{"id":52862,"date":"2019-06-21T18:03:01","date_gmt":"2019-06-21T13:03:01","guid":{"rendered":"https:\/\/www.zameen.com\/blog\/?p=52862"},"modified":"2020-08-28T13:47:10","modified_gmt":"2020-08-28T08:47:10","slug":"sbp-notifies-procedure-for-repatriation-of-offshore-assets","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/sbp-notifies-procedure-for-repatriation-of-offshore-assets.html","title":{"rendered":"SBP notifies procedure for repatriation of offshore assets"},"content":{"rendered":"<p>Karachi: The State Bank of Pakistan (SBP) notified the procedure for repatriation of foreign assets held in the form of shares of companies incorporated in Pakistan under the Assets Declaration Rules 2019 on Thursday \u2013 a news source reported.<\/p>\n<p><strong>Read<\/strong>:\u00a0<a href=\"https:\/\/www.zameen.com\/news\/switzerland-to-share-details-of-pakistanis-with-offshore-assets.html\">Switzerland to share details of Pakistanis with offshore assets<\/a><\/p>\n<p>According to the circular issued by the central bank, SBP will allow the repatriation of such shares held by the declarant held on repatriable basis under clause 4(6) of the Asset Declaration Rules 2019.<\/p>\n<p>SBP also issued the procedure for the conversion of these shares from repatriable basis to non-repatriable basis.<\/p>\n<p><strong>Read<\/strong>:\u00a0<a href=\"https:\/\/www.zameen.com\/news\/govt-seeks-info-on-pakistanis-holding-assets-in-russia-turkey.html\">Govt seeks info on Pakistanis holding assets in Russia, Turkey<\/a><\/p>\n<p>\u201cThe owner of shares (the person in whose name the shares are registered with SBP) will submit their application, duly forwarded by the respective company (the company whose shares are held by the non-resident on repatriable basis) through the AD (bank), to SBP for cancellation of registration of shares,\u201d read the State Bank\u2019s circular.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Karachi: The State Bank of Pakistan (SBP) notified the procedure for repatriation of foreign assets held in the form of shares of companies incorporated in Pakistan under the Assets Declaration Rules 2019 on Thursday \u2013 a news source reported. Read:\u00a0Switzerland to share details of Pakistanis with offshore assets According to the circular issued by the central bank, SBP will allow the repatriation of such shares held by the declarant held on repatriable basis under clause 4(6) of the Asset Declaration Rules 2019. SBP also issued the procedure for the conversion of these shares from repatriable basis to non-repatriable basis. Read:\u00a0Govt seeks info on Pakistanis holding assets in Russia, Turkey \u201cThe owner of shares (the person in whose name the shares are registered with SBP) will submit their application, duly forwarded by the respective company (the company whose shares are held by the non-resident on repatriable basis) through the AD (bank), to SBP for cancellation of registration of shares,\u201d read the State Bank\u2019s circular.<\/p>\n","protected":false},"author":67,"featured_media":23688,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15015],"tags":[11962],"persona":[],"class_list":["post-52862","post","type-post","status-publish","format-standard","has-post-thumbnail","category-legal-taxation","tag-sbp-notifies-procedure-for-repatriation-of-offshore-assets","cat-15015-id"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>SBP notifies procedure for repatriation of offshore assets - Zameen News<\/title>\n<meta name=\"description\" content=\"Karachi: The State Bank of Pakistan (SBP) notified the procedure for repatriation of foreign assets held in the form of shares of companies incorporated\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/sbp-notifies-procedure-for-repatriation-of-offshore-assets.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SBP notifies procedure for repatriation of offshore assets - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Karachi: The State Bank of Pakistan (SBP) notified the procedure for repatriation of foreign assets held in the form of shares of companies incorporated\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/sbp-notifies-procedure-for-repatriation-of-offshore-assets.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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