Fast business set up solutions in Pakistan

If multi-national Clients’ appoint their preferred foreign directors and shareholders, they will legally conduct business in Pakistan after 9 months (click link). For most of our Clients’, this is far too long;

Using Healy Consultants PLC fast business set up solution (click link), our multi-national Clients can expect to can legally conduct business in Pakistan within 1 month;

Using Healy Consultants Group PLC professional passive nominee directors and shareholders and bank signatory; within one month, we supply our multi-national Clients’ with i) a company registration number ii) a multi-currency corporate bank account number iii) a city center business address iv) a tax and business license number;

Within the following 4 months thereafter, we spend the time appointing our multi-national Clients’ preferred shareholders and directors and bank signatory; return legal control to our Client;

  • Compare and contrast business set up solutions

    Detailed comparison tableFast Nominee LLCNew LLC
    Our recommended strategy in order of preference12
    How soon can our Client legally issue invoices to customers?Within 1 monthAfter 9 months
    How soon can our Client legally sign legal contracts to customers?Within 1 monthAfter 9 months
    How soon can our Client lease permanent office premises and warehouse?Within 2 weeksWithin 7 months
    How soon can the companyy recruit local and expatriate staff?Within 3 weeksAfter 9 months
    How soon can we provide our Client a bank account number?Within 4 weeksWithin 9 months
    Estimated total cost of this engagement?US$36,160US$22,850
    Recommended paid up share capital to be injected?US$29,000US$29,000
    Physical office required to be leased during company registration?NoNo
    Each foreign director needs a Pakistan tax number?YesYes
    Each foreign director/bank account signatory needs a Pakistan residence visa?NoNo
    Can apply for import/export license?YesYes
    Can apply for regulatory license?YesYes
    Government approval required before legally conducting business?YesYes
    Estimated timeframe to change the corporate structure?4 monthsNone
    Total engagement period to finish the engagement5 months9 months
    Draft invoicePakistan fast setup invoicePakistan LLC invoice
  • Advantages and disadvantages of a fast company solution

    No.AdvantagesFast nominee LLCClient owned LLC
    1.Within 2 months, our multi-national Clients should expect to legally commence business operations in Pakistan;YesNo
    2.Our Clients will not be required to travel to Pakistan to complete company registration and corporate bank account opening;YesYes
    3.Our Client can recruit staff in Pakistan within 4 weeks;YesNo
    4.Government administrative tasks\delays are tackled after business set up, rather than before company registration;YesNo
    No.DisadvantagesFast nominee LLCClient owned LLC
    1.It is an expensive solution;YesNo
    2.It is necessary to spend 4 months changing the i) company name, ii) business activity iii) corporate structure and iv) bank account signatory;YesNo
    3.Government foreign investment approval still required?YesYes
    4.Government administrative tasks\delays are tackled after business set up, rather than before company registration.YesNo
  • Steps to register a fast nominee Solution

    No.StepsWeek
    1.     Healy Consultants PLC's Compliance Team receives the required corporate and personal due diligence (click link) information from our Client;1
    2.     Our Client signs Healy Consultants Group PLC engagement letter and returns the original to our Singapore Head office. Thereafter, our Client settles our fees;1
    3.     Our Client confirms by email the planned corporate structure and e-mails the required due diligence;1
    4.     For our Client, Healy Consultants Group PLC prepares a tailored detailed project plan (click link);1
    5.     Healy Consultants Group PLC supplies our Client due diligence re our temporary professional, passive nominee shareholders and directors and bank signatory;2
    6.     Healy Consultants Group PLC registers a national LLC with our temporary professional, passive nominee shareholders and directors and injects the paid-up share capital to a temporary multi-currency corporate bank account;2
    7.     The Pakistan bank supplies corporate bank account numbers to Healy Consultants Group PLC, while our nominees act as temporary bank signatory;2
    8.     Healy Consultants Group PLC registers our Client’s nominee Pakistan company for tax purposes;

    Our Client is legally allowed to commence business operations in Pakistan, sign sales contracts and issue customer invoices;

    3
    9.     If required, Healy Consultants Group PLC will apply for i) a specific regulatory license and ii) an import export license;3
    10.   Healy Consultants Group PLC emails our Client a template customer sales invoice complying with local commercial laws and includes i) a company name and number ii) a company office address and iii) a corporate bank account number and iv) a tax number. Our Client can legally conduct business in Iran;3
    11.   Healy Consultants Group PLC prepares and emails our Client the required documents to appoint them as directors and shareholders and bank signatory including i) the legal share allotment and legal share transfer ii) the change of company address and iii) the lease agreement in Iran (if required);4
    12.   Our Client reviews and signs the documents in front of the Pakistan Embassy at our Client's country of residence and courier return the same;4
    13.   Healy Consultants Group PLC and our Client attends a meeting with local branch of Pakistan bank to appoint our Client as the new bank signatory and submit the corporate bank package containing:

    • Signed appointment of bank signatory forms;
    • Client’s passport copy and proof of address;
    • Pakistan company kit;
    • Other Client due diligence.
    4
    14.   Following a review of the corporate bank account signatory change application, the bank(s) may revert to Healy Consultants for additional information. Healy Consultants and our Client provides the same in a timely manner;5
    15.   There is a 30% chance that the bank will ask the new bank signatory to travel for a one-hour interview. As always, Healy Consultants will aggressively negotiate for a travel exemption, asking the bank to just perform a Skype or phone conversation with the bank signatory. Depending on Client nationality, sometimes we are successful and our Client does not have to travel to Iran;6
    16.   The bank approves the appointment of the new bank signatory and will courier internet banking documents (login, password etc) to Healy Consultants PLC's office or to our Client directly. If sent to us, we will activate internet banking on our Client's behalf. It is important to note the bank account signatory change may take up to 6 weeks;7/8
    17.   Healy Consultants Group PLC submits the forms for changing the director and shareholder to the Securities and Exchange Commission of Pakistan (SECP);8
    18.   Following a review of the application, the SECP may revert to Healy Consultants PLC for additional information. Healy Consultants Group PLC and our Client provides the same in a timely manner;10
    19.   The SECP approves the application to appoint the new foreign shareholders and directors. Thereafter, the application is forwarded to the Ministry of Interior, Pakistan (MOI) for a security check;12
    20.   Meanwhile, Healy Consultants Group PLC submits an application to the SECP to amend the i) Certificate of Incorporation and ii) Articles of Association;13
    21.   The SECP issues the amended Articles of association, showing the new shareholder, company name, business activity and charter capital;15
    22.   MOI approves the appointment of the new foreign directors and shareholders.
    Immediately after, Healy Consultants Group PLC emails our Client i) amended Certificate of Incorporation and ii) new M&AA showing the appointment of the new foreign shareholders and directors;
    19
    23.   Healy Consultants Group PLC will courier the following to our Client:

    • Company kit containing original Pakistan corporate documents;
    • The banking kit;
    • Healy Consultants Customer Satisfaction Survey.
    20
    24.   Healy Consultants Group PLC successfully completes our Client's engagement.20
  • Conclusion

    1. If our multi-national Clients wish to legally conduct business as soon as practical, then I recommend the above fast business set up nominee solution;
    2. If our multi-national Clients wish to minimize business set up costs, I recommend registering a new LLC with your preferred corporate structure and bank signatory.

Contact us

For additional information on our fast business solution services in Pakistan, please email us at email@healyconsultants.com. Alternatively please contact our in-house country expert, Mr. Paavan Chhabra, directly:
client relationship officer - Paavan
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