September 21, 2020 (MLN): The Pakistan Stock Exchange has said that Foreign persons and institutions as well as non-resident Pakistanis (NRPs) can invest in securities listed on PSX and benefit from potential growth opportunities available through investing in the Exchange.
‘For non-resident Pakistanis, investing in PSX is specially an attractive venture as it will enable them to benefit from the competitive returns from the Pakistani Capital Market while being stakeholders in their homeland’s economy’, PSX said on its website.
‘Foreign investors are considered at par with the local investors at PSX and they can acquire 100% of the ownership in all companies except the restricted industries. There is no extra taxation for foreign investors and they are allowed repatriation of profit and investment at any time with the approval of State Bank of Pakistan’, it added.
Th Central Depositary Company (CDC), too, recently released detailed information regarding the process flows of investment in stock market by Non-Resident Pakistan through Roshan Digital Account (RDA), in order to facilitate them on its use. The report covered information pertaining to Account opening, offering of direct Custodial Services (SCRA Model) by the designated Bank of NRP, and trading through CDC DSS.
There are now two ways an investor from abroad can invest on PSX. One is through opening a Special Convertible Rupee Account (SCRA) and the other is through opening of Roshan Digital Account (NRP Rupee Value Account – NRVA).
Copyright Mettis Link News