The Government of Pakistan has unveiled a new scheme for foreign nationals through which they can get permanent residency in Pakistan. The country is a place of history, culture and tourism and is visited by tourists from across the world in admiration of the beauty it has to offer. With this new initiative, foreigners can now become permanent residents of the country and can enjoy the facilities offered here.
Permanent Residency In Pakistan
A permanent residency of any country means that a person has a legal certificate to live there. A permanent resident can live in that country without needing to get a visa or any additional document from the state.
Federal Minister for Information and Broadcasting Fawad Chaudhry has announced that permanent residency in Pakistan will be offered to foreign nationals who will invest in real estate. In light of the current progress of the real estate industry in Pakistan, this is an amazing opportunity for all foreigners to invest and become permanent residents and make significant gains.
The federal minister added the country has declared geo-economics as the core of its National Security Policy and will allow foreigners to acquire the status of permanent residence in Pakistan. In order for foreigners to apply for this PR scheme of the government, they need to make a minimum investment of USD 100,000 to USD 300,000 in the real estate sector of the country.
Who Will Benefit From PR Scheme In Pakistan
The PR scheme for foreigners in Pakistan is a replication of a model that was implemented in Turkey which allowed foreigners to buy property in the country. Through this PR scheme, foreigners can buy houses, land and hotels and, therefore, is rightly termed as the ‘game-changer’ initiative.
Among these foreigners, this PR scheme is an excellent opportunity for Afghans who have been seeking permanent residence in other countries for better stability. They can become permanent residents of Pakistan and live in a culture similar to theirs. In addition, since Pakistan is home to many gurudwaras, special provisions are being made to facilitate the Sikh community.
This is the first time any government has taken an initiative to invite foreign applications for permanent residency in Pakistan. This also incentivizes Chinese investors who want to set up industry and settle here. Billions of dollars in foreign investment are expected to be brought to the country through this scheme.
This was all you needed to know about the government’s latest take on permanent residency in Pakistan. Stay tuned to Zameen Blog for more information on this and other government initiatives. You can also subscribe to Zameen Newsletter for regular updates about the property sector of Pakistan. For suggestions and feedback, reach out to us at blog@zameen.com.
