Foreign company registration in Pakistan is no more complex as we are providing a thorough consultancy with regard to the foreign company registration and its legal and regulatory compliance. However, it requires professional attention and due care.
After commencement of CPEC, multiple international companies registered their Branch / Liaison Offices for the purpose of investments and business. We have assisted large number of foreign companies to register their companies as a non-resident.
Follow these steps to successfully register a foreign company in Pakistan.
Step 1: Name Reservation & Selection of Entity:
You need to reserve company name and entity type i.e. Branch/ Liaison Office, Private Limited etc.
Step 2: Approval from Board of Investment
A foreign company is required to obtain a permission letter from the Board of Investment with a specific validity period for opening and maintaining its branch/liaison office in Pakistan. Copy of such a permission letter is required to be furnished with the documents meant for registration. Renewal/ extension of the permission to open/maintain a branch/liaison office is also required to be obtained from the Board of Investment on the expiry of the validity period of the permission originally granted. Whenever such renewal/extension is granted, a copy must be furnished to the registrar concerned.
Step 3: Pre-Incorporation Compliance
Some businesses require approvals or licensing after registration of the company. We would strongly recommend assessing your qualification as to whether you are qualified or competent to get approval from the concerned department because if after registration of the company, the same is denied that would affect the investment and energy. You can seek our guidance to assess your qualification for the licensing.
Step 4: Documentation & Filing
Once we assess that you are competent to get approval from the concerned regulator, we will compile your file which include following documents.
SECP requires that all documents/information collected regarding the foreign company should be filed with the registrar after they have been:
Upon submission of these documents to the SECP, the SECP shall issue a certificate of incorporation and a National Tax Number (NTN) will be issued to the company at the time of incorporation.
If the business requires approval and licensing from the regulator, soon after the incorporation of the company we will file an application for such permission.
Company after its incorporation requires statutory compliance by submitting relevant forms and audit reports to the SECP.
No matter the industry or company size, all businesses must adhere to certain laws and regulations as part of operations. Regulatory compliance, in fact, deals with a set of guidelines that the law requires organizations to follow. Regulatory compliance processes and strategies provide guidance for organizations as they strive to attain their business goals.
Contracts are the essence of business relationships. Our commercial contract lawyers provide expert advice on contract law and commercial law surrounding a wide range of commercial contracts including for the supply or purchase of goods, services, works and software/data. We put in place clear, workable and cost-effective commercial contracts to enable our clients to lock down new opportunities and focus on meeting and exceeding their business objectives.
We support local and international businesses to achieve their business goals in a most competitive manner. Understanding their business operations and transactions in multiple jurisdictions is of prime importance for a company’s survival in the competitive age. We provide a full range of services to meet their business needs from tax advisory, consulting and cross border restructuring by analyzing the best possible strategies that meet their business objectives through analyzing tax and regulatory implications of transactions and finally implementation assistance, from the perspectives of domestic law and the international tax treaty network.
There are exciting potential when starting the process of establishing a foreign firm in Pakistan. But there are legal complexities along the way that need careful thought. We dispel the misconception that registering a foreign company here in Pakistan is a difficult procedure by presenting a methodical strategy that makes the legal requirements simple.
Making wise selections requires an understanding of the legal aspects of business development. We demonstrate the concrete advantages of matching your tactics with the legal framework through engaging facts and real-world examples. We show how following legal duties may improve your company’s reputation, credibility, and development possibilities by highlighting case studies and success stories. It becomes clear that company goals and legal requirements work in harmony.
Understand the legal requirements for foreign company registration in Pakistan.
Choosing the Right Business Structure: Considering responsibility, tax ramifications, and operational breadth while choosing between a subsidiary, branch, or representative office.
Getting the Required Approvals: Obtaining the necessary approvals from the appropriate agencies, such the Board of Investment (BOI), the Securities and Exchange Commission of Pakistan (SECP), Pakistan Telecommunication Authority (PTA) and Pakistan Software Export Board (PSEB).
Documentation and Filing: Putting together all necessary paperwork, such as the articles of incorporation, the memorandum of association, and all other supporting company’s legal documents.
Appointment of Directors and Shareholders: Making sure that the selection of directors and shareholders complies with local laws.
Capital Requirements and Bank Account Opening: Obtaining the necessary capital as well as opening a bank account for the business’s financial dealings.
Tax Registration and Compliance: Registering with the Federal Board of Revenue (FBR) for taxation reasons and abiding by the FBR’s tax responsibilities.
Employment Regulations: Complying with employment rules and regulations while employing both domestic and overseas workers.
Intellectual Property Protection: Protecting your intellectual property by properly registering it and taking other legal precautions.
Entering Pakistan for business takes careful planning given its changing business environment. Understanding the paperwork needed to register a foreign corporation is essential to this endeavor. This thorough guide reveals the required papers, allowing you to move through the registration procedure with ease.
Documents are the cornerstone of your company’s validity outside of bureaucracy. We explain how thorough planning may hasten registration and improve your company’s legal position.
Discover the necessary documents for registering a foreign company in Pakistan.
Discover the process of Foreign Company Registration (FCR) in Pakistan.
There are many benefits to expanding your company to Pakistan, but completing the registration procedure might be challenging. We help you to establish your presence in this competitive market by demystifying the procedures involved in forming a non-resident company.
Step 1: Compile the necessary papers, such as the articles of company, copies of the directors’ passports, and evidence of the registered address. The foundation for your registration application is provided by these papers.
Step 2: Obtain a certificate of no objection from the relevant embassy or consulate. This certificate streamlines the registration procedure and attests to your adherence to local legislation.
Step 3: A subsidiary, branch, or representative office are examples of appropriate corporate structures. When making this choice, take into account elements like responsibility, taxation, and operational breadth.
Step 4: Create a board resolution for the directors of the parent business. This decision specifies important operating information and approves the foreign company’s establishment in Pakistan.
Step 5: To the appropriate authorities, such as the Securities and Exchange Commission of Pakistan (SECP), submit the necessary paperwork, such as the NOC, board decision, and incorporation documents.
Step 6: Wait for the SECP to approve you after reviewing your paperwork and business plan. You’ll get a certificate of incorporation after it has been accepted.
Step 7: For tax purposes, register your business with the Federal Board of Revenue (FBR). It’s essential to fulfil your tax duties if you want to keep up compliance and trustworthiness.
Step 8: Create a Pakistani bank account for use in business financial transactions. For all transactions and operations pertaining to the business, this account acts as the focal point.
Step 9: Once all legal requirements have been satisfied, you can start doing business in Pakistan. Maintain adherence to all applicable local laws and ordinances.
You can get statutory forms for foreign company from the official website of SECP.
A vital component of establishing and operating a foreign company in Pakistan is navigating the taxes system because foreign companies operating in Pakistan are subject to several tax obligations. Planning your taxes is crucial for reducing your tax obligations and maximizing rewards.
For commercial activities to be effective, it is crucial to comprehend Pakistan’s taxes procedures for international corporations. Understanding your tax responsibilities, taking advantage of advantages, and staying in compliance can help you navigate the taxation system and support the expansion and success of your business. To create a tax-effective approach, speak with our tax professionals who are knowledgeable on Pakistani tax rules and regulations.
Learn about the taxation process for foreign companies in Pakistan.
Pakistan offers various tax incentives to attract foreign investment and promote economic growth. Some common incentives include:
Adhering to tax compliance is crucial to avoid penalties and maintain the company’s legal standing. Here’s how to ensure compliance: