Advice on money transfer

[Silaaj]

Re: Advice on money transfer

@shareefbanda

Salaam to all.

I am wanting to sell some property in Pakistan so I can purchase a house in the States.

Has anyone gone through this process and have advice. I’d like to transfer funds from Pakistan to USA but I understand it’s not as easy as it sounds?

Any advice is helpful.

Thanks.

Id say ask Ishaq Dar. Extensive knowledge and experience in the field.

But realistically, the process is not that complex. However, it depends on a few things.

1. Are you a dual citizen? I assume so.
2. Do you spend less than 180 days a year in Pakistan? I assume so, which would make you a non resident.
   The amount can be transferred through any bank where you hold an account, below a threshold of $5 million I believe. However, there will be some paperwork to sort out, justifying the source of funds, and justifying your reasons for remitting abroad. Under $10,000 can be done without any issues. Any amount above that has to be justified with documentation.