Yes, you can buy property in Pakistan if you have a POC. This card gives you the rights of a Pakistani citizen, including the right to buy property. But you may have to follow certain rules and procedures. Like getting a National Tax Number (NTN) and filing tax returns. You should talk to a lawyer or a real estate agent in Pakistan. To make sure you are taking all the right steps and doing everything the right way.
When buying property in Pakistan with a POC card. There are a few other things to keep in mind besides the requirements I already listed.
Proof Of Citizenship
First, you will have to show proof that you are a Pakistani citizen or come from Pakistan. This can include your POC card and other documents like your birth certificate, passport, or NICOP (National Identity Card for Overseas Pakistanis).
Second, you’ll need to make sure that the property is registered legally. And doesn’t have any legal disputes or problems. This can be done by looking at the property’s title deeds. Getting a no-objection certificate (NOC) from the local authorities, and doing a thorough property search.
Pay The Taxes
Lastly, you will have to pay the taxes and fees that go along with buying a home in Pakistan. Stamp duty, registration fees, and capital gains tax may be among these.
Overall, buying property in Pakistan with a POC card can be a complicated process. It is important to work with qualified professionals. They can help you through the process and make sure you are following all relevant laws and rules.
Buying property in Pakistan can be hard and complicated, especially for Pakistanis who don’t live there. But the good news is that a POC can be used to buy property in Pakistan. In this article, we’ll give you all the information and advice you need to use your POC card to buy property in Pakistan.
What’s a POC Card?
Foreigners with Pakistani roots can get a smart card called a Pakistan Origin Card (POC). It’s a type of ID card given to people who have ever been Pakistani citizens. Or the spouse, child, or grandchild of a Pakistani citizen. The POC card is good for life, and the person who has it doesn’t need a visa to stay in Pakistan for as long as they want.
Benefits of Having a POC Card
Those who want to buy property in Pakistan and have a POC card can do a lot of things with it. First and foremost, it makes it easier and more straightforward to buy property in Pakistan. With a POC card, you can apply for a National Tax Number (NTN) and open a bank account in Pakistan, which are both necessary steps for buying property in Pakistan. The cardholder is also entitled to a number of other benefits. Such as being able to buy and register a car in Pakistan and investing in Pakistani stocks, mutual funds, and bank deposits.
Steps to Buy Property in Pakistan with a POC Card
If you are a non-resident Pakistani with a POC card. If and want to invest in property in Pakistan, you need to do the following:
Find the property you want to buy
The first thing you need to do is find the property you want to buy. It’s important to do a lot of research and choose a property that fits your preferences and budget.
Contact a reliable real estate agent
Contact a reliable real estate agent: The real estate agent should have a good name and know everything there is to know about the local real estate market.
Verify the property’s documentation
Check the property’s paperwork: Before moving forward with the purchase, it is very important to check the property’s paperwork to make sure it is real and free of any legal disputes or problems.
Pay the booking amount
Pay the booking amount. Once you are happy with the property and the paperwork, pay the booking amount to the seller to secure the property.
Get an NTN number
Get an NTN number: After paying the booking fee, you need to ask the Federal Board of Revenue for a National Tax Number (NTN) (FBR). This is needed to finish the process of changing who owns a piece of property.
Transfer the payment
The next step is to use a bank transfer or payment order to send the payment to the seller’s account.
Complete the transaction
After you’ve transferred the money, you need to sign the sale agreement and have it registered with the right authorities to finish the deal.
In the end, non-resident Pakistanis who want to invest in the country’s real estate market can buy property in Pakistan with a POC card. By following the steps in this article, you can make sure that the process of buying a home in Pakistan goes smoothly and without any problems. If you are a non-resident Pakistani and have a POC card, this is a great chance to invest in Pakistan’s booming real estate market.