Lahore Real Estate Forum

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Monday, December 15, 2025 06:27 AM
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   NON-Filer
Sunday, October 7, 2018 01:14 AM PST 
Reply: >
whats the new rule
within 60 days????????????? some time it takes 2/3 years for overseas to consolidate the required amount for any plot or house??? what a government????? salam
Asif replied on Sunday, October 7, 2018 03:44 AM PST 

They think overseas are printing money, so please improve your speed to print the money to have a property within two months. lol. kon musheer hai yar.
Investor replied on Sunday, October 7, 2018 06:30 AM PST 

Finance minister is planning to take more loans from imf nxt month. Which means ruppee will further depreciate. Today dollar is at 128 and experts say it will reach at 140. Not all of sudden but slowly. My point is kisi overseas pakistani Ka dimagh kharab ho ga k wo pakistan main investment kray ga as ruppee is going down and dollar is going up.
OVERSEAS replied on Sunday, October 7, 2018 12:13 PM PST 

Kehtey hey agar plot ya house lena hay to pesey 60 din me aney chahiye. Ye hal hey policy makers ka.
Suprisingly they do not want to facilitate the overseas Pakistani as the 60 days rule simply compelling the overseas to retain all his saving abroad over the year till the time he saved the required amount for sending in one go.

I think many new rules and amendment are following in due course as a result of recent rules which is going to prevent oveseas to think about sending remitance.
bilals replied on Sunday, October 7, 2018 02:06 PM PST 

government government khel rahay hain bhai. lagta hai 5 saal 1 qadam aagay, 2 qadam peeche hi chale ga
Ahmad replied on Sunday, October 7, 2018 04:31 PM PST 

It is difficult for overseas Pakistanis to declare property in Pakistan. That's why many overseas Pakistanis send money to Pakistan in chunks before buying a property. This is because Pakistani government does not have agreements with foreign countries on avoiding 'double taxes'. For example, if i live in Germany and buy a property in UK, i will not be double taxed.
Overseas Query replied on Sunday, October 7, 2018 06:09 PM PST 

Is their a change in rule for buying property for overseas. Can someone elaborate
OVERSEAS replied on Sunday, October 7, 2018 06:38 PM PST 

Asad Umar’s Mini Budget & Pakistan Real Estate Sector related Amendments (For both local and overseas Pakistanis)

EXEMPTIONS:

#1- Overseas Pakistanis don’t need to be FILERS to buy properties in Pakistan for living purpose. But they have to be FILERS to invest in Pakistan real estate sector for business purpose.
#2- NON-FILERS can inherit property from suppose or parents.

RESTRICTIONS:

#1- Overseas Pakistanis have to produce a certificate from the bank to;
A- Prove that money was remitted through proper banking channel
B- Prove that money was sent from abroad just 60 days prior to property registration or transfer
#2- Local Pakistanis who are NON-FILERS can’t buy property worth PKR 4 Millions or more.

PENALTY:

If any registering authority of excise and taxation department accepts, processes or registers an application of NON-FILERS for the registration of an immovable property, such person shall pay a penalty of 3% of the value of the property.

BLACK MONEY INVESTMENT IN PROPERTY SECTOR ARRESTED BY NEW LAWS

1- NON Filers can’t purchase property worth more than 4 Million PKR.
2- No authority will transfer property for non-filers as the person/authority will have to pay penalty equal to 3% price of property.
Ahmed khan replied on Sunday, October 7, 2018 10:06 PM PST 

Just a one liner, like the previous government they are hell bent to destroy the property market
MBS® replied on Monday, October 8, 2018 01:16 PM PST 

there's no harm in paying tax especially the overseas buyers are hardly affected. you have to pay capital gain tax only if you're selling the properties within three years of purchase. if you sell them after 3 years of purchase, you don't have to pay any tax. correct me if am wrong?

The problem is this government does not seem to have a grasp of affairs, they go in one direction and make a U turn next day.
Tax or no tax, decide it based on a proper planning not on impulsive gigs to cheer the crowd.

Unless investors see some sanity and maturity in this government, no one's going to trust in their policies. As of now, government looks totally confused on what to do?
Nabeel® replied on Monday, October 8, 2018 01:20 PM PST 

Pay PKR 5,000 annually and become filer, and get PRCs. Safe for life.

Rules will keep changing.
Ali replied on Monday, October 8, 2018 02:54 PM PST 

@Nabeel

What a good piece of advice ;-)
OVERSEAS replied on Monday, October 8, 2018 10:38 PM PST 

As per F.minister Overseas are exempted to be a filer, prior to that IK asked tge overseas fir remitance , moreover oveaseas income is tax free. On the other end they are ready to take withholding tax on bank transections.

What a Government........ Salam Government !
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