If you are living abroad you probably think about investing in property back home a lot. Your family might always be talking about it. You might have seen that property prices in Lahore are going up and up while the money in your bank account is not earning much. You might have heard of RUDA, which’s the Ravi Urban Development Authority and you want to know if you can really invest in it from where you live.
The truth is, you can invest in property in Pakistan. Pakistanis living in countries like the UK, UAE, Saudi Arabia, USA, Canada or anywhere else have the right to buy property in Pakistan.. Projects by RUDA, like Chahar Bagh, Sapphire Bay and Ravi City are available to people living outside of Pakistan. You can buy property in these projects by following some steps which’re not as hard as people think.
This guide will tell you how to do it. It will explain the rights you have as a living abroad, how to send money, what documents you need and how to make sure you are working with the right people even if you are very far away from Pakistan.
Do Overseas Pakistanis Have the Legal Right to Buy Property in Pakistan?
Yes, completely. Pakistani citizens who live in countries still have full rights to own property in Pakistan no matter where they live. This is true if you only have a passport or if you have two nationalities, like Pakistani and British or Pakistani and American or Pakistani and a residence in the UAE and so on.
The State Bank of Pakistan and the Federal Board of Revenue have made it clear how Pakistani citizens living abroad can buy property in Pakistan. The rules are in place for Non-Resident Pakistanis who want to invest in property homes. You do not have to worry about doing something that is not allowed. Pakistani citizens living abroad have the right to own property as Pakistani citizens who live in Pakistan.
The main difference for people who buy property from outside Pakistan is the way they do things. This includes how you send money to Pakistan, how you confirm that your documents are real from a distance and who you choose to represent you in Pakistan when you are not there. All of these things can be. We will explain each step in this guide.
Why RUDA Is Particularly Well-Suited for Overseas Investors:
One of the worries that overseas Pakistanis have when they think about buying property back in Pakistan is trust. They do not trust the country or the market. They do not trust the specific person or company they are giving their money to. When you are living in another country you cannot just. See the site on a Saturday morning to make sure everything is going okay. You have to trust the papers and the people you are working with. You have to trust the laws that are supposed to protect your money.
This is where the Ravi Urban Development Authority or RUDA is different. RUDA is a part of the Punjab Government so it is not like companies that might make promises they cannot keep. When you put your money into a RUDA project, like Chahar Bagh, Chahar Bagh Enclave, Sapphire Bay or Ravi City you know that the Punjab Government is backing it up. The people in charge have to tell the public what is going on and when things will be done. The prices are clear. Everyone can see them. There are no fees and no one is taking extra money from you.
For someone who lives in another country and cannot always be there to check on things it is very good to know that RUDA is in charge. It makes a difference when you can trust a system instead of just trusting what someone says. Overseas Pakistanis can trust RUDA because RUDA is a part of the Punjab Government. RUDA projects, like Chahar Bagh, Chahar Bagh Enclave, Sapphire Bay or Ravi City are safe because they have the support of the Punjab Government.
How to Send Money from Abroad to Buy a Plot in Pakistan The Right Way:
This is the part that confuses people who buy things from other countries and it is worth getting right. The way you send money can affect the taxes you pay and your ability to keep a record of the transaction properly.
The State Bank of Pakistan has made it a lot easier for people from Pakistan who live in countries to buy property. They can do this through two ways:
Roshan Digital Account (RDA)
The Roshan Digital Account is a bank account for people living outside of Pakistan. It is offered by the State Bank. Can be opened remotely with banks like HBL, MCB, UBL, Meezan Bank and others. You do not need to visit Pakistan to open one.
Once your account is active you can transfer money from abroad into it. Then you can use that money to buy property in Pakistan.
The Roshan Digital Account has an advantage when buying property. It keeps a record of where the money comes from. This is good for you because it protects you legally. It is also good for tax reasons. It shows that your investment comes from money sent from abroad. This is important because there are tax benefits for Pakistanis under the current FBR rules. The Roshan Digital Account helps you use those benefits.
The Roshan Digital Account makes it easy to invest in property in Pakistan from abroad.The Roshan Digital Account is a tool for overseas Pakistanis.
Direct bank transfer (TT / wire transfer)
You can transfer money from your bank in another country to a bank in Pakistan. This can be to your account in Pakistan or to the account that ARK Group uses for people who want to buy plots of land. If you do this you should always send the money from an account with your name on it. You should also keep all of the papers that show the money was sent.
This is important because it helps you if someone asks where the money came from.
* You should not send cash to someone you do not know.
* You should not use people who will take your money to someone in another country.
What you should not do is send money for a house or land through people who’re not banks. This is not an idea for a big purchase like a house. It does not leave a record of what happened so you will not have any protection if something goes wrong. It also makes everything more complicated, after that.
The Step-by-Step Process for Buying a RUDA Plot from Abroad:
Here is how the process usually works for a Pakistani who wants to buy a RUDA plot through ARK Group.
1. Initial consultation (remote):
The first step is to have a conversation with ARK Group. You can do this by phone, WhatsApp or email. You talk about which RUDA project’s best for you, your budget, the size of the plot you want and the payment plan. This conversation happens remotely so you can do it at a time that works for you no matter where you are in the world. The team at ARK Group in Lahore is used to working with people who live outside of Pakistan so you do not have to make any decisions away.
2. Select your project and plot:
Next you pick the project and plot you want. Once you have decided on a project, like Chahar Bagh, Sapphire Bay, Ravi City or another RUDA scheme ARK Group will give you all the information from RUDA. This includes the price, the plots that’re available, the schedule for payments and all the documents you need to look at. You can look at all of this information on your own at your pace.
3. Grant Power of Attorney (if needed):
If you need to you can give someone the power to act for you. If you cannot be in Pakistan to sign papers in person you can give a family member or ARK Group the power to act for you. This is done with a document called a Power of Attorney. You need to get this document signed in front of a notary in your country and then get it approved by the Pakistani Embassy or High Commission near you. The team at ARK Group can help you with what the document needs to say.
4. Send the booking payment:
Then you send the payment to book your plot. You can do this by transferring the money from your Roshan Digital Account or by direct bank transfer. ARK Group will give you all the details you need to make the payment.. You should never send money based on instructions you get on WhatsApp or in a casual message. Always check the payment details with ARK Group by phone before you send any money.
5. Receive your official documentation:
After that you get your documents. Once your booking is confirmed you will get your official RUDA booking confirmation and allotment documents. You can get these documents digitally so you have a record of them. The originals will be kept safely or sent to you by courier.
6. Stay updated remotely:
Finally you can stay updated on what’s happening with your investment. ARK Group will keep you informed about how the project’s progressing. You do not have to be in Pakistan to know what is going on with your RUDA plot. You can always reach ARK Group by phone, WhatsApp or email no matter what is happening with your investment.
Documents You Will Need as an Overseas Buyer:
Buying property in Pakistan is pretty easy for people from Pakistan who live in countries. To do this you will usually need things.
* Your Pakistani CNIC, which is a card that says who you are. If your CNIC is old and not valid anymore you should make it valid again at the NADRA office that helps people from other countries before you start.
* Your NICOP, which is like the CNIC. For people from Pakistan who live in other countries. This card is given by NADRA. If you do not have one you can easily ask for it at the Pakistani Embassy or a big office that helps people from Pakistan.
* Something that shows where you live in your country like a bill for electricity or a statement from your bank.
* Something that shows where your money is coming from, like a paper that says money was sent from your bank in another country or a record from your Roshan Digital Account.
* A special paper that says someone can sign for you. You only need this if you cannot go to Pakistan to sign papers yourself.
The team at ARK Group will help you figure out what papers you need and when you need them. They will guide you through the process so you are not confused about what to do next.
What About Tax Are There Benefits for Overseas Pakistani Investors?
Yes. This is one thing about overseas Pakistani property investment that people do not appreciate enough.When overseas Pakistanis buy property using money they sent from another country through a bank they get a deal on taxes than people who live in Pakistan and do not file taxes.
In some cases the tax that overseas Pakistani buyers have to pay when they use this money is a lot less than what a local person would pay for the thing.
This is why it is an idea to use official ways to pay, like the Roshan Digital Account or a direct bank transfer.The way you pay for something can affect how tax you have to pay.Tax rules can change. It depends on your situation and what the rules are at the time you buy something.
You should always check with the consultants at ARK Group to make sure you have the information before you buy something. They will make sure you know what you need to know about overseas Pakistani property investment and the taxes on it.
How to Protect Yourself When Buying from Abroad:
The biggest risk for buyers is not RUDA itself. It is the people in between. These are individuals who operate online and through communities of people from the country who live in other countries and they say they are property agents for projects in Lahore. They take money for booking properties. Then they disappear. This is very bad for Pakistanis because they are targeted by people who commit property fraud more than people who buy properties in their own country. This happens because it is harder to check things when you’re far away.
There are things that will keep you safe.
* You should only work with the RUDA Sales Partner. The ARK Group of Companies is the official and registered RUDA Sales Partner. You can check this with RUDA directly. Never give money to any agent who says they sell RUDA plots if they cannot show you that they are officially allowed to do
* You should check all payment details by phone before you send any money. You can call the ARK Group office on +92 333 699 9944. Confirm the account details by talking to them before you send any money.
* You should get everything in writing. This includes your booking confirmation, your plot details and your payment schedule. All of these things should be on RUDA papers, not just a picture, from WhatsApp.
* If you can, you should ask a family member you trust who lives in Lahore to visit the ARK Group office in person at least one time during the process. It is very helpful to meet the people you are working with face to face even if it is one time. RUDA and the people who work with RUDA are the ones you should be working with to buy RUDA plots.
Ready to Start? Here Is What to Do Next:
Investing in RUDA from another country is really possible. For Pakistanis who live in other countries RUDA is one of the best investment options they have right now. The Ravi Riverfront corridor is where you will find Chahar Bagh, Sapphire Bay and Ravi City. This area is still in the stages so it has a lot of room to grow.
The process of investing in RUDA does need some work on your part. You have to get your NICOP in order to set up a bank account and get a Power of Attorney if you need one.. It is not hard to do when you have the right people to help you.
You can. Send a message to ARK Group on +92 333 699 9944. Tell them where you are, how money you have to invest and what you want to achieve. ARK Group works with Pakistanis who live in countries all the time so they know how to make the process easy, for you no matter where you are calling from.
Frequently Asked Questions:
Can overseas Pakistanis buy property in Pakistan without coming back?
Yes they can. Overseas Pakistanis can buy property in Pakistan through a Power of Attorney. They give this Power of Attorney to a trusted family member or agent.This way they do not need to be in Pakistan to buy property.The Power of Attorney needs to be signed in front of a notary.It also needs to be attested by the Pakistani Embassy or High Commission.This Embassy or High Commission should be, in the country where the Pakistani lives.
What is a NICOP and do I need one to buy property in Pakistan ?
NICOP is a card that proves who you are if you are living outside of Pakistan.It is also called the National Identity Card for Overseas Pakistanis.NADRA gives it to you.
* A NICOP card works like a CNIC card but, for people living abroad.
You can still use your CNIC card if it has not expired.However getting a card is a good idea.It makes doing things like banking and buying property much easier for Pakistanis living.If you want to get a card you can apply through the Pakistani Embassy or High Commission in your country.They will guide you through the process.You need to do it through them because they’re the ones who can verify who you are.They will help you fill out the application and submit it to NADRA.Then you will get your card in the mail.It is a process but it can take some time.So if you are a living abroad think about getting a NICOP card.It will make your life much easier.
What is the Roshan Digital Account and should I use it to buy RUDA property?
The Roshan Digital Account is a kind of bank account that the State Bank of Pakistan made for people from Pakistan who live in other countries. You can open this account from away through some big banks in Pakistan. The Roshan Digital Account lets you send money from countries to Pakistan and pay for things like houses. When you use the Roshan Digital Account to buy something from RUDA it makes a record of the money you sent from another country. This is good for protecting you and it can also help you with taxes under the rules of the FBR for people from Pakistan who live in other countries. The Roshan Digital Account is really useful, for Pakistanis who want to buy property in Pakistan.
Is RUDA accessible to Pakistani nationals with dual citizenship?
People from Pakistan who have two passports can still own property in Pakistan. If you have a passport and a British passport or a Pakistani passport and an American passport you can buy property in Pakistan. You can buy RUDA plots and other property in Pakistan without any problems. Pakistani nationals with two passports have the rights, as anyone else when it comes to owning property in Pakistan.
How do I know ARK Group is the legitimate RUDA Sales Partner and not a fraudulent agent?
ARK Group of Companies is the official RUDA Sales Partner. You can check this with RUDA directly.They have an office in Lahore.ARK Group has been in Pakistan’s real estate market, for 45 years.You can call their team on +92 333 699 9944.Always check if an agent is really working with RUDA before buying any RUDA projects.