Pakistan’s New Visa Policy Attracts Global Investors with Expedited Processing
In a strategic move to entice investors and businesses from around the world, Pakistan’s interim government, led by Prime Minister Kakar, has introduced significant changes to its visa policy. These adjustments aim to streamline and expedite the visa application process, making it more accessible for foreign investors and commercial ventures.
Recommended by the Special Investment Facilitation Council (SIFC), these policy alterations have ushered in a new era of ease and efficiency for prospective international investors. Here’s a breakdown of the key changes:
- Instant Six-Month Business Visas: Foreign investors can now obtain a six-month business visa within a single day. This swift processing aims to remove bureaucratic hurdles and encourage rapid investment.
- Extended Visa Durations: The government has made substantial amendments to visa policies for over 100 countries. Pakistani missions worldwide now obligated to issue five-year business visas within a remarkable 24-hour timeframe.
- Short-Term Investor Visas: In addition to the extended business visas, a short-term investor visa valid for one year will also issued within a day. This flexibility accommodates a wide range of investment plans.
- Efficient Processing by Ministry of Interior: For those seeking a more extended stay, the Ministry of Interior has streamlined the process for five-year investor visas. Now, these visas can obtained within two weeks, offering investors greater convenience.
These visa policy adjustments come at a critical time for Pakistan’s economy. The nation has faced significant challenges, including catastrophic floods and political changes that have strained economic stability. Factors such as fiscal and monetary tightening, substantial currency depreciation, and increased domestic oil and electricity rates have led to a narrowing of industrial growth within a population of over 240 million people.