End-to-end automation of services through the use of modern technology is the top priority on the reform agenda of the Securities and Exchange Commission of Pakistan (SECP), informed a statement issued by the SECP.
The launch of the electronic certificate of incorporation is another step to make the company incorporation process fully electronic and hassle-free. This development is in line with corporate registries of developed countries.
The electronic certificate has been launched from January 1, 2021, and issuance of the physical certificate of incorporation has been discontinued. A new electronic certificate is equivalent to the physical certificate for all legal purposes. It includes various security features, including an SECP monogram, the electronic seal of the registrar, a QR code, and a hyperlink for instant verification from the SECP’s record.
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After this development, the company incorporation process has become fully electronic. This contact-free service has been especially fast-tracked in light of the current pandemic, and with a view of further time savings while incorporating a company.
In 2008, when eService was launched by the SECP for electronic submission, it was the first of its kind initiative by any public sector organization in Pakistan. The recent launch of electronic certificate is another “first” in SECP modernization journey towards end-to-end digitization of all its regulatory functions.
