How to Invest in Pakistan from the USA — NRP Guide 2026
PKR savings accounts earning 13%, government-guaranteed certificates, and a stock market that returned 40% in FY2025. Here's how to access them from the US.
Start here: Roshan Digital Account
For most Pakistani-Americans, the Roshan Digital Account (RDA) is the best starting point. Open it online in under 30 minutes from the US. It unlocks government certificates, NSS, mutual funds, and PSX — all repatriable without SBP permission.
Roshan Digital Account (RDA)
Official SBP scheme for Non-Resident Pakistanis. Open a Pakistani bank account entirely online from the USA. Invest in Naya Pakistan Certificates, NSS, T-Bills, and equity from abroad.
- → Open from anywhere in the world — 100% digital
- → USD savings account at 6-7% p.a. — much higher than US savings rates
- → PKR savings at 11-13% p.a. (take currency risk)
- → Invest in Naya Pakistan Certificates (NPCs) — government-backed, tax-free profit
- → Repatriate funds at any time without SBP permission
Naya Pakistan Certificates (NPCs)
Sovereign-backed government certificates exclusively for NRPs. Available in USD and PKR denominations with competitive profit rates and full tax exemption on profit.
- → Government of Pakistan guaranteed
- → Tax-free profit for NRP certificate holders
- → Available in 3-month, 6-month, 1-year, 3-year, and 5-year tenors
- → Access via Roshan Digital Account at HBL, MCB, UBL, Meezan Bank, ABL, Al Habib Bank
Pakistan Stock Exchange (PSX)
PSX has been one of the world's best-performing markets over 20 years (CAGR ~15% in USD terms). NRPs can invest via Roshan Investor Portfolio Securities (RIPS) account linked to their RDA.
- → KSE-100 index up 40%+ in FY2025
- → Access via RIPS (Roshan Investor Portfolio Securities)
- → Dividends repatriable without SBP permission
- → Need a CDC account (Central Depository Company) + brokerage account
- → Top sectors: Banking, Fertilizer, Cement, Energy, Tech
National Savings Certificates (NSS)
Government-backed savings instruments from the National Savings Organisation (NSO). Among the highest safe returns in Pakistan. Accessible to NRPs via Roshan Digital Account.
- → Returns backed by Government of Pakistan
- → Regular Savings Certificates: 13.5% p.a.
- → Bahbood Certificates (for senior citizens): 15%+ p.a.
- → Premium Prize Bonds discontinued — Savings Certificates now preferred
- → Profit paid quarterly or annually
Mutual Funds (Unit Trusts)
SECP-regulated mutual funds managed by professional asset managers. NRPs can invest via online portals of major AMCs (Asset Management Companies).
- → Income funds (like money market): 13-16% p.a. — low risk
- → Equity funds: 20-40% p.a. potential — higher risk
- → Islamic funds available for Shariah-compliant investing
- → Major AMCs: Meezan Investment, UBL Fund Managers, Alfalah GHP, NAFA Funds
Real Estate (DHA/Bahria/Other)
Real estate is a traditional NRP investment. Defence Housing Authority (DHA) and Bahria Town files have been popular. Note: increased FBR oversight and 3% filer/non-filer differences apply.
- → FBR 236C withholding tax: 3% for filers, 6% for non-filers on purchase
- → Rental income taxable in Pakistan (15% for non-residents)
- → No FBR permission needed for NRPs to purchase property
- → Capital gains tax on property held <3 years
- → Use a trusted local lawyer and verify with DHA/authority directly
US Tax Implications for NRP Investors
Foreign interest income: All profit from Pakistani savings accounts, NSS, and NPCs is taxable in the USA as ordinary income. Report on Schedule B (Form 1040).
FBAR (FinCEN 114): If your Pakistani bank accounts exceed $10,000 at any point in the year, you must file FBAR by October 15. Penalties for non-compliance are severe ($10,000+/year).
FATCA (Form 8938): If foreign financial assets exceed $50,000 (single filers) or $100,000 (married filing jointly), file Form 8938 with your tax return.
Capital gains on PSX stocks: Gains are taxable in Pakistan (CGT) and in the USA. Pakistan-US tax treaty may allow credit for taxes paid in Pakistan. Consult a US CPA with international tax experience.
Real estate rental income: Taxable in both Pakistan (15% for non-residents) and USA. Pakistan taxes may be credited against US liability under the tax treaty.
This is general information only. Consult a US-licensed CPA or tax attorney before making investment decisions.
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