Asif drops Portugal bombshell
Taking to social media platform X (formerly Twitter) the other day, Asif alleged that several prominent bureaucrats are among those planning their exit. He did not name individuals but suggested the trend was widespread within the civil service.
This is not the first time reports have emerged about Pakistani bureaucrats and government officials investing in foreign real estate.
In May 2024, international journalistic body Organized Crime and Corruption Reporting Project (OCCRP) published an investigative report titled Dubai Unlocked.
The investigation revealed that leaked data from 2022 showed 17,000 Pakistani nationals owned some 23,000 residential properties in Dubai. These included former military officers, bankers, politicians, and senior civil servants.
Further concerns about foreign affiliations of civil servants surfaced earlier this year. In January, the National Assembly's Standing Committee on Interior was informed that more than 22,000 bureaucrats hold dual nationality.
Last month, the government amended the Civil Servants Act, introducing Section 15-A, which now requires all Grade 17 to Grade 22 officers to declare their assets - both domestic and foreign - as well as those of their immediate family. These details are to be made public through the FBR in a move aimed at enhancing transparency and accountability in the public sector.
Why Portugal?
The recent focus on Portugal is closely linked to its Golden Visa programme, officially known as the Golden Residence Permit. This initiative allows non-EU nationals to secure permanent residency in the country in exchange for specific types of investments.
Previously, investing in the real estate sector was a popular route to acquire permanent residence, but this option was discontinued in 2023. Current qualifying investments include job creation, research, business development, support for arts and culture, or venture capital funds.
Residency obtained through the Golden Visa programme also allows the main applicant to bring their spouse, children, and parents and in-laws to Portugal. After five years, applicants become eligible to apply for Portuguese citizenship.
According to Bloomberg, Portugal issued nearly 5,000 Golden Visas in 2024, marking a 70 per cent increase from the 2,901 issued in 2023. The sharp rise is attributed to growing investor interest following Spain's decision to discontinue its own Golden Visa scheme in April this year.
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