January 15, 2017

Company Registration with Foreign Directors in Pakistan

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Company Registration with Foreign Directors in Pakistan

Most of the queries received from International clients these days is whether it is possible to register company in Pakistan with foreign directors?

The answer to above question is yes, you can register a company in Pakistan with foreign directors but there are certain things that you may be aware of before you proceed with registration of company with foreign directors.

The first thing is to register the company with foreign directors you need the clear scanned copies of their passports.  Because for local directors we use National ID card number for Digital Signatures as well as for filing of documents which is not available for foreign directors so in their case the scanned copy of their passport is required.

The other thing required is their personal profile. Personal profile is same like resume whereaby all the history of a foreign person is written so that it can be assessed that whether he has the required capabilities to run the organization or not.

The last thing is an affidavit whereby it is stated by the foreign director that if he has not been security cleared by the Interior Ministry of Pakistan all his shares will be subsequently transferred to some other person.

For any person that is not National of Pakistan and wants to operate a business in Pakistan that person need security clearance from Interior Ministry of Pakistan. Such security clearance is directly been seek by the Securities and Exchange Commission of Pakistan once the documents for company registration are submitted.

Therefore an Affidavit is submitted by the foreign National that in case he is not given required clearance from the security agency he will not operate in Pakistan and appoint other person as the owner of those shares.

I hope that the above article provides an outline to the foreign directors however if you need any further information you can email us at contact@itnaconsultants.com or visit our contact us page.

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