Incorporation in Pakistan: Part 2

This entry is a continuation of the last post which dealt with the topic of incorporating companies in Pakistan under the Companies Ordinance 1984 (the “Ordinance”). Foreign investment is crucial for any country’s economy. In an era of globalisation, relocating overseas or doing business in a developing country is quite competitive and investors are spoilt for choice about where to go. There are loads of low cost destinations all over the world. Here, in this post, we will highlight and explore post incorporation requirements for foreign companies in Pakistan which – as an English based and American influenced legal system – offers unique business opportunities to Asian, African, American, European and other businessmen and entrepreneurs. 

• Any change or alteration in particulars stated in the documents and returns filed at the time of registration under section 451 (Documents to be delivered to registrar by foreign companies) is required to be filed on form 44 with the registrar concerned within 30 days of such change or alteration (Section 452 – Return to be delivered to registrar by foreign companies whose documents, etc. altered).

Incorporation in Pakistan: Part 1

This is an international corporate law site edited by an advocate of the High Court of Sindh, Pakistan. Therefore, as someone involved in producing this site, I am taking the opportunity to set things in motion by posting on Pakistani company law which is governed by the Companies Ordinance 1984 (the “Ordinance”). Compliance with the Ordinance is regulated by the Security and Exchange Commission of Pakistan (“SECP” or the “Commission”) which was established under the Securities and Exchange Commission Act 1997. 

SECP became operational in 1999 and it replaced the older Company Law Division. SECP’s central office is located in the federal capital Islamabad and the Commission also operates company registration offices (“CROs”) in other cities such as Karachi, Lahore, Quetta, Peshawar, Multan, Faisalabad and Sukkur. The SECP is divided into seven divisions and for business and financial law purposes the relevant sections are the (i) company law division; (ii) securities market division; (iii) specialised companies division; and (iv) insurance division.