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Mushtaq
( 1 post )

[34 Replies]
Hi..

There is limit of 5mln for non-filer to buy property, is this limit applicable for overseas pakistan as well as they are also non-filer.

    90 days ago In Buying Process
    Post Answer
    MUBASHIR
    (130 posts)
    I am overseas pakistani as well and i m a filer .
      90 days ago 

      A M Abbasi
      (206 posts)
      Yes this is for them however the process of becoming filer is very easy for the oversesas so you go to FBR website and check urself.
        89 days ago 

        ForYou
        (22 posts)
        Dear Mushtaq sb, As an overseas you dont have to be filler to buy property in Pakistan. Also there is no limit on price of buying property. You can buy property more than 5 million. Howevver, it is easy to become filler, as you dont need to do much and just said you are non-resident and declare nothing.



        The filler restriction is only for non-overseas people who wants to buy property more than 5 million only. Furthermore, if you are non-filer and non-overseas you can still buy property with DC rate below 5 million PKR.
          89 days ago 

          Malik
          (46 posts)
          I registered my self in 2007 and got NTN number but later i moved to abroad and since then i am settled in abroad . My question is can i buy land, vehicle as an overseas Pakistani on old NTN number or do i need to request fbr to modify my old NTN number ?
            88 days ago 

            ForYou
            (22 posts)
            Dear Malik Sb,

            If you have NTN (it does not matter when you got it) and you are filer (mean submitting tax return every year), then yes you can buy. NTN alone is not enough, you should be in the active tax payer list of FBR, and you can be in that list only by submitting your tax return every year. In my view everybody should do this as a responsible Pakistani.



            However for non-residents (continuously living outside Pakistan for more than six months) , which you can prove with NICOP or other documents you dont need to be filer or have NTN to buy any property. But you may have to pay non-filer taxes when you buy property or car etc.



            I hope it is clear for you.

            Best regards
              88 days ago 

              Overseas Pak..
              (6 posts)
              Thanks for the info.

              Where i can have the official version, i mean any notification issued by FBR or Ministry of finance in which they have notified that OP can buy the over 5 million property while he is a non filer.



              regards
                82 days ago 

                Isloo1
                (352 posts)
                For most definitive word on this, please read FBR's circular 06 of 2018 dated Oct 24 2018. Its section 3.(ii) on page 7 reads as follows:

                "(ii) The restriction on purchase/transfer of immovable property having value exceeding Rs. 5 million by non-filters shall not apply to legal heirs acquiring property through inheritance. Moreover, as in the case of purchase of motor-vehicles the condition of being a filer shall not apply in respect of persons holding a Pakistan origin card or a national identity card for overseas Pakistanis who are able to produce a certificate from a scheduled bank verifying receipt of foreign exchange remitted from outside Pakistan through normal banking channels during a period of sixty days prior to the date of registering, recording or attesting transfer of immovable property valuing above Rs. 5 million."

                So, in other words, it is not a totally free lunch for overseas Pakistanis.

                Here is link to the FBR Circular:
                http://download1.fbr.gov.pk/Docs/201810241410545507Circular06of2018.pdf
                  82 days ago 

                  ForYou
                  (22 posts)
                  Just an update, The money transfer period of sixty days has been change in the budget presented in January 2019. Now there is no limit on days however you still need to prove the money has been sent to Pakistan via legal way.
                    82 days ago 

                    Overseas Pak..
                    (6 posts)
                    Thank you very much for the info

                    What if an OP brings cash with him



                    Regards
                      81 days ago 

                      Iqbal
                      (2 posts)
                      Overseas Pakistani should always bring money through banking channels to show FBR trail of money. If you bring cash in you will have difficulty to prove money trail.
                        81 days ago 

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