ISLAMABAD: The Federal Investigation Agency (FIA) has launched a sweeping investigation into Pakistani residents holding UAE Golden Visas based on real estate investments of AED 2 million or more, yet failing to declare these assets under Pakistani tax laws.
Thousands of individuals are now under scrutiny for possible tax evasion and violations of anti-money laundering regulations.
The 10-year Golden Visas, issued under the “Property Owner” category, contain vital identifiers such as passport numbers and “Self Sponsor” status, making it easier for Pakistani authorities to trace the investors.
Tax officials are actively cross-checking this information with wealth statements submitted to the Federal Board of Revenue (FBR).
Unreported Assets and Unpaid Taxes
Authorities revealed that a large number of resident Pakistanis with UAE properties have not declared the assets, rental income, or capital gains in their tax returns.
In most cases, Capital Value Tax (CVT) on foreign property has also gone unpaid, triggering red flags within the compliance system.
Pakistan and the UAE do have a tax treaty that includes provisions for information exchange, but the UAE has not shared banking or investment data directly.
This lack of cooperation has made enforcement challenging.
Funding via Informal Channels Complicates Tracking
Another concern is that many individuals reportedly funded their UAE investments through informal remittance channels.
To further avoid detection, bank accounts were often opened using UAE residence permits rather than Pakistani passports, bypassing the Automatic Exchange of Information (AEOI) mechanisms.
Authorities are now seeking legal routes and diplomatic engagement to obtain financial disclosures and ensure compliance.
The crackdown is part of a broader effort to bring transparency to offshore investments and recover untaxed assets.
