Foreign Company

What are the requirements after establishment of place of business by foreign companies in Islamic Republic of Pakistan?
Form, 38, 39, 40, 41, 43, 44 to be given at SECP
A. As per Companies Ordinance, 1984 Foreign Company incorporated outside Pakistan, is required to file the following documents to the registrar securities and exchange commission of Pakistan concerned within 30 days from the establishment of its place of business in Pakistan;
A certified copy of the charter, statute or Memorandum and Articles of the company accompanied by Form 38. The certification is to be given by:-
(a) the public officer in the country where the company is incorporated to whose custody the original is committed or
(b) a notary public of the country where the company is incorporated; or
(c) an affidavit of a responsible officer of the company in the country where the company is incorporated. The signature or seal of the person so certifying shall be authenticated by a Pakistani diplomatic consular or consulate officer. If the document is not in English, duly certified translation in English or Urdu language is provided
– Address of registered office or principal office of the company, on Form 39;
– Particulars of directors, Chief Executive and secretary (if any) of the company, on Form 40;
– Particulars of principal officer of the company in Pakistan, on Form 41;
– Particulars of person(s) resident in Pakistan authorized to accept service on behalf of the foreign company, on Form 42 along with the certified copy of the appointment order, authority letter of board of directors’ resolution and consent of the principle officer;
– Address of principal place of business in Pakistan of the foreign company, on Form 43.
– Permission letter from the Board of Investment with a specific validity period for opening and maintaining of a branch/liaison office by a foreign company.
– Any change or alteration in particulars stated in the documents and returns filed at the time of registration is required to be filed on form 44 with the registrar concerned within 30 days of such change or alteration. 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 of places of business of the company in Pakistan within the prescribed period. Foreign company is required to submit the renewal/extension of the permission to open/maintain a branch/liaison office from the Board of Investment on the expiry of the validity period of the permission, originally granted.
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 situated.

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