The Securities and Exchange Commission of Pakistan (SECP) has opened a fully equipped and state-of-the-art facilitation center in Gwadar for the registration of businesses, which is a primary need of investors.
The SECP has taken many steps to facilitate the business community. It is one of the pioneer government departments that has provided facilities to local as well as the foreign business community in Gwadar Free Zone.
The China-Pakistan Economic Corridor is a mega project, which is considered a game changer, and it is very attractive for the local and foreign investors. The SECP registers a company within four hours of the filing of complete documents. The registration of a company within four hours is in line with the government’s initiative to provide ease of doing business in Pakistan.
The SECP has provided online and physical filing facility for incorporation of companies. The standard documents, including Memorandum and Article of Association of various sectors, are available on the SECP website. The fee for online registration of a company is very nominal, i.e. only Rs 1,550.
The fee for physical registration is Rs 3,000. The payment of fee can be made through credit/debit card. The registration with FBR is simultaneously made on registration of the company and there is no need to visit the FBR to obtain an NTN.
There is also no need to obtain a digital signature for the filing of documents. The SECP provides free of cost copies along with registration certificate of necessary forms/documents that are required by the company to open a bank account etc.
It recently introduced a new concept of limited liability partnership (LLP). It combines the flexibility of a general partnership and the advantages of limited liability of a company. It is very useful for the business community, especially for small investors.