Step 1 Permission From Board Of Investment A foreign company is required to obtain permission letter from the board of investment

(BOI) for a period of one year for opening and maintaining its branch/ liason office in Pakistan. Kindly note that after our discussion we have checked it with BOI and recently i.e just a few days ago BOI has issued a notification and as per this notification, BOI is charging US$ 2,000 for issuing permission for liason office in Pakistan. Annual renewal fee is US$ 500 only. Whereas as per the said notification registration Fee for establishing Branch Office is US $ 3000 per year and renewal fee is US $ 1000 per year. Documents required for obtaining permission from board of investment are as follows: 1. 2. 3. 4. 5. 6. 7. 8. Full name and address of foreign company Country of origin Present business/activities Name of countries where branch/liaison office already exist Proposed name under which office permission is required in Pakistan Proposed address in Pakistan also indicate places if more than one Intended field of business activity in Pakistan State if repatriation facilities are required by foreign firm for capital and profits 9. State if any Pakistan company/individual is associated in the company with details of investment (%share) 10.Name and address if any already working in Pakistan 11.Period and date for which permission is required. State if proposed company is subsidiary of any principal or organization. 12.State no of personnel to be employed giving details of foreign/local and their status. 13.Investment proposed to be made in detail foreign/local and sources. 14.Annual recurring expenses and its source 15.State program to establish investment program in Pakistan if so nature of the same 16.Name of bank in Pakistan

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17.Any other information which is deemed appropriate of consideration of request 18.designated person authorized to act on behalf of company 19.Copy of registration of foreign company duly attested by Pakistan mission 20.Copy of articles and memorandum of association 21.copy of agreement in case of branch office 22.Copy of company profile 23.Copy of resolution/authority letter of the company to establish branch./liaison office in Pakistan. Time Required for permission from BOI: 6-8 weeks For obtaining permission from BOI, our professional charges shall be Rs. 50,000 only. Step 2: Registration with Securities and Exchange Commission of Pakistan: Fee For online submission of documents: 1. Application fee for documents delivered for registration by foreign company: Rs. 25,000 2. Filing fee: Rs. 600 3. Return showing address of the registered or principal office of a foreign company: Rs. 600 4. Return showing particulars of directors, CEO and secretaries of a foreign company Rs. 600 5. Return showing principal officer of a foreign company: Rs. 600 6. Return showing particulars of persons resident in Pakistan authorized to accept service on behalf of a foreign company: Rs. 600 7. Return showing address of the principal place of business in Pakistan: Rs. 600 8. For list of places of business established by a foreign company in Pakistan: Rs. 600. 9. Power of attorney: Rs. 500 10.Miscellaneous expenses: Rs. 5000 ___________________ Total Rs: 34,700/ only. ___________________

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OR Fee in case of Physical submission of documents:

1. Application fee for documents delivered for registration by foreign company: Rs. 50,000 2. Filing fee: Rs. 1500 3. Return showing address of the registered or principal office of a foreign company: Rs. 1500 4. Return showing particulars of directors, CEO and secretaries of a foreign company Rs. 1500 5. Return showing principal officer of a foreign company: Rs. 1500 6. Return showing particulars of persons resident in Pakistan authorized to accept service on behalf of a foreign company: Rs. 1500 7. Return showing address of the principal place of business in Pakistan: Rs. 1500 8. For list of places of business established by a foreign company in Pakistan: Rs. 1500 9. Power of attorney: Rs. 500 10.Miscellaneous expenses: Rs. 5000 __________________ Total Rs.66,000 only. ___________________ Documents required to be filed with the SECP: 1. Certified copy of the charter, statute or Memorandum and Articles of the company. 2. Address of registered office or principal office of the company. 3. Particulars of directors, Chief Executive and Secretary, if any, of the company. 4. Particulars of principal officer of the company in Pakistan. 5. Particulars of person(s) resident in Pakistan authorized to accept service on behalf of the foreign company alongwith the certified copy of the appointment order, authority letter of board of directors resolution and consent of the principal officer. 6. Address of principal place(s) of business in Pakistan of the foreign company. 7. Addresses of branches of the company in Pakistan (if any). 8. Authority letter in the name of authorized representative of the foreign company.

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For registration with SECP, our professional charges shall be Rs. 75,000 only.

CLOSURE OF LIASON OFFICE Documents required for closure of Liason/ branch office in Pakistan: 1. Request letter for closure to Board of Investment 2. Activity report, Proceeds Realization Certificates, and Audited Accounts for the last permitted period. 3. Copies of press clippings regarding closures. 4. Confirmation from tax authorities that all assessments and dues are clear. Intimation of ceasing to have place of business to be given to SECP: For the purpose of closing of place of business in Pakistan, the foreign company has to give notice of such closing to the SECP in prescribed form and within statutory time. Filing fee shall be Rs. 600 and our professional charges shall be Rs. 75,000/ only. No fee is charged by the Board of Investment for closure of liason/branch office in Pakistan.

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