10 Wealthiest Cities In The World: Dubai, Bangkok Absent From The List; Indias THIS City Ranks...Among Wealthy Nations
photoDetails english 2906095 https://zeenews.india.com/photos/world/10-wealthiest-cities-in-the-world-dubai-bangkok-absent-from-the-list-indias-this-city-ranks-among-wealthy-nations-2906147 Updated:May 25, 2025, 05:57 PM IST 10 Wealthiest Cities In The World
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A recent report by Henley & Partners, in partnership with New World Wealth, highlights that while cities such as New York and the Bay Area remain at the forefront, places like Singapore and Sydney are quickly climbing the global rankings. New York City
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New York City continues to top the global wealth charts, home to around 384,500 millionaires, 818 centi-millionaires (those with assets exceeding $100 million), and 66 billionaires. Despite facing issues like high living expenses and safety concerns, its strong financial sector, thriving luxury real estate market, and cultural influence keep it a magnet for the ultra-wealthy. The Bay Area
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The Bay Area, which includes San Francisco and Silicon Valley, has seen a remarkable rise in wealth, now home to approximately 305,700 millionaires—a 98% increase over the past decade. This growth has been fueled by the booming tech sector and a strong culture of innovation. Tokyo
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Tokyo remains the wealthiest city in Asia, with 298,300 millionaires. Its continued wealth accumulation is supported by economic stability, a robust corporate sector, and ongoing technological innovation. Singapore
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Singapore is rapidly becoming a top choice for high-net-worth individuals, now home to 244,800 millionaires and 30 billionaires. Its appeal lies in pro-business policies, a high level of safety, and the absence of capital gains tax, making it a favored destination for the wealthy. Los Angeles
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Los Angeles blends entertainment with commerce, boasting 212,100 millionaires, 516 centi-millionaires, and 43 billionaires. While known for its Hollywood glamour, the city also serves as a major hub for technology, real estate, and a wide range of industries. London
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London is home to 227,000 millionaires, though it has experienced a 15% decline in its wealthy population over the past decade. This shift has been influenced by factors like Brexit, higher taxes, and changes to domicile regulations. Despite these challenges, the city's rich cultural heritage and historical importance continue to attract interest. Paris
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Paris remains the wealthiest city in mainland Europe, with 165,000 resident millionaires. Its unique combination of culture, fashion, and business continues to draw affluent individuals from around the world. Hong Kong
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Despite a slight decline, Hong Kong continues to be a key financial center, with 154,900 millionaires. Its strategic location and strong financial services industry remain major attractions for wealth. Sydney
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Sydney has climbed the rankings, now hosting 152,900 high-net-worth individuals. The city's strong economic growth and high quality of life are key factors driving its growing attractiveness to the wealthy. Chicago
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Chicago completes the top ten, with 127,100 millionaires. Its diverse economy and strategic location establish it as an important hub of wealth in the United States. Mumbai
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Mumbai holds the 27th spot, home to 51,200 millionaires. Its unique mix of culture, fashion, and commerce continues to draw wealthy individuals.
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Time of India
an hour ago
- Time of India
UAE Golden Visa vs top EU residency programs (Portugal, Greece, Malta & more): which one works best for you?
For those seeking global mobility, financial security, or a second home, Golden Visa and Citizenship by Investment programs open doors to new opportunities. Whether it's residency in Europe, business expansion in the UAE, or access to visa-free travel worldwide, these programs offer fast tracks to long-term benefits like tax advantages, business opportunities, and even citizenship. Tired of too many ads? go ad free now What is a Golden Visa? A Golden Visa is a residency-by-investment program allowing foreign investors to obtain legal residency by making qualifying investments. These programs, closely tracked and ranked by leading firms like Henley & Partners and Nomad Capitalist,appeal to entrepreneurs, investors, and professionals looking for greater mobility, better business climates, or a potential path to citizenship. Most require investments in real estate, government bonds, or funds. Europe's Golden Visas offer access to the Schengen Zone, allowing travel across 27 countries, while the UAE's program offers residency in a fast-growing, tax-friendly global hub. Let's start with the UAE's Golden Visa and then dive into a detailed face-off against Europe's top programs: Portugal, Greece, Hungary, Italy, Malta, and Cyprus. UAE Golden Visa breakdown Investment Requirements: 10-year visa: purchase property worth at least AED 2 million (~$545,000). Partial financing allowed with a minimum 20% down payment. 2-year visa: property purchase of AED 750,000 (approximately $204,000). For joint ownership with spouse, minimum AED 1 million (approximately $272,000). Mortgage buyers must pay 50% upfront for the 2-year visa. Residency Terms & Flexibility: Valid for 10 years, renewable indefinitely. No minimum stay required—residents can live abroad indefinitely without losing status. Freedom to live, work, and study across all seven emirates. Family members included: spouse, unmarried sons under 25, and unmarried daughters of any age. Taxation: No personal income tax, no inheritance tax, no capital gains tax, no property tax. Corporate tax of 9% applies only on profits over AED 375,000 (~$102,000). No global income taxation. Lifestyle & Infrastructure: Safe cities with world-class infrastructure. Direct flights to major hubs worldwide. Diverse expatriate community, with strong cultural and business ties to India and beyond. Popularity & Growth: Launched in 2019. In 2023, 158,000 Golden Visas issued by Dubai's GDRFA, up from 79,617 in 2022 and 47,150 in 2021—indicating rapid growth. Portugal Golden Visa Investment Options (minimum amounts): €250,000 (~$278,000) for arts and cultural heritage restoration. €500,000 (~$555,000) for investment fund units (most popular). €500,000 (~$555,000) for research activities. €500,000 (~$555,000) for business investment (minimum 5 jobs created). Company creation with minimum 10 jobs (variable investment amount). Residency & Citizenship: Residency permit renewable every two years. Minimum physical presence: 7 days per year to maintain residency. Citizenship eligibility after 5 years. Allows travel across Schengen Area visa-free. Family Benefits: Spouse, children under 26, and parents can be included. Taxation: Portugal taxes residents on global income, but non-habitual resident regime offers tax benefits for 10 years. Popularity: Over 33,000 permits issued since 2012. Popular among Chinese, Brazilians, Americans, Turks, and South Africans. UAE vs Portugal: Verdict Factor UAE Golden Visa Portugal Golden Visa Winner Investment Cost ~$545,000 (real estate) From ~$278,000 to $555,000 (varies by option) Portugal (lower minimum option) Residency Stay None required Minimum 7 days/year UAE (more flexible) Citizenship Timeline No direct citizenship path Citizenship in 5 years Portugal Taxation No personal income tax Taxed on global income (with exceptions) UAE Family Inclusion Spouse + unmarried children Spouse + children + parents Portugal Processing Speed As fast as 1 month Varies, generally slower UAE Lifestyle Tax-free, Middle East hub Access to Schengen Europe Depends on preference Overall Winner: Depends on goals. For fast, flexible residency and tax advantages, UAE leads. For a pathway to European citizenship with low stay requirements, Portugal is attractive. Greece Golden Visa Investment Options: €800,000 (~$888,000) minimum real estate in Attica, Thessaloniki, Mykonos, Santorini, or islands with >3,100 residents. €400,000 (~$444,000) minimum in other regions. €250,000 (~$278,000) minimum for renovation projects. Other options: shares, bonds, deposits (from €350,000 to €800,000). Residency & Citizenship: Permanent residency with no stay requirement. Citizenship after 7 years with 183+ days/year residency. Family Benefits: Spouse, children under 24, and parents included. Taxation: Special flat tax regime for foreign tax residents: €100,000 ($111,000) per year global income tax flat rate; family members pay €20,000 ($22,000) each. Popularity: Nearly 50,000 permits issued since 2014. UAE vs Greece: Verdict Factor UAE Golden Visa Greece Golden Visa Winner Investment Cost ~$545,000 From ~$278,000 to $888,000 depending on location UAE (lower minimum, but variable) Residency Stay None required None required Tie Citizenship Timeline No direct citizenship path 7 years, with stay requirement Greece Taxation No personal income tax Flat tax option for foreigners UAE (simpler) Family Inclusion Spouse + children Spouse + children + parents Greece Processing Speed ~1 month Varies, generally longer UAE Lifestyle Tax-free, global hub Access to EU & Schengen Depends on preference Overall Winner: UAE for tax simplicity and speed; Greece for cheaper investment options and EU benefits, but requires longer stay for citizenship. Hungary Golden Visa (launched 2024) Investment Options: €250,000 (~$278,000) purchase of real estate fund units. €1,000,000 (~$1.11 million) donation to higher education institution. Residency & Citizenship: 10-year validity with no renewal needed. Extendable once for 10 more years. Citizenship after 11 years of continuous residence. Family Benefits: Spouse, children under 25, and parents. Taxation: Income tax at 15%, corporate tax at 9% (lowest in EU). Popularity: Hungary's 2024 Golden Visa attracted 100+ applicants, with 11 approved by September. UAE vs Hungary: Verdict Factor UAE Golden Visa Hungary Golden Visa Winner Investment Cost ~$545,000 From ~$278,000 to $1.11 million UAE (lower entry point) Residency Stay None required Continuous residence for citizenship UAE (flexible), Hungary (citizenship path) Citizenship Timeline No direct citizenship path 11 years Hungary Taxation No personal income tax Flat income tax 15% UAE Family Inclusion Spouse + children Spouse + children + parents Hungary Processing Speed ~1 month Unknown, likely slower UAE Overall Winner: UAE for tax and speed; Hungary for lower taxes than much of Europe and a clear citizenship path. Italy Golden Visa Investment Options: €250,000 (~$278,000) innovative startup. €500,000 (~$555,000) business investment. €1,000,000 (~$1.11 million) philanthropic donation. €2,000,000 (~$2.22 million) government bonds. Residency & Citizenship: No minimum stay required for residency. Citizenship after 10 years with 183+ days/year residency. Family Benefits: Spouses, unmarried children of any age, and parents. Taxation: Special flat tax of €200,000 (~$222,000) per year on foreign income for up to 15 years. UAE vs Italy: Verdict Factor UAE Golden Visa Italy Golden Visa Winner Investment Cost ~$545,000 From ~$278,000 to $2.22 million UAE (lower entry) Residency Stay None required No requirement, but citizenship needs 183 days/year UAE (flexible) Citizenship Timeline No direct citizenship path 10 years Italy Taxation No personal income tax Flat tax for foreigners Depends (UAE simpler, Italy special regime) Family Inclusion Spouse + children Spouse + children + parents Italy Overall Winner: UAE for flexibility and lower minimum; Italy for long-term tax benefits and citizenship. Tired of too many ads? go ad free now Malta Permanent Residence Programme Investment Requirements: Property rental minimum €14,000 ($15,500/year) or purchase minimum €375,000 ($416,000). Fixed administrative fee: €50,000 (~$55,000). Donation: €2,000 (~$2,200). Contribution fee: €30,000 $33,000 (purchase) or €60,000 (rental). Total cost from approximately €182,000 $202,000 for the rental option to €457,000. for purchase. Residency & Citizenship: Lifetime residency rights. Citizenship possible but through a separate process (naturalization). Family Benefits: Includes spouses, children under 29, parents, and grandparents. Popularity: Approved 7,567 applications (2015–2021); 1,500 new in 2024, mainly from China, Vietnam, Russia, South Africa, and Turkey. UAE vs Malta: Verdict Factor UAE Golden Visa Malta Permanent Residence Winner Investment Cost ~$545,000 (real estate) ~$202,000 (rent) to $507,000 (purchase) Malta (rental option cheaper) Residency Stay None required Must maintain property ownership UAE Taxation No personal income tax Taxed on global income UAE Family Inclusion Spouse + children Extended family included Malta Citizenship Timeline No direct citizenship path Separate process UAE Overall Winner: UAE for simplicity and tax; Malta for wider family inclusion and European access. Cyprus Permanent Residence Investment Options: Minimum €300,000 (~$333,000) in residential/commercial real estate, shares, or funds. Residency & Citizenship: Lifelong validity with no renewal required. Citizenship after 8 years continuous residence. Family Benefits: Spouse and children under 25 included. Taxation: No tax on global income or inheritance. Corporate tax rate 12.5%. UAE vs Cyprus: Verdict Factor UAE Golden Visa Cyprus Permanent Residence Winner Investment Cost ~$545,000 ~$333,000 Cyprus Residency Stay None required Not specified (citizenship requires 8 years) UAE (more flexible) Citizenship Timeline No direct citizenship path 8 years Cyprus Taxation No personal income tax No global income tax Tie Family Inclusion Spouse + children Spouse + children Tie Overall Winner: Cyprus for lower minimum and citizenship timeline; UAE for flexibility and tax simplicity. Bottomline: Which Golden Visa Fits your goals? Choose UAE Golden Visa if you want: Flexible residency with no minimum stay. Fast processing and long 10-year visa. No personal income tax or global income taxation. A global business hub with easy family inclusion. Choose European Golden Visas if you want: Access to Schengen Zone and Europe's lifestyle. A path to European citizenship (Portugal, Greece, Cyprus, Italy). Lower minimum investments in some countries (Portugal, Hungary, Cyprus). Special tax regimes for foreigners (Italy, Greece). Each program has unique strengths. The UAE stands out for tax benefits and residency flexibility, while Europe offers citizenship and visa-free travel across multiple countries. Your choice depends on investment capacity, desired lifestyle, tax considerations, and citizenship ambitions.
Time of India
4 hours ago
- Time of India
UK Visa: UK hubs for exploited migrant carers are of little help, ETHRWorld
Advt Advt Join the community of 2M+ industry professionals Subscribe to our newsletter to get latest insights & analysis. Download ETHRWorld App Get Realtime updates Save your favourite articles Scan to download App A major UK initiative to match thousands of exploited migrant care workers with employers has helped less than 4% find jobs, according to a Freedom of Information request, casting doubt on the government's efforts curb the industry's reliance on new employees brought in from than 28,000 migrant care workers whose visas were tied to their employer had to be referred to government job-finding 'hubs' between May 2024 and April 2025, according data released by the Home Office in response to an FOI from charity the Work Rights Centre. That was after they lost the job they were supposed to fill when UK Visas and Immigration officers discovered more than 470 employers were exploiting staff and revoked their licenses to sponsor overseas just 941 of those so-called 'displaced' migrant staff signposted by UKVI for support, or 3.4%, reported finding alternative employment. The small proportion who've been helped calls into question the government's plan to bring down job vacancies in social care by utilizing the pool of displaced workers, after it banned recruitment of overseas social care staff last month in an effort to reduce immigration.'After Covid, England desperately needed more care workers, and thousands of people from around the world answered that call in good faith,' said Dora-Olivia Vicol, chief executive of the Work Rights Centre. 'But instead of jobs they got scams, and instead of justice they got a referral to a program that simply doesn't work as intended.'She urged the government to 'rethink their approach' to migrant care workers by fully reforming the Health and Care Worker Visa so it isn't dependent on employer Home Office has previously said 10,000 of the 40,000 who were displaced had found alternative work. A spokesman said the FOI figures 'do not provide a complete picture and workers were initially under no obligation to report their employment outcomes back to their regional partnership.''Over 900 workers have been directly matched into new employment thanks to the international recruitment fund and thousands more are being supported through our regional partnerships with CV writing, interview techniques and signposting,' the spokesman said. 'Since April employers wanting to recruit migrant care workers need to first consider recruiting from the pool of displaced workers - getting them back to work, into fulfilling careers and boosting productivity.'The Health and Care Worker Visa route was introduced by Boris Johnson's government in 2020, as the number of vacancies in the social care sector — which looks after the elderly, sick and disabled — soared due to Covid-19, Brexit and an aging population. Employers were given a fast-track route to recruit staff from abroad by applying for licenses from the Home Office to sponsor few checks were done on the businesses who became licensed to be sponsors. Bloomberg found evidence of businesses charging overseas workers tens of thousands of pounds for the opportunity to come to the UK, while some paid their workers too little, overworked them or gave them no hours at migrants couldn't quit their jobs, and in many cases were too afraid to report their employer, since their right to stay in the UK was tied to their continued employment with that business. But UKVI began investigating and revoked at least 471 employers' sponsorship licenses. That meant around 40,000 migrant staff employed by those businesses could no longer work, and were left looking for an alternative pool of workers was one reason that Prime Minister Keir Starmer felt able to announce last month plans to ban British care businesses from recruiting overseas workers. Under pressure from the growing popularity of Nigel Farage's anti-migrant Reform UK party, Starmer has been looking for ways to reduce net migration into the country — almost 700,000 people have entered the UK on Health and Care Worker Visas over the last five matching those people with jobs is proving to be harder than expected. Emails sent out to displaced workers urging them to visit their local recruitment hub have in many cases gone unanswered, according to one government source. Many are thought to have gone into so-called 'black market' work such as prostitution in order to make a living, according to another government other cases, employers have rejected workers applying through the hubs because their English language isn't satisfactory, or they fail other requirements.'We're hearing a lot of moans about the hubs,' said Jane Townsend, chief executive of the Homecare Association which represents UK home care providers. Some businesses looking for workers said it had taken months to speak to anyone at the hubs, she said. 'What we're hearing from lots of people is that they're not replying to emails. There doesn't seem to be a sense of urgency — and of course the clock ticks for the displaced workers, they've got 60 days to find another job, otherwise they get deported.'
India.com
13 hours ago
- India.com
How To Revive A Discontinued PPF Account: Reasons, Resolutions Explained
photoDetails english 2911742 Updated:Jun 06, 2025, 09:47 AM IST Public Provident Fund Withdrawal 1 / 8 Public Provident Fund (PPF) is a 15-year investment scheme under which an investor enjoys tax exemption at the time of deposit, accrual of interest and withdrawal. PPF Scheme Interest Rate 2 / 8 The PPF Scheme, introduced by the National Savings Organization in 1968 was aimed at making small savings a lucrative investment option. PPF currently offers an interest rate of 7.1 percent. PPF account lock-in period 3 / 8 Though PPF has a lock-in period of 15 years, you can make extension in a block of 5 years for tenures upto 20, 25 and 30 years. Steps to revive discontinued PPF account 4 / 8 However, for specific reasons, mentioned below, your PPF account can also be discontinued. We have also discussed how you can revive a discontinued PPF account. Here is how your PPF account shall become discontinued 5 / 8 In any financial year, if you have not made minimum deposit of Rs 500, then your PPF account shall become discontinued. It may also be noted that loan or withdrawal facility is not available on discontinued PPF accounts. Here is how to revive a discontinued PPF account 6 / 8 Discontinued account can be revived by the depositor before maturity of the account. The account holder must deposit minimum subscription fee i.e. Rs 500 plus Rs 50 as default fee for each defaulted year. Deposit for discontinued PPF account 7 / 8 The total deposit in a year, shall be inclusive of deposits made in respect of years of default of previous financial years. Minimum and maximum deposit for PPF account 8 / 8 A minimum of Rs 500 and a maximum of Rs 1.5 lakh per annum can be deposited every year in a PPF account at present. Deposits can be done maximum in 12 transactions. However, you must note that if you deposit more than Rs1.5 lakh in your PPF account per annum, the excess amount will neither earn any interest nor will be eligible for rebate under Income Tax Act.
