According to the AfrAsia Bank Global Wealth Migration Review 2018, approximately 95,000 millionaires (High Net Worth Individuals-HNWIs) migrated in 2017 out of which about 10,000 HNWIs migrated to Australia.
The number of rich migrants has risen in 2017, compared to 82,000 in 2016 and 64,000 in 2015.Australia emerged at the top destination that experienced the biggest wealth inflows in 2017.
About 10,000 high-net-worth individuals, with a personal wealth of US$1m or more, arrived mostly from China, India and the UK.
Australia’s popularity was attributed to the country being safe, politically stable and, importantly, not imposing inheritance taxes on its people. The proximity to Asia also makes Australia a good base for doing business in China and Japan, the report claims.
For more details, Please listen to the full report in Pashto.
