How to Invest in PSX From Abroad With a Roshan Digital Account

If you are a Pakistani living overseas, you can invest in PSX from abroad without flying home. The route runs through a Roshan Digital Account (RDA), a bank account for non-resident Pakistanis and Pakistan Origin Card holders that is opened online, and an investment account linked to it called Roshan Equity Investment (REI).

In short: open an RDA with a participating Pakistani bank, choose the REI option in the bank's portal or app, pick a securities broker, move money from your RDA to the CDC bank account held with your bank, and trade through your broker's app. Your shares sit in a custody account with the Central Depository Company (CDC), Pakistan's securities depository.

Who Can Use a Roshan Digital Account

Banks set out eligibility on their RDA pages. HBL's Roshan Digital Account page, for example, says any non-resident Pakistani individual or non-resident Pakistan Origin Card (POC) holder can open one, and accepts a CNIC, NICOP or POC; elsewhere it also mentions foreign nationals, who have a separate document list. Meezan Bank's RDA page lists the same groups and also names foreign nationals.

To trade shares, you also need the REI account. PSX's Roshan Equity Investment page states that you must be an RDA holder, and describes REI as the investment account overseas Pakistanis open through their RDA to trade stocks, bonds, exchange-traded funds and government securities on PSX, in both conventional and Shariah-compliant options.

Documents the Bank Will Ask For

You submit your documents to the bank when you open the RDA. The lists on bank pages are similar. HBL asks for:

• A scanned CNIC, NICOP or POC
• The first two pages of your passport
• Proof that you live abroad, such as a visa, residence permit or entry and exit stamps
• Proof of your profession and source of income, such as a salary slip, salary certificate or contract letter, not older than three months
• A live photograph and your signature

HBL lists further documents for foreign nationals, including an IRS Form W-8 or W-9 for US residents, so check your bank's list if this applies to you. According to PSX, your bank and your broker may also ask for additional information or documents before your REI account is opened. Our guide to opening a PSX trading account explains the regular account types for comparison.

How Roshan Equity Investment Works, Step by Step

PSX sets out the REI process on its Roshan Equity Investment page:

1. Open or log in to your RDA with a participating bank.
2. Select the REI option in the bank's RDA portal or app. You consent to the bank sharing your RDA details with CDC and other capital market bodies, and accept the terms for investing in Pakistan's capital market.
3. Choose a securities broker from the list shown in your bank's portal.
4. Receive your account opening package. If your information is complete and correct, CDC emails it within 24 hours of its acknowledgement email. It covers your REI account with the broker, registration of your Unique Identification Number (UIN) with NCCPL, your CDC custody account, Direct Settlement Service activation if you opted for it, and access to CDC's online services.
5. Fund the account by transferring money from your RDA to the CDC bank account held with your bank.
6. Start trading through your broker's app or portal.

PSX rules support this route. Under the PSX Regulations, a broker may open an account for a non-resident Pakistani who maintains an NRP Rupee Value Account (NRVA), the rupee version of the Roshan Digital Account, with a designated bank, using the information received from CDC or the bank, plus any additional information PSX procedures require, in place of the usual account opening forms.

Where Your Shares and Cash Sit

With REI, your shares are held in a custody account with CDC rather than with your broker. According to PSX's REI page, corporate action entitlements are credited to that account, cash dividends are held with CDC, and CDC pays for your purchases and receives the proceeds of your sales on your behalf.

HBL notes that an RDA can be held in rupees or foreign currencies, and that shares listed on Pakistan's stock exchange are among the investments open to its rupee account, via CDC. HBL describes its RDAs as fully repatriable, and the State Bank says investment proceeds, profit and balances can be sent abroad without any approval. Ask your bank how long a transfer back to your country of residence takes.

What It Costs

The main costs are:

• Broker commission: CDC pays your broker's commission from the cash you transferred, and your broker tells you its rates.
• NCCPL charges: clearing charges are deducted by CDC.
• Direct Settlement Service: PSX's REI page states this CDC service is free of cost for overseas Pakistanis.
• Taxes: tax on dividends and capital gains from shares bought through an RDA is deducted at filer rates as a full and final tax, so you do not need to file a tax return in Pakistan for this income. The State Bank announced this in February 2021, and FBR confirmed in September 2026 that RDA holders are not charged non-filer rates. Ask your broker or a tax adviser for the current rates.

HBL also states that compulsory Zakat deduction does not apply to its RDA accounts, in either foreign currency or rupees.

Choosing a Broker for Your RDA Investments

PSX publishes a list of brokerage houses for REI accounts, and your bank's REI screen shows which brokers you can select. When you compare them, look at commission rates, the quality of the trading app, research support and how quickly they answer questions across time zones.

BSL is set up as a Roshan Equity Investment broker, so you can select us on your bank's REI screen. Our Roshan Digital Account page explains how to contact us about RDA investing and what to prepare. Before you invest, our guide to portfolio diversification in Pakistan can help you decide how much of your savings to put into Pakistani shares.

Disclaimer: This article is for educational purposes only and should not be treated as investment advice. Stock investments carry market risk, and investors should consult a licensed financial advisor before making investment decisions.