|
DESCRIPTION |
BRANCH OFFICE |
LIAISON OFFICE
|
|
SCOPE OF
ACTIVITIES |
A branch office
is set up by a foreign firm to execute the contracts awarded
to it.
Activity will be
restricted to the work mentioned in the agreement / contract
signed
Cannot indulge
in commercial / trading activities
|
Activity is
restricted to the promotion of product(s), provision of technical
advise and assistance, exploring the possibility of joint
collaboration and export promotion (these activities are to be
mentioned in the application)
Cannot undertake any commercial / trading activities |
|
MEETING EXPENSES |
All expenses
will be met out of funds transferred from abroad through normal
banking channel and converted to local currency account or
from the amounts received through execution of the agreement /
contract |
All expenses
will be met out of funds transferred from abroad through normal
banking channel and converted to local currency account |
|
REMITTANCE
FACILITY |
Remittance of
profits etc. is allowed subject to submission of information /
documents as required in terms of Para 13 Chapter XIV of the
Foreign Exchange Manual of SBP. |
No
remittance facility allowed |
|
HIRING OF
FOREIGN NATIONALS |
Employment of foreign nationals shall be made subject to the prior
approval of the Government as per policy and in accordance with
the policy of Pakistanization. |
Employment of foreign nationals shall be made subject to the prior
approval of the Government as per policy and in accordance with
the policy of Pakistanization |
|
IMPORT AND
EXPORT OF MACHINERY |
Import / Export
of machinery and equipment and its re-export shall be governed by
the Import / Export policies of the Government |
Nil |
|
REGISTRATION
WITH SECP |
Mandatory |
Mandatory |
|
FINALIZATION OF
CASE |
6-8 weeks;
however, 3 months provisional permission can be granted on the
request of the company |
6-8
weeks; however, 3 months provisional permission can be granted on
the request of the company |
|
PERIOD OF
PERMISSION |
3-5
years; renewable |
3-5
years; renewable |
|
DOCUMENTS
REQUIRED |
Six sets of the
following documents are required:
1.
Application form
2.
Copy
of registration of the foreign company duly attested by Pakistan
Mission
3.
Copy
of Articles and Memorandum of Association
4.
Copy of
agreement / contract in case of Branch Office
5.
Copy of Company Profile
6.
Copy of Resolution / Authority letter of the
company to establish branch office in
Pakistan.
|
Six sets of the
following documents are required:
1.
Application form
2.
Copy
of registration of the foreign company duly attested by Pakistan
Mission
3.
Copy
of Articles and Memorandum of Association
4.
Copy
of Company Profile
5.
Copy
of Resolution / Authority letter of the company to establish
liaison office in
Pakistan
|
|
RENEWAL |
Following
documents are required:
1.
Copies
of valid agreements / contracts along with their duration
2.
Income
tax returns (for the last 3 years)
3.
Copy
of latest Audited Accounts
4.
Proceeds Realization Certificates
|
Following
documents are required:
1.
Activity report
2.
Receipt and Payment Statement
3.
Proceeds Realization Certificates
|
|
TAX TREATMENT |
The corporate
tax rate of 35% applies
|
Nil |
|
CHANGE OF
ADDRESS / TELE ETC. |
Has to be
intimated to the Board of Investment and other concerned quarters
|
Has to be
intimated to the Board of Investment and other concerned quarters |
|
DOCUMENTS
REQUIRED FOR CLOSURE |
The following
documents are required:
1.
Request letter for closure
2.
Activity Report, Proceeds Realization Certificates, and Audited
Accounts for the last permitted period
3.
Copies
of press clippings regarding closure
4.
Confirmation from tax authorities that all assessments and
dues are clear. |
The following
documents are required:
1.
Request letter for closure
2.
Activity Report, Proceeds Realization Certificates, and Receipt
and Payment Statement for the last permitted period
3.
Copies
of press clippings regarding closure
4.
Confirmation from tax authorities that all dues are clear. |
