Chi­nese in­vestors be pro­vided res­i­dence cards

The Pak Banker - - NATIONAL -

Shah Faisal Afridi, Pres­i­dent PakChina Joint Cham­ber of Com­merce and In­dus­try has ne­ces­si­tated to pro­vide res­i­dence cards to Chi­nese in­vestors on the pat­tern de­vel­oped coun­tries. In this re­gard Pres­i­dent PCJCCI wrote a let­ter to Chair­man, Board of In­vest­ment to bring the mat­ter into his con­sid­er­a­tion.

In a press state­ment is­sued today Faisal Afridi said "We, at PCJCCI, con­tin­u­ously re­ceive busi­ness del­e­ga­tions from China in­tend­ing to in­vest in Pak­istan's key busi­ness seg­ments. Among other things, the premier con­cern of prospec­tive in­vestors is how to ob­tain res­i­dence card of Pak­istan on the pat­tern of Euro­pean coun­tries which may pro­vide them to re­side and in­vest for at least five years in­stead of one year mul­ti­ple en­tries visa pasted on their pass­ports.

Faisal Afridi de­manded res­i­dence cards cou­pled with In­vest­ment pro­grams with sim­pler reg­u­la­tions and busi­ness-friendly en­vi­ron­ments to en­cour­age Chi­nese in­vest­ment in Pak­istan.

He pro­claimed that due to eco­nomic chal­lenges and po­lit­i­cal pres­sures, Pak­istan should re­struc­ture its in­ter­nal poli­cies and pro­ce­dures to at­tract busi­ness­man and in­vestors to the coun­try. One way of do­ing this is through cor­po­rate im­mi­gra­tion, more re­laxed tax leg­is­la­tion and fa­vor­able treaties. The other way is through pro­vid­ing spe­cial Cit­i­zen­ship by In­vest­ment pro­grams, added Afridi.

He main­tained that is­suance of res­i­dence card will pro­vide strength and con­fi­dence to prospec­tive in­vestors. Fur­ther, the holder of this card may get some ad­di­tional ben­e­fits in­clud­ing Air­port pro­to­col, con­ve­nience to deal­ing with gov­ern­ment de­part­ments, is­suance of spe­cific li­censes, sell­ing and pur­chas­ing of in­dus­trial land etc. In his let­ter Afridi re­quested Board of In­vest­ment to con­vince the con­cerned au­thor­i­ties for the is­suance of five years Mul­ti­ple Res­i­dence Card for prospec­tive in­vestors from China.

He men­tioned that this priv­i­lege will play as a cat­a­lyst to broaden the in­vest­ment port­fo­lio of Chi­nese Faisal Afridi ex­pli­cated that "Cit­i­zen­ship by In­vest­ment" is a mod­ern con­cept in­tro­duced and im­ple­mented in de­vel­oped coun­tries that has not only opened the doors to new ways of do­ing suc­cess­ful busi­ness, but also pro­tected their wealth and en­sured high qual­ity of live for them, their fam­i­lies and for the gen­er­a­tions to come.

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