How The Initiative Of NICOP Will Facilitate Foreign National And The Economy Of The Country?

Overseas Pakistani send money to Pakistan, so the government is continuously making efforts to facilitate the Pakistani diaspora in other countries. For the ease of Pakistani foreign nationals, the government of Pakistan has started National Identity Card for Overseas Pakistanis (NICOP). NICOP is a government-issued identity card for Pakistanis employed or living abroad. In Pakistan and abroad, NICOP can be used to replace the Digital NIC (CNIC) for personal identification.

At locally or abroad entry or exit checkpoints, the card is expected to be printed. The National Database and Registration Authority (NADRA) ordinance provide for the issuance of NICOP to Pakistani employees, refugees, residents, or dual nationals who have registered under the NADRA Ordinance. All Pakistanis living in the United States for more than six months must now complete NICOP.

How Will NICOP Help Expatriates Living Abroad?

  1. International passport holders are not required to obtain a visa to enter Pakistan.
  2. Security of all Pakistani citizens’ rights
  3. Can open a bank account in Pakistan with full recognition as an average Pakistani citizen
  4. Can apply for an MRP (Machine Readable Passport), which serves as proof of Pakistani citizenship.
  5. Permission to purchase and sell real estate in Pakistan.
  6. Permission to purchase and sell real estate

Pakistani nationals who want to give up their citizenship can apply for a POC Card.

Why Is Pakistani Diaspora So Important For Economy Of The Country?

A total of ten million Pakistanis reside outside the country. Overseas Pakistanis are what they’re called. The bulk of Pakistanis living abroad live in Europe and other countries. Many Pakistanis living in Europe and the United States have dual nationality or permanent residency. Economic, technical, and educational opportunities are the key reasons for Pakistanis to live abroad. These Pakistanis living abroad transfer money to Pakistan regularly. According to reliable sources, Pakistanis living abroad send around US$13 billion to Pakistan per year, which is a significant contribution to the country’s economy.

How Overseas Pakistani Transfer Large Sum Of Money To Pakistan?

Digitalization has been made possible by the ability to transfer money across continents through online money transfers to Pakistan and other countries. Businesses can now easily transfer significant amounts of capital among other businesses. The significance of online financial transactions must not be overlooked. Business owners have earned millions as a result of the innovation and development put into internet transactions.

Convenience and security are two pillars that make online banking a valuable business tool. Most Pakistani foreign nationals are adopting send money to Pakistan online as the norm; in fact, some businesses also rely solely on online money transfer services for all of their customer interactions.