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.
- Principal Line of Business
- A correspondence or registered office address in Pakistan (if you don’t have one, we can manage subject to the additional cost)
- Name of shareholder(s), Director(s) and Chief Executive along with their notarized copies of passport or CNIC/POC/NICOP in case of Overseas Pakistani
- Detail of shares to be subscribed by each shareholder
- Authorized and Paid-Up Capital details
- Undertaking by the foreign shareholders and directors on the prescribed format
- Documents related to a foreign company (in case the proposed shareholder is a company)
- Profile of the company
- Detail of its directors, their nationality and country of origin
- Board Resolution (Approval of investment in a local company)
- Articles of association
- Memorandum of association
- Certificate of incorporation