Opening a company account in Pakistan typically requires the following documents and information:
- Incorporation certificate: This is a legal document issued by the Securities and Exchange Commission of Pakistan (SECP) that serves as proof of the registration of the company.
- Memorandum of Association (MOA) and Articles of Association (AOA): These documents set out the company’s purpose, powers, and rules.
- National Tax Number (NTN) and Sales Tax Registration Number (STRN): These numbers are issued by the Federal Board of Revenue (FBR) and are required for businesses that are engaged in taxable activities.
- National Identity Card (NIC) or Form-B of the company’s directors: These documents are required for identification purposes.
- Utility bill (electricity, gas or water) for the company’s registered address: This is required as proof of address.
- Board Resolution: A resolution passed by the Board of Directors of the company, authorizing an individual/persons to open a bank account and conduct transactions on behalf of the company.
- Initial deposit: Some banks may require an initial deposit to open a company account.
- Referee: An individual who has a good banking history with the bank, who can vouch for the company’s financial standing.
It’s important to note that different banks may have different requirements and it’s best to check with the specific bank where you wish to open the account. It’s also important to note that laws, regulations and procedures may change and it is recommended to consult with a professional or relevant authorities before taking any action.
Overall, opening a company account in Pakistan typically requires the incorporation certificate, MOA and AOA, NTN and STRN, NIC or Form-B of the company’s directors, utility bill, Board Resolution, initial deposit, and referee. The specific requirements may vary depending on the bank.