| Availability
of Name of the Company
The
first step with regard to incorporation of a company is to confirm the
availability of the name of the proposed company from the concerned
registrar on payment of a fee of Rs.100, The name should not be
inappropriate, deceptive or designed to offend the religious
sensibilities of the people, and it should neither be identical nor have
a close resemblance to the name of any existing company.
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Required
Documents
A foreign company incorporated
outside Pakistan, is required to submit the following documents to the
concerned agencies within 30 days of establishing presence in Pakistan:
- A
certified copy of the charter, statute or Memorandum and Articles of
the company, in English or Urdu, accompanied by prescribed Form
38;
- Address
of the registered or principal office of the company on Form
39;
- A
list of Directors, the Chief Executive and Secretaries (if any) of
the company on Form
40;
- Particulars
of the principal officer of the company in Pakistan on Form
41;
- Particulars
of person (s) resident in Pakistan authorized to accept services on
behalf of the foreign company on Form
42;
- Address
of the principal place of business in Pakistan of the foreign
company on Form
43 (Section 451)
Any
change or alteration in particulars stated at serial No. 1 to 6 above is
required to be filed on Form
44 with the registrar concerned within 30 days of such change or
alteration (section 452); and
Foreign
company is required to file annually with the registrar concerned annual
accounts in respect of its operations within Pakistan as well as its
global accounts together with the list of Pakistani members and
debenture holders and particulars of places of business of the company
in Pakistan within the prescribed period (Section 453).
Foreign
company is required to give notice on Form 46 to the registrar concerned
at least 30 days before it intends to cease to have a place of business
in Pakistan and to publish a notice of such intention at least in two
daily newspapers circulating in the province or provinces in which such
place or places of business are situate
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FOREIGN
COMPANIES
Foreign
Company
A
Foreign company, i.e. a company incorporated outside Pakistan, is
required to deliver the following documents to the concerned Registrar
within 30 days of the establishment of its place of business in
Pakistan:
(i)
A certified copy of the charter, statute or Memorandum and Articles of
the company in the English or Urdu languages accompanied by prescribed
Form 38;
(ii)
Address of the registered or principal office of the company on Form 39;
iii)
A list of Directors, the Chief Executive and Secretaries (if any) of the
company on Form 40;
(iv)
Particulars of the principal officer of the company in Pakistan on Form
41;
(v)
Particulars of person(s) resident in Pakistan authorised to accept
services on behalf of the foreign company on Form 42;
(vi)
Address of the principal place of business in Pakistan of the foreign
company on Form 43 (Section 451
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LIAISON
/ BRANCH OFFICES
OPENING
OF LIAISON / BRANCH OFFICES OF FOREIGN FIRM
(I)
Foreign companies that intend to undertake export activities in Pakistan
will be registered without any formality.
(II)
Permission to companies engaged in contractual obligations of contracts
with public sector entities will be granted on production of valid
documents without circulating to government departments,
(III)
For companies that wish to open their branch/ liaison or representative
offices in Pakistan may apply to BOI for permission on prescribed form.
The BOI will process and decide such cases within a period of 6 to 8
weeks
(IV)
Details on the required documentation, etc, are available at all offices
of BOI. a specimen of the application for permission to establish
branch/ liaison office by foreign companies is presented in Annex-XXI
(V)
Permission for opening of branch/ liaison office may be granted by the
BOI for a period of 3 to 5 years. Further extension will be granted by
the BOI after reviewing and examining the past performance of foreign
companies. Request for renewal or extension will be processed by the BOI
with two weeks provided the requests are supported with complete
documentation.
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