Pakistan Offers Permanent Residency on Property Investment
Pakistan has recently launched a new scheme in real estate where the foreigners investing in property will be given permanent resident status. This practice will be done keeping in mind the national security of Pakistan and must not breach National Security Policy.
This offer is only meant to attract wealthy foreign investors that are looking to invest in other countries. This is a step to enhance the foreign investment in Pakistan and this will boost the economy in the future.
Information Minister of Pakistan, Mr. Fawad Chaudhry, acknowledged the concern of national security and tweeted about it. He mentioned that this initiative will not harm the National Security Policy of the country.
Only the investors looking to invest fully in a property will qualify for this permanent residency. This is done to increase economic activity in Pakistan and the inflow of foreign investment in Pakistan.
This scheme is introduced to attract rich Afghan nationals as well who are otherwise approaching Malaysia, and Turkey to settle down. This offer is going to incentivize them to invest in Pakistan as this is close to their country and Pakistan can also benefit from their expertise.
This scheme is also going to target the Sikhs in Canada and USA who want to invest their money in their religious shrines. Sikhs can easily contribute their part in the construction of different projects if they have resident status in Pakistan.
It is the first time that any Pakistani government allowed to bring investors from abroad by offering them permanent residency. This will attract the rich class of the world and Pakistan can not only benefit from the investment but their expertise.
Overseas Pakistanis are also encouraged to invest in the real estate market of Pakistan. But now foreigners are also given an incentive to invest in the Pakistani market.
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