SECP

SECP
Rafay Siddiqu: msci19111095

Abu bakar : msci19111105
Rehman sahid
SECP
 The Securities & Exchange Commission of Pakistan is the financial regulatory agency in
Pakistan whose objective is to develop a modern and efficient corporate sector and a
capital market based on sound authority principles, in order to encourage investment and
foster economic growth and prosperity in Pakistan.
History
 The Securities and Exchange Commission of Pakistan (SECP), pursuant to the SECP
Act of 1997 has been mandated to regulate and develop the corporate sector and the
non-bank financial markets; including the capital markets, mutual funds, non-
banking financial companies (NBFCs), modarabas, insurance companies and private
pensions.
Objectives:
 The regulatory objectives of the SECP are to; maintain fair, orderly and efficient
markets, promote robust corporate and insurance sector, protect rights of investors,
facilitate capital formation and develop an efficient and dynamic regulatory
framework.
What SECP do:
 SECP recognizes the strategic importance of investors’ education to create financial

literacy for protection of investors’ rights as well as to raise their financial capability
in order for them to make informed investment decisions. Investors’ education not
only enhances investor sophistication but also helps regulators and financial service
providers to maintain market discipline.
Why we need SECP:
 To undertake the program on a broad scale, the SECP has partnered with key capital
market stakeholders, the Karachi Stock Exchange (KSE), Lahore Stock Exchange
(LSE), Islamabad Stock Exchange (ISE), Pakistan Mercantile Exchange (PMEX),
Central Depository Company (CDC), National Clearing Company of Pakistan
Limited (NCCPL) and Mutual Funds Association of Pakistan (MUFAP) to undertake
a single investor education program across the nation. Key elements of the program
such as educational material drafted and seminars run will all be branded under the
head of the Institute of Capital Markets (ICM).
Type of companies:
Under the parameters laid down by the Companies Act (2017), a person can register three
types of legal companies in Pakistan:
 Single Member Company
 Private Limited Company
 Public Limited Company
Capital required to register:
companies Minimum Capital Required Time of Incorporation

(PKR)
Single member company 100,000 4weeks
Private Limited company 100,000 6weeks
Public limited company 200 million 6 weeks

Steps:
Approval of the name:
 It should not be identical or resemble the name of any existing company or registered

LLP.
 The company name shouldn’t be inappropriate or deceptive.
 Try not to include any word or words in the company name which are offensive to any
section of the people
 It should not include any other word that in the opinion of the registrar is undesirable.
 Your company or firm name must not exploit the religious susceptibilities of people.
Submitting documents:
 CNIC Copies of Directors, CEO, Nominee (for the single-member company) or copies

of passport in case of a foreigner.
 NOC or letter of intent/ license from concerned authorities if you want to register some
specialized business.
 In the case of foreign company incorporation, you need to provide more details such as
List and details of Directors. The company profile, detail of Directors and
their nationality. You need to provide Company charter’s certified copy. You need to
provide Memorandum of Association and Articles of Association as well.
Certificate of incorporation:
 After submitting all the documents, the Securities and Exchange Commission of

Pakistan (SECP) will evaluate them and they will check all the documents validity. A
digital signature or company seal will be granted by the National Institutional
Facilitation Center (NIFT). You can acquire it from SECP.
 All company directors signature are needed to receive this company seal. You will get a
certificate of incorporation from SECP if all your documents are valid. It will be issued to
you in the physical form or electronically. When you get incorporation certification from
SECP, you can start your business.
Income and sales tax:
 NTN form.
 Registration Proof.
 Memorandum and Articles of association.
 Bank account number.
 Copies of National Identity Cards of companies’ Directors.
 Evidence of business address.

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SECP

Rafay Siddiqu: msci19111095

 SECP recognizes the strategic importance of investors’ education to create financial

companies Minimum Capital Required Time of Incorporation

Single member company 100,000 4weeks

Private Limited company 100,000 6weeks

Public limited company 200 million 6 weeks

 It should not be identical or resemble the name of any existing company or registered

 CNIC Copies of Directors, CEO, Nominee (for the single-member company) or copies

 After submitting all the documents, the Securities and Exchange Commission of

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