The Special Investment Facilitation Council (SIFC) of Pakistan unveiled a visa service on Tuesday aimed at fostering a favorable environment for international entrepreneurs looking to invest in the country. The SIFC, a hybrid body with both civil and military components, was established in June to expedite decision-making and attract foreign investment, especially during a period of economic challenges marked by diminishing forex reserves and a rapidly depreciating national currency.
In a social media announcement, the SIFC proudly introduced the exclusive SIFC Visa, designed to cater to visionary investors and dynamic business leaders. The accompanying video highlighted the visa’s flexibility, ranging from six months to five years in duration. The council pledged to process and issue these travel permits within a remarkable 24-hour timeframe for interested individuals who provided passports, photographs, and SIFC recommendation letters.
Prospective business operators in the country have the option of choosing between a six-month, single-entry visa or a five-year, multiple-entry business visa. Meanwhile, those keen on investing in designated economic sectors can opt for a three- or five-year multiple-entry investor visa. The SIFC emphasized that these visas are extendable for an additional two years, with a processing time of two weeks.
This recent initiative by the SIFC followed discussions during its executive committee meeting earlier this month. The meeting delved into administrative matters related to the establishment of economic zones and addressed issues concerning the privatization process within the country.