{"id":61232,"date":"2020-02-10T16:55:15","date_gmt":"2020-02-10T11:55:15","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=61232"},"modified":"2020-02-10T16:55:16","modified_gmt":"2020-02-10T11:55:16","slug":"punjab-drafts-proposal-to-regulate-property-sale-purchase","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/punjab-drafts-proposal-to-regulate-property-sale-purchase.html","title":{"rendered":"Punjab drafts recommendations to regulate land use by foreign nationals"},"content":{"rendered":"\n<p>Lahore:\nThe authorities concerned have initiated work on the federal government\u2019s\nproposal for regulating the sale and purchase of property and business entities\ninvolving foreign nationals \u2014 according to news sources.<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/senate-allow-foreigners-purchase-property-pakistan.html\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"Senate for allowing foreigners to purchase property in Pakistan (opens in a new tab)\">Senate for allowing foreigners to purchase property in Pakistan<\/a><\/p>\n\n\n\n<p>The government has been analyzing ways to regulate and supervise the business activities of foreign companies and individuals in a bid to widen the tax net. The interior ministry reached out to the provinces and sought their input on the subject. The Punjab government has already prepared an initial draft of its proposal.<\/p>\n\n\n\n<p> <strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/property-professional-tax-evaders-tried-under-land-revenue-act.html\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"Property, professional tax defaulters to be tried under Land Revenue Act (opens in a new tab)\">Property, professional tax defaulters to be tried under Land Revenue Act<\/a><\/p>\n\n\n\n<p>As per the information available, the provincial government has proposed that instead of giving ownerships of land, foreign nationals should be given <a href=\"https:\/\/www.zameen.com\/news\/balochistan-government-to-formulate-land-lease-policy-for-foreign-investors.html\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"property leases (opens in a new tab)\">property leases<\/a> for a specified time. The proposal also suggests for the government to adopt separate land leasing policies for commercial, residential, industrial and agricultural land to identify the foreign nationals\u2019 property possession status. It is also recommended that all foreign nationals should undergo security clearance before any land is leased to them.<\/p>\n\n\n\n<p>The\ninterior ministry has directed the provincial bodies to submit their proposals\nbefore February 15, so that a formal regularization process is formulated.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Lahore: The authorities concerned have initiated work on the federal government\u2019s proposal for regulating the sale and purchase of property and business entities involving foreign nationals \u2014 according to news sources. Read: Senate for allowing foreigners to purchase property in Pakistan The government has been analyzing ways to regulate and supervise the business activities of foreign companies and individuals in a bid to widen the tax net. The interior ministry reached out to the provinces and sought their input on the subject. The Punjab government has already prepared an initial draft of its proposal. Read: Property, professional tax defaulters to be tried under Land Revenue Act As per the information available, the provincial government has proposed that instead of giving ownerships of land, foreign nationals should be given property leases for a specified time. The proposal also suggests for the government to adopt separate land leasing policies for commercial, residential, industrial and agricultural land to identify the foreign nationals\u2019 property possession status. It is also recommended that all foreign nationals should undergo security clearance before any land is leased to them. The interior ministry has directed the provincial bodies to submit their proposals before February 15, so that a formal&hellip;<\/p>\n","protected":false},"author":75,"featured_media":60804,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15015],"tags":[18753,4841,8328,18754,18759,15133,18755],"persona":[],"class_list":{"0":"post-61232","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-legal-taxation","8":"tag-details-on-punjab-drafts-recommendations-to-regulate-land-use-by-foreign-nationals","9":"tag-foreigners","10":"tag-government-of-pakistan","11":"tag-property-purchase","12":"tag-property-sale-and-purchase","13":"tag-punjab-govt","14":"tag-real-estate-buying-and-selling","15":"cat-15015-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Punjab drafts proposal to regulate property sale\/ purchase - Zameen News<\/title>\n<meta name=\"description\" content=\"The authorities have initiated work on federal government\u2019s proposal for regulating property sale and purchase and business entities involving foreigners\" \/>\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\/punjab-drafts-proposal-to-regulate-property-sale-purchase.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Punjab drafts proposal to regulate property sale\/ purchase - Zameen News\" \/>\n<meta property=\"og:description\" content=\"The authorities have initiated work on federal government\u2019s proposal for regulating property sale and purchase and business entities involving foreigners\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/punjab-drafts-proposal-to-regulate-property-sale-purchase.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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