PSEB Proposes State Bank to Allow Foreign Currency Accounts for Freelancers

Pakistan Software Export Board (PSEB) has proposed to the State Bank of Pakistan to permit foreign currency accounts like Roshan Digital for freelancers, enabling 100% foreign currency retention, and fast-track inward/outward remittances, sources informed ProPakistani. PSEB is a government organization established to promote and support the software export industry in Pakistan. As a part of its mission to help the growing community of Freelancers in Pakistan, PSEB has initiated several programs and initiatives to support freelancers and help them grow in their careers. The benefits being offered by PSEB are as follows: Pay Only 0.25% Tax on Export Proceeds of IT & IT-enabled Services. Avail free and subsidized training in the latest technologies and obtain relevant international certifications. State Life Insurance Corporation provides multiple life insurance and health insurance packages. Registered Freelancers can obtain visas to travel abroad for the purpose of attending international conferences, exhibitions, contests, and business-related meetings. Permitted by the State Bank of Pakistan to open a foreign currency account as well as a PKR account. Up to 35% of export remittance is permitted to be retained in a Foreign Currency Account. Attend free of cost relevant local events and workshops organized by PSEB. Get international credibility, enabling customers to easily verify their authenticity and credentials.   PSEB is negotiating with the banks to offer specialized banking products including: Special Foreign Currency Accounts: PSEB has proposed to the State Bank of Pakistan to permit foreign currency accounts like Roshan Digital for freelancers, enabling 100% foreign currency retention, and fast-track inward/outward remittances. To provide co-working spaces to freelancers and startups at Software Technology Parks (STPs) across the country. VoIP traffic to be available for PSEB-registered Freelancers. VPN access is to be provided through a PSEB-operated VPN gateway. These benefits will help Freelancers take their careers to the next level and contribute to the growth of the software industry in Pakistan.