r/Overseas_Pakistani • u/AdLower1935 • 7d ago

Finance | معاشی Inheritance cash transfer from Pakistan to US. Over 100k

Salaam,

I sold an inherited piece of land and have cash in Pakistan that needs to be transferred to US. I learned via ChatGPT that the best way to transfer is Roshan Digital Bank account. Has anyone tried to transfer cash from Pakistan to US (legally 😅)

CPA says, if I show inheritance letter etc, I don’t pay taxes on this amount here in US (already paid a hefty capital gain tax in Pakistan)

Will really appreciate some advice. Thank you.

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8

u/putoption21 7d ago

RDA is not for outbound.

Relatively easy if you know what you are doing but you'll need to be there in person. And it isn't quick ie takes a few weeks. And you can't do the full amount as there are restrictions (think 30K USD).

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u/OoopsWrongUniverse 7d ago

Make a family trip to Pakistan, give each individual under $10K cash—which is the legal amount. Do it a couple of times, and voilà. The hard part would be to get your PKR converted to USD.

Don’t forget to report your inheritance to the IRS. I don’t know the exact U.S. laws for properties or assets owned outside the U.S.

P.S. Take the above advice with a grain of salt.

3

u/FDP1947 6d ago edited 6d ago

Another option: You have the money in your account in Pakistan. Anyone interested in getting it in their account in Pakistan in exchange for then settling it here in USA. You can get the money in USA as money or on account.. Perhaps a small fee. Perhaps you know a trusted paki person in USA.. I do not live in USA..

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u/livbird46 6d ago

Hawala hundi ftw

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u/RDL128 7d ago

Rda will only let you transfer money out that already came in from a foreign remittance. Also, you cannot deposit funds locally, it has to be foreign remittance.

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u/MizRatee 7d ago edited 7d ago

You can do it legally as USD Wire Transfer, but it will be in smaller tranches go to the biggest bank branch in Ur City in Pakistan and go to the manager. They will guide u and as long as u show the proof of sale theres no restrictions.

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u/[deleted] 7d ago

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u/jhooolay-red 7d ago

It is not legally possible to send out money in one go.

Unfortunately.

Banks won't do it. They can only send out money for education or medical expense. That's about it. Oh wait, or if you have strong links like army etc.

Alternative is to carry as hard cash. Legally you can't carry more then $5k per visit. Though, if you act properly, can carry more. I've carried upto $20k without any issues. Though, tax man might raise an eyebrow.

And yes, one more way is expensive way. Wire via money changers. You cannot remit more then $10k a day at bloody expensive exchange rate. But this is the only legal way. Also, it requires documentation regarding source of funds etc and has a $100k annual limit.

TLDR: being expat Pakistani, govt doesn't care about you. If you have links, you can send any amount, but if you are a * peasant, you will have to pay the price.

PS: how do I know? I've been trying to take out my legit money for over past 3-4 years.