Govt to Approve Long Term Residency Policy for Foreign Investors

The Federal Cabinet is likely to approve a policy for the grant of long-term residency to foreign investors. Sources said that a meeting of the cabinet will be held on Tuesday under the chair of Prime Minister Shahbaz Sharif, and the Board of Investment will present the summary with regard to policy for the grant of long-term residency to foreign investors. Sources said that the purpose of granting long-term residency to foreigners is to bring investments to the country. The previous government in January this year also announced a permanent residency scheme for foreign nationals and linked it with their investment in the real estate sector. Sources said that the government also wanted to attract investments from UAE, Qatar, and Saudi Arabia, therefore, it is offering residency, especially to investors hailing from these countries.