 7 years. Others have no stay requirement at all. European Union (EU) member nations like Cyprus, Greece and Malta offer EU passports.

Many rich Pakistanis are continuing to flock to the United Kingdom. Recent US FinCEN (Financial Crime Enforcement Network) files show that the United Kingdom (UK) is the biggest global center for money laundering. An earlier report issued by the British Crime Agency put Pakistan among the world's top sources of money laundering in the United Kingdom.

FinCEN leaks represent just the tip of an iceberg. The leaked 2,100 FinCEN files covering $2 trillion worth of transactions that ICIJ (International Consortium of Investigative Journalists) and Buzzfeed reporters got their hands on represent just a small sliver of the roughly 12 million SARs FinCEN has received since 2011. Pakistan's Prime Minister Imran Khan has repeatedly raised the issue of the West's inaction in stopping the illicit flows of hard currencies from developing nations to the developed world. Money laundering and other financial crimes affect the economic roots of a nation like Pakistan and slow down its human and socioeconomic development.

Related Links:


Haq's Musings

South Asia Investor Review

The West Enables Corruption in Developing Nations

Did Musharraf Steal Pakistani People's Money?

Pakistan Economy Hobbled By Underinvestment

Raymond Baker on Corruption in Pakistan

Nawaz Sharif Disqualified

Culture of Corruption in Pakistan

US Investigating Microsoft Bribery in Pakistan

Zardari's Corruption Probe in Switzerland

Politics of Patronage in Pakistan

Why is PIA Losing Money Amid Pakistan Aviation Boom?

Riaz Haq's Youtube Channel


PakAlumni Social Network

Rich Pakistanis Among World's Top Nationalities Migrating Abroad

News, analysis and opinions about India, Pakistan, US, Canada, Europe, Mid East, South Asia, Silicon Valley, High Technology, Economy, Politics, World

www.riazhaq.com

Indian rich people trying to go abroad due to Modi and polarisation...

On other hand Pakistani rich people trying because of future policies outlined by current govt...

 

[Mugen]

Maybe running away because most of the money made through corruption?

 

[TheSnakeEatingMarkhur]

Anyone who can afford to escape will escape.
Thanks to the corruption of Imran Khan and the IMF brokers. The alliance and resulting corruption is so obvious that it's hard to avoid it.

Every construction award decided under dictatorship of Imran Khan has corruption written all over it.

More like corrupt goons trying to move abroad because they know they will be caught or wouldn't be able to do Corruption.. and dont start with arguement that rich in Pakistan are honest if they were we wouldn't have 3% people paying income tax..

 

[Norwegian]

Thanks to the corruption of Imran Khan

Khota Biryani consumption syndrom

Every construction award decided under dictatorship of Imran Khan has corruption written all over it.

Where is the proof brainless Patwari?

 

[Black.Mamba]

How much is the minimum value to be considered HNWI?

Different organizations treat it differently but 1 Million$ is considered the industry standard. In my opinion, the scale of corruption Pakistan has witnessed in the last 40 odd years these HNWI lists are meaningless, 1M$ is pennies for such people and if there is some data available about these exact people you will find most of them are not HNWI rather Ultra-high-net-worth individuals (UHNWI).

I know a few people personally who were appointed by the Sharif's, one of them made over 50 Million$ in about 3 to 4 years. This individual's father happens to be a senior pilot in PIA and had been acting as a personal driver to the family, this son was a security guard at JFK and once the sharif's came in power in 2013 he packed his stuff from JFK and landed at Lahore knowing he can get some favors, he got appointed as some hot-shot consultant(all he had was the typical fake accent) for a multi-billion rupee project, though legally speaking he was equivalent to a grade 16 officer however on the pretext of Pre-qualifying contracts, to the award of contracts, from mobilization guarantees to payments he got 10-15% percentage from different contractors. Long story short that 4 years of the job has brought him an entourage of super and hyper cars in US while before that he was driving a beaten up honda accord of 80s or 90s.

So imagine this is one story of someone absolutely no body and that too of grade 16 contractual employee, Imagine the people who have been working for last 30 years, the so-called career bureaucrats, the blue-eyed boys of the sharifs. This country is being robbed with both hands day in day out and unfortunately, I do not think IK can do anything about it, he probably doesn't understand the full dynamics how these people operate.

 

[Norwegian]

No corruption before imram Khan.

Nope. All patwaris were born after 25 July 2018.

However, corruption has increased exponentially, ever since Imran Khan and mafia came to power.

Proof Patwari?

or may be you have a case of infrastructure project, which is executed by Imran Khan and mafia at cost lower than previous regime and with better quality!!

Try new wind and hydro power projects that are executed much cheaper than your favorite Khota Biryani govt

only having skills in election rigging is no quality and no amount of argument can beat tangible results.

Only PPP and PMLN has best experience in rigging elections, Patwari

For a start, WHERE is the evidence that corruption has gone up EXPONENTIALLY since PTI and Imran Khan have come to power?

Check his Khota Biryani plate for evidence

On other hand Pakistani rich people trying because of future policies outlined by current govt...

Lol they are running from taxes?

Maybe running away because most of the money made through corruption?

Yes NAB and FIA is after them. Makes sense

 

[PakFactor]

Different organizations treat it differently but 1 Million$ is considered the industry standard. In my opinion, the scale of corruption Pakistan has witnessed in the last 40 odd years these HNWI lists are meaningless, 1M$ is pennies for such people and if there is some data available about these exact people you will find most of them are not HNWI rather Ultra-high-net-worth individuals (UHNWI).

I know a few people personally who were appointed by the Sharif's, one of them made over 50 Million$ in about 3 to 4 years. This individual's father happens to be a senior pilot in PIA and had been acting as a personal driver to the family, this son was a security guard at JFK and once the sharif's came in power in 2013 he packed his stuff from JFK and landed at Lahore knowing he can get some favors, he got appointed as some hot-shot consultant(all he had was the typical fake accent) for a multi-billion rupee project, though legally speaking he was equivalent to a grade 16 officer however on the pretext of Pre-qualifying contracts, to the award of contracts, from mobilization guarantees to payments he got 10-15% percentage from different contractors. Long story short that 4 years of the job has brought him an entourage of super and hyper cars in US while before that he was driving a beaten up honda accord of 80s or 90s.

So imagine this is one story of someone absolutely no body and that too of grade 16 contractual employee, Imagine the people who have been working for last 30 years, the so-called career bureaucrats, the blue-eyed boys of the sharifs. This country is being robbed with both hands day in day out and unfortunately, I do not think IK can do anything about it, he probably doesn't understand the full dynamics how these people operate.

If you can DM me that individual's name --
I can have my contacts after him to prosecute him be it US or Pakistan --

 

[Black.Mamba]

If you can DM me that individual's name --
I can have my contacts after him to prosecute him be it US or Pakistan --

I dont know how to send a DM, fairly new here you can send me I will reply. If the forum permits I can write it publically. If he can do all this corruption publically I can for sure write the details publically as well