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I'm thinking of getting out of pakistan.
- Thread starter dakoo
- Start date
Sadly there's a big immigration problem in Europe at the moment and Pakistan is viewed as a 3rd world country so unless you have a proper job and can prove a decent salary (regular monthly payments) I think you're going to find it hard to get anything more than a tourist visa, and you might even struggle with that.
Beggars can't be choosers which is why Thailand is probably your best bet.
Beggars can't be choosers which is why Thailand is probably your best bet.
Quote from dakoo:
What I'm actually looking for here is some insight as to whether i can move to some european state as a professional trader. what kind of legal jumble would that entail? Any input on that would be appreciated.
Its very difficult, most European countries are already clamping down hard on immigration. In the UK, there are plans to reduce immigration very substantially and this includes cutting fee paying foreign students. Just imagine that, even if you can pay tens of thousands of pounds for your education, they dont want you. Unless you are working for an MNC nowadays, it is very very difficult to get a sponsorship for a work permit. The other alternative is if you have relatives already in the country.
Lifestyle should also be a factor in your consideration and I am sure you know the term "paki" is used in England like "nigger" is in the USA. Coming from a country where you live as the majority, the stereotyping will be a culture shock. That is the UK, I imagine it must be a lot worse in other European countries. It does look like Dubai will be your best choice, at least you can sort of blend in there. Singapore might not be too bad, lots of indians around, although they are tightening up on immigration after severe losses in recent elections.
Quote from dakoo:
does anybody have any idea about cyprus and their visa regimes?
Look on the immigration websites of the government. It's inefficient asking here for visa rules, it's a website of traders not immigration lawyers.
I would say Dubai would be best: cheap cost of living nowadays post-crash, relatively relaxed visas, low tax, and there are some trading arcades. Singapore would also be good if you can get a residence visa and the cost of living is not too high for you.
How about start in Dubai, then if you make it bigger (500k+) in a few years, move to Singapore.
UK is hard - unless you have relatives there you are probably not going to get a visa. In future though, you can get a business visa if you bring in a bit of cash (I think it's around £200k at the moment) and keep it in a UK bank. Also, UK is a tax-haven for non-brits - no tax on foreign-source income (i.e. any trading done outside the UK). However the cost of living in London is pretty high, a decent 1 bed apartment in a good area is £2k per month.
For traders I'd rank the locations as this:
entry level: Dubai, Moscow/St Petersburg, some parts of Eastern Europe (with the low/flat taxes)
2nd tier: Singapore, Hong Kong, Monaco, USA, UK (if you're British), Dublin
Top tier: UK/London (if you aren't British), Switzerland
Almost anywhere else is either high tax, or not that pleasant to live in or trade for a living from. Places like Thailand, the infrastructure and business support is simply not good enough to be a pro trader.
I think your best bet is to go to Britain. More likely than not England is your best option... They have the best human rights record so you probably won't have to worry too much about racism or anything like that. They also have a well established financial sector that could provide you with lots of opportunities. My advice is to visit the place first and then make a decision. It might be worth it to you to spend $3000 or so on a trip before moving. Look at what their visa requirements are for a business owner... self-employed etc... ...and what their immigration requirements are...
Personally, I wouldn't move anywhere without at least checking the place out first.
You can also try the U.S. but as far as getting a financial job you can forget it... there are lots of prop firms looking for traders so you won't have a problem there but I don't know if they'll be willing to get you in on a H-1B work visa (you require a degree for that) or on B-1/B-2 visas... I've never had to apply for any of them so I don't know how the process works.
Personally, I wouldn't move anywhere without at least checking the place out first.
You can also try the U.S. but as far as getting a financial job you can forget it... there are lots of prop firms looking for traders so you won't have a problem there but I don't know if they'll be willing to get you in on a H-1B work visa (you require a degree for that) or on B-1/B-2 visas... I've never had to apply for any of them so I don't know how the process works.
OP,
I understand where you are coming from. My family moved to US from Syria for similar concerns. I think you should leave the US open as a choice. You can find a broker-dealer prop firm that can get you sponsorship (it might not be cheap considering the political climate nowadays for foreign workers). As a US resident, you can also access european markets without the same regulatory burdens that traders in europe have to face. Just a thought.
I understand where you are coming from. My family moved to US from Syria for similar concerns. I think you should leave the US open as a choice. You can find a broker-dealer prop firm that can get you sponsorship (it might not be cheap considering the political climate nowadays for foreign workers). As a US resident, you can also access european markets without the same regulatory burdens that traders in europe have to face. Just a thought.