Every foreign company has the motive to expand their business globally. For this purpose, once the company has decided to mark its presence outside the home country it requires special permission from the government officials of that particular country. Pakistan is situated at a very premium location which owns a geopolitical important and having population of 230 million people. In recent years, Pakistan has observed tremendous growth economically and country has grabbed the project of CPEC which has brought multi-million dollar investment to the country.
Steps Involved To Establish A Liaison Office
Hire A Right Consultant
SECP is an apex regulator in Pakistan for all corporate affairs. The department has authorized few intermediaries who help the founders about the procedural guidelines to establish a liaison office in the country. In the first step foreign company needs an NOC and no objection certificate from Board of Investment (BOI). After receiving the NOC from the concerned department, foreign company move towards the name registration process ad once name is reserved company will be incorporated after following all the procedures defined under the law. In the last step, the company will get the NTN (National Tax Number) from FBR that is federal board of revenue. And open a bank account through his/her authorized representative/ principle office.
Documentation Requirement
Documents required to fill an application are
- Application form for a Liaison Office as prescribed by Board of Investment.
- Copy of registration of foreign company or certificate of incorporation in its own Country duly attested by various Pak Embassy/High Commission/Consulate General.
- Copy of Article of Memorandum and Article of Association documented by various Pak Embassy/High Commission/Consulate General.
- Copy of Resolution/Authority letter of the company to establish liaison workplace in Pakistan.
- Copy of Contract Agreement made by a foreign company with Public or Private Entity in Pakistan.
- Company Profile of the foreign company.
- Fees as prescribed by the Board of Investment.
- Any other document deemed important by the Board of Investment can be requested from the Company.
Processing Time
It takes one week for document preparation and document attestation from embassy also takes 3-4 days usually. After receiving the original document from the client the consultant then submit the document within one or two working days. After submitting the documents it takes around 6-8 weeks till you receive the NOC and further one to two weeks for other proceedings till you operationalize the business.
Government Fee Submission
The client has to pay the government fee directly to the government through online payment method. The fee of liaison office is $2000.
Renewal Process
The request for renewal shall be accompanied by the following documents:
- Online request from Liaison Management Information System (BLMIS)โ
- Copy of valid Contract Agreement,
- Copy of latest Audited Accounts,
- Proof of fees paid.
- Proceeds Realization Certificate issued by concerned bank authorities, where the Bank Account of the company is maintained.
Alternation In Particulars
Whenever liaison office changes his office location, it is bound to inform the board of investment within 30 days. If foreign company has decided to hire a new principle office or authorized representative, it must inform this change to to SECP and board of investment through prescribed form.
Exit from Pakistan
Foreign company intends to close its liaison office in Pakistan, it is required to follow the procedures and guidelines and intimate the concerned authorities through proper documentation and bound to provide further documentation if required by the officials.
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