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).
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.
ESTABLISHMENT OF BRANCH OFFICE AND LIAISON OFFICE
BY FOREIGN COMPANIES IN PAKSITAN
Board of Investment (BOI) grants permission to foreign companies to open their Branch Office and Liaison Office in Pakistan.
BOI (Islamabad & Karachi Offices) have issued 551 permissions during 2007-2010 in respect of opening/extension of Branch and Liaison Offices in Pakistan.
Branch Office:
Branch Office is established by a foreign company to fulfill its contractual obligations with the public or private sector in Pakistan. Their activity will be restricted to the work mentioned in the agreement / contract signed. However they cannot indulge in commercial / trading activities.
Liaison Office:
Liaison Office is established by a foreign company for promotion of products(s), provision of technical advice & assistance, exploring the possibility of Joint Collaboration and export promotion. However, they can not undertake any commercial / trading activities.
The request for opening of Branch office or Liaison Office is processed and finalized within 6-8 weeks time, provided that the company fulfills all requirements and concerned quarters have no objection. The permission is issued for a period of 3-5 years, further renewable on submission of performance report with regard to Liaison Office and up to the completion of valid contract/agreement period in case of Branch Office.
PROCEDURE
Step-1 : To download Application Form and send along with six sets of following documents:
i. Application Form (duly filled in and signed with stamp)
ii. Copy of registration of the foreign company duly attested by respective Pakistani Embassy;
iii. Copy of Articles and Memorandum of Association duly attested by Respective Pakistan Mission;
iv. Copy of Resolution / Authority letter of the company to establish Branch / Liaison Office in Pakistan;
v. Copy of contract / agreement (in case of Branch Office Only)
vi. Company Profile; and
vii. Designated person authorized to act on behalf of the company
Opening of Branch and Liaison Office processing fee is as follows:
- Opening of Branch Office Charges per annum
i. Regular Permission (initial registration US $ 3000
for a period of one year.
ii. Renewal Charges for each year US $ 1000
(1-5 years renewal based on the request
of the company)
- Opening of Liaison Office Charges per annum
iii Regular Permission (initial registration US $ 2000
for a period of one year.
iv. Renewal Charges for each year US $ 500
(1-5 years renewal based on the request
of the company)
The amount is also acceptable equal in Pakistani rupees and shall be deposited in the Board of Investment PLS Account No. 44991-2 being maintained with National Bank of Pakistan, Main Branch, Civic Centre, Islamabad.
Step-2 :
On receipt of complete documents, BOI examines the documents and circulate the request to all concerned quarters for their views / comments.
Step-3 :
Having received clearances from all concerned quarters / agencies, BOI grants permission to foreign company to open their Branch / Liaison office in Pakistan.
A foreign company, i.e. a company incorporated outside Pakistan, is required to deliver following documents to the concerned Registrar within 30 days of the establishment of its place of business in Pakistan:
- A certified copy of charter, statute or Memorandum and Articles of Association of the company in the English or Urdu language 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) 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).
- Foreign companies that intend to undertake export activities in Pakistan will be registered immediately on production of valid documents
- Permission to companies engaged in contractual obligations of contracts with public sector entities will be granted on production of valid document without circulation to government departments. Visit the Board of Investment (BOI) web site (http://www.pakboi.gov.pk) for the application corm and the required documents.
- Permission for opening a liaison office by a foreign company to promote products and services will be granted by the BOI in consultation with the concerned agencies
- Companies that wish to open their branch/liaison or representative offices in Pakistan may apply to BOI for permission on prescribed form. The BOI process and decide such cases within a period of 6 to 8 weeks.
- Details on the required documentation, etc. are available at all offices of the BOI. A specimen of the application for permission to establish branch/liaison offices by foreign companies can be obtained form the BOI website (http://www.pakboi.gov.pk)
- Permission for opening of branch/liaison offices may be granted by the BOI for a period of 3 to 5 years. Further extensions will be granted after reviewing the past performance of the foreign companies. Request for renewal will be processed by the BOI within two weeks.
