Can Overseas Pakistani Sell Property in Pakistan and Take Money Abroad?

[home!]

Can overseas Pakistani sell property in Pakistan and take money abroad through legal channels? Any member knows what are legal requirements or any link to website or SBP circular or any personal experience? Thanks

I searched websites everywhere the procedure is how to remit money to Pakistan but couldn't find the procedure to take money out from Pakistan

 

[CAPTAIN SOLO]

when I used to work in pakistan to make a simple payment of $46000 I had to take approval from Statebank. which took approximatly 2 months. that was a business transactions

If any one knows the proceadure for individuals let us know

 

[kayawish]

sell the land and ask the buyer to send money to your foreign bank account lo ... i dont know if this will work

 

[forzeb]

That Is impossible because we have our family home which needs to sell and bring money abroad but that's highly impossible as we tried everything now we are stuck as house is empty and can't even sell because Pakistani banks are not opening our account as we are counted as overseas Pakistanis and they only want us to send foreign currency to Pakistani banks.
Shame on all past and current Pakistani governments

 

[asifA1]

I also know how to send money back to Pakistan but not out of country, any help appreciated?

 

[Tit4Tat]

Can overseas Pakistani sell property in Pakistan and take money abroad through legal channels? Any member knows what are legal requirements or any link to website or SBP circular or any personal experience? Thanks

I searched websites everywhere the procedure is how to remit money to Pakistan but couldn't find the procedure to take money out from Pakistan

Either you will have to open a foreign currency account in Pakistan or you can ask buyer to send directly into your overseas account

 

[hkniazi]

That Is impossible because we have our family home which needs to sell and bring money abroad but that's highly impossible as we tried everything now we are stuck as house is empty and can't even sell because Pakistani banks are not opening our account as we are counted as overseas Pakistanis and they only want us to send foreign currency to Pakistani banks.
Shame on all past and current Pakistani governments

If you are speaking of Roshan Digital Account, than it won'T work.
For a normal current account, and if you are a POC holder you will have to visit Pakistan atleast once, which is not recommended under Corona Game going on.
Why don'T you ask the buyer in Pakistan to make you a Payorder. that way money will be reserved from a Bank in pakistan and you can submitt that to anyof your foreign bank account. though it will take time you will get the Rupees converted to the local currency.

 

[hkniazi]

For a current account in pakistan, biometrics are a must. And as biometrics are not required for RDA, thus you can'T deposit any money to a RDA account in Pakistan. This has been to facilitate the Overseas pakistanis who send money regurlarly back home but cant travel to Pakistan to open a bank account. Same time it is to hinder money laundering in Pakistan as "Kulfi wala zardari" and "jharoo pocha wali maasi mariyam" look for these loop holes in system

 

[MRT.abcd]

That Is impossible because we have our family home which needs to sell and bring money abroad but that's highly impossible as we tried everything now we are stuck as house is empty and can't even sell because Pakistani banks are not opening our account as we are counted as overseas Pakistanis and they only want us to send foreign currency to Pakistani banks.
Shame on all past and current Pakistani governments

They only like it when you send money to Pakistan. when you yourself go to Pakistan or send anything to yourself from Pakistan, then there is a problem. you will be investigated properly.
It's a one-way payment system. You can live in a small room or flat and the only purpose of being outside Pakistan is to send remittances to the Pakistani government and your relatives will ger local currency.

 

[BrotherKantu]

Either you will have to open a foreign currency account in Pakistan or you can ask buyer to send directly into your overseas account

I think in foreign currency account you only can take out money which you deposit from foreign countries.

.

 

[Salman Mughal]

back in a days you should have a foreign currency account in any bank in Pakistan so aap easily send ker saktay thay but now procedure is same but boht difficult ker dia hai aur aaj kal toh strictly mana he kia hua hai state bank ne

 

[Dawood Hassan]

It'll be difficult, especially now

this is why a lot of people use hundi

 

[forzeb]

If you are speaking of Roshan Digital Account, than it won'T work.
For a normal current account, and if you are a POC holder you will have to visit Pakistan atleast once, which is not recommended under Corona Game going on.
Why don'T you ask the buyer in Pakistan to make you a Payorder. that way money will be reserved from a Bank in pakistan and you can submitt that to anyof your foreign bank account. though it will take time you will get the Rupees converted to the local currency.

Thanks for the reply but I have tried all the options but Pakistani banks are not letting me transfer the money.

 

[forzeb]

For a current account in pakistan, biometrics are a must. And as biometrics are not required for RDA, thus you can'T deposit any money to a RDA account in Pakistan. This has been to facilitate the Overseas pakistanis who send money regurlarly back home but cant travel to Pakistan to open a bank account. Same time it is to hinder money laundering in Pakistan as "Kulfi wala zardari" and "jharoo pocha wali maasi mariyam" look for these loop holes in system

Answer is that all Pakistani governments need our sterling and dollars but if we have to sell our inheritance we can't take money out of the country. Shame on Pakistani governments

 

[home!]

Either you will have to open a foreign currency account in Pakistan or you can ask buyer to send directly into your overseas account

You can't take money out of Pakistan even if you have foreign currency account in Pakistan

 

[Tit4Tat]

You can't take money out of Pakistan even if you have foreign currency account in Pakistan

If you have an account, then you can transfer anywhere, but I think you need to be a filer

 

[forzeb]

If you have an account, then you can transfer anywhere, but I think you need to be a filer

How can we be a filer when we are living abroad for 20 years

 

[Tit4Tat]

How can we be a filer when we are living abroad for 20 years

I think you can and you must, you should check out Fbr website
Even if you live ana earn abroad, you can declare your income here

 

[forzeb]

I think you can and you must, you should check out Fbr website
Even if you live ana earn abroad, you can declare your income here

Well why should I declare in Pakistan when I am earning abroad an paying taxes here?

 

[Tit4Tat]

Well why should I declare in Pakistan when I am earning abroad an paying taxes here?

well because you hold Pakistani nationality, many countries have this rule