Starting a money exchange company in Pakistan involves several steps and requires various documents and approvals from government authorities. The process can be time-consuming and complex, so it is recommended to seek the help of a professional such as a lawyer or chartered accountant.
Here is a general overview of the steps involved in registering a money exchange company in Pakistan:
- Choose a unique name for the company and ensure that it complies with the relevant laws and regulations.
- Obtain a National Tax Number (NTN) and a Sales Tax Registration Number (STRN) from the Federal Board of Revenue (FBR).
- Prepare the company’s Memorandum of Association (MOA) and Articles of Association (AOA). These documents set out the company’s purpose, powers, and rules.
- File the MOA and AOA with the Securities and Exchange Commission of Pakistan (SECP) along with other required documents such as the certificate of incorporation and the list of directors.
- Obtain the certificate of incorporation from the SECP.
- Register for GST with the Federal Board of Revenue (FBR).
- Register for income tax with the Federal Board of Revenue (FBR).
- Obtain a trade license from the relevant local government authority.
- Register with the State Bank of Pakistan (SBP) as a money changer or exchange company.
- Obtain a money changer license from the SBP
- Obtain a digital signature certificate (DSC) for the company’s directors from the National Telecommunication Corporation (NTC) or any other authorized agency.
- Obtain a .pk domain name for your company’s website from Pakistan Network Information Center (PKNIC).
- Obtain a liability insurance for your company
It’s 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.
Starting a money exchange company in Pakistan is a process that involves obtaining a certificate of incorporation from the Securities and Exchange Commission of Pakistan (SECP), registering with the Federal Board of Revenue (FBR) and obtaining a trade license from the relevant local government authority. The company must also register with the State Bank of Pakistan (SBP) as a money changer or exchange company and obtain a money changer license. It is also important to have a .pk domain name for your company’s website, obtain a liability insurance and comply with other regulations set by the government.