Does anyone know how to get money out of Pakistan after selling a plot there? I was always under the impression that there is no problem in doing that but recently a friend of mine brought this to my attention that it's a mess to send money out of Pakistan. Does anyone have an experience about that?
Appreciate experts help.
Dear Zubair,
Can you please advise which country would you like to send the money to? Plus how much roughly?
Tariq
Tariq sb. Thank you for the reply. Let’s say it’s US or Canada and the amount is in access of US $ 100,000.
Why can’t you do like wire transfer or something?
Large amounts like these will raise some alarm bells. So I advise you to consult an expert or a banker friend about this.
Legally not allowed to transfer more than usd 10K by handcarry.
Unless u have a foreign currency ac u couldnt trsf usd 100k outside..u can do through the money changer..but its illegal and risky
Thanks Tanzeel,useful informations,
just need clarification ,FC acc in Pakistan or the country of destination
Foreign currency account in Pakistan
@ Tanzeel is there an online version to that foreign currency account? Is there a way of doing it online? But sending small amounts?
Thanks Tanzeel. So if there is a foreign currency account in Pakistan, what will be the limit to transfer these funds?
In FC account one cannt deposit foreign currency in cash…it means u earn it outside/ receive it from outside…there is no restrictions on limit…u can send as much as balance u have in the account…all most every bank is offering FC acc in Paksitan and mostly providing online services.
You can deposit cash in your FC account in Pakistan, you can even withdraw FC cash from that account. However, sending a large amount like that will be flagged and money laundering or tax problems might arise because all foreign currency is routed through the State Bank.