Islamabad: The State Bank of Pakistan (SBP) on Thursday notified the introduction of a separate account category called the ‘NRP Rupee Value Account’ (NRVA) for overseas Pakistanis who seek to invest in their home country, a news source reported.
This overseas Pakistanis account category will allow expats as well as resident Pakistanis with assets in different countries to make investments in government bonds issued in foreign currencies. The account will also allow investments in residential and commercial real estate, Pakistan Stock Exchange, and term/remunerative deposit products by commercial banks on a repatriable basis.
Overseas Pakistanis can open and operate the NRVA via digital channels with the required documentation. Foreigners (excluding those with work visa or permit to work in Pakistan), along with companies incorporated or registered outside the country will also be able to use the NRVAs.
The SBP has allowed banks in the country to provide several facilities to NRVA holders. This includes the permission of a minimum three-year investment period in real estate. For further inquiries on the facilities available, applicants can consult their banks.