Pakistan Origin Card (POC) is one of the many facilities that the Government of Pakistan has extended over a period of years to the Overseas Pakistanis. The POC eliminates all previous
hassles, which the Overseas Pakistanis faced in their visit to their homeland. The key features are :
During the validity of the card, which shall be 5 years, every card holder : Shall have the right to enter into Pakistan without a visa from the approved routes / ports.
Shall have permission to stay indefinitely in Pakistan. Shall during his stay in Pakistan, be exempt as a foreigner from reporting to, or registering with any law enforcing
agency to whom or with whom such report or registration is otherwise required under any law of Pakistan. May open bank accounts anywhere in Pakistan and transact business therein. May enter into transactions of purchase and sale of movable or immovable property anywhere in Pakistan with full
rights to deal with and dispose of such property, and May use the card for establishing and proving his identity anywhere in Pakistan where a NIC is required for the purpose. For Further Details Please Visit NADRA
Speedy Home Remittance Bank instructed for speedy delivery of home remittances: In recognition of the importance of the remittances by OPs to the economy of Pakistan, bonafide remittances made through the normal banking channel by Overseas Pakistanis will not be subjected to any kind of taxes. This will enable the OPs to remit money freely for consumption, investment or any purpose to their families in Pakistan without harassment of tax authorities. No question will be asked for source of investment. The salary / income of Pakistani seafarers working on foreign vessels remitted to Pakistan through normal banking channels is being exempted from levy of income tax. OPs remitting US$ 2500 per annum will be entitled to avail facility of : Special Immigration & Customs counters at all International Airports in Pakistan on arrival departure. Free renewal of passport on urgent basis.
Special duty free allowance of US$ 450 raised to $ 700.
OPs remitting minimum of US$ 10,000 per annum will be entitled to the following benefits : Reservation of special seats for OPs children in all the public sector professional
colleges and universities on merit. An allocation of up to 25% for in IPOs to be subscribed in foreign currency. Ballot of choice plots in public housing schemes at attractive prices if paid in foreign currencies. Discount in the auctions of (CIRC) sick units where payment is made in foreign currency. special allocation of shares in Privatization. Special duty free allowance of US$ 700 raised to $ 1200.
One video camera, mobile phone and cassette player, CD player allowed in duty free allowance.
Modalities for the above incentives will be put in place shortly through Pakistani Missions abroad.
Pension Scheme: The Overseas Pakistanis Foundation (OPF) has introduced a self-contributory pension scheme to cover old age, death and disability. The salient features of the Pension scheme are as follows :
Scheme launched w.e.f. 01-07-2001. Each migrant has an option to decide how much he / she wants to contribute. Minimum contribution has been fixed at Rs.24,000/- per annum payable in US$ (approximately US$ 384) for ten years. Financial impact for the subscriber would be Rs.2,000/- per month (equivalent to US$ 32 approximately) and the subscriber will receive Rs.4,000/- per month for life. If Overseas Pakistani returns home permanently before the completion of ten years, he / she will be allowed to pay
remaining annual contribution in Pak. Rupees. A pension plan with lump sum contribution, maturing after 5 years is also offered.
Housing Scheme: Allotment to about 8,000 Overseas Pakistanis in the OPF housing schemes located in various cities. Pakistan Housing Authority (PHA) is planning to construct flats of various sizes at 18 locations in Karachi, Lahore, Islamabad and Peshawar, which are open for sale to
Overseas Pakistanis. Details can be obtained from the PHA Web-site www.pha.gov.pk
Protection to Foreign Investment Foreign Private Investment (Promotion & Protection) Act 1976 provides protection to : Foreign capital / investment made by foreigner in an industrial undertaking. Imported machinery & equipment. Repatriation of Investment and profit allowed. Tax concessions on the basis of agreement for avoidance of double taxation. Equal treatment of industrial undertaking having local / foreign private investment. An Ordinance for protection of foreign currency accounts being promulgated to eliminate any future possibility of
seizure / freezing of foreign currency accounts.
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