Govt Considers Giving Citizenship to Foreign Investors
Islamabad: According to press reports, the Pakistani government is contemplating granting citizenship to foreign investors.
In a recent meeting, Prime Minister Imran Khan raised the question of granting residency/citizenship to foreign investors, with a particular focus on Afghans living in Pakistan.
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During the meeting, the Board of Investment (BoI) suggested granting Afghani investors citizenship to encourage investment from the country. After debate, the board was instructed to consult with important stakeholders.
However, a BoI official stated that the concept was not exclusive to Afghanistan and applied to other countries as well, adding that the initiative is still in its infancy and that stakeholders must provide input.
The source from the BoI went on to add that the Taliban-led Afghan government could impede the implementation of the idea because the Afghan government has not yet received international recognition.
During the meeting called by the prime minister, the BoI was reportedly asked to offer a proper structure for the practical implementation of this notion.
The proposal by the Bank of Ireland to grant residency to foreign investors is comparable to actions taken by a number of other nations, which offer citizenship/residency to individuals who invest in excess of a certain threshold.
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Citizenship programs in nations such as Austria, Antigua and Barbuda, Dominica, Grenada, Jordan, Malta, Montenegro, North Macedonia, St. Kitts and Nevis, St. Lucia, and Turkey provide an investment-based path to citizenship.
In Pakistan, the United Nations High Commissioner for Refugees (UNHCR) has registered around 1,4 million Afghan refugees, although many more are not. There are expected to be 2 million Afghans in Pakistan. Imran Khan offered an offer of citizenship to refugees shortly after becoming office in 2018.
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