Regulation 19 — Additional requirements for foreign subscribers and security clearance

(1) In
case the subscriber is a foreign company or a foreign body corporate, the registrar shall require
additional information including but not limited to the profile of the foreign company or foreign body
corporate including detail of its directors, their nationality and country of origin along with copy of
passport, latest return/any other document showing particulars of directors, copy of its charter, statute
or memorandum and articles, copy of the certificate of incorporation, Board resolution by the foreign
company for appointment of nominee and authorization to acquire shares in the proposed company,
an undertaking on the specified format as per Annexure-S duly attested by notary public, etc.:
Provided that the copy of the certificate of incorporation, any charter, statute,
memorandum, articles or other instrument, constituting or defining the constitution of a foreign
company or a foreign body corporate and board resolution, undertaking (if executed outside Pakistan)
required to be filed with the registrar shall be duly –

(i) certified to be a true copy by the public officer in the country where the foreign
company or foreign body corporate is incorporated to whose custody the original is
committed; or
(ii) certified to be a true copy by a Notary public of the country where the foreign company
or foreign body corporate is incorporated; or
(iii) certified to be a true copy of an affidavit from an authorized officer of the foreign
company or foreign body corporate in the country where the company is incorporated
or;
(iv) apostillised by the designated competent authority of the state of origin of the foreign
public document, who have acceded to the Hague Convention abolishing the
requirement of legalisation for foreign public documents (Apostille Convention) of
1961 and such state is also recognized by the Government of Pakistan for receiving of
apostillised documents:
Provided further that the signature and seal of the official referred to in clause (i) or the
certificate of the Notary Public referred to in clause (ii) above shall be authenticated by a Pakistan
diplomatic consular or consulate officer and the affidavit of the officer of the foreign company or
foreign body corporate referred to in clause (ii i) above shall be signed before a Pakistan diplomatic
consular or consulate officer.
(2) In case the subscriber to the memorandum is an individual of foreign nationality, the
registrar shall require five sets of copies of bio data , valid passport and an un dertaking (in original)
on the specified format as per Annexure-S duly attested by notary public in the country of stay of
the foreigner. Moreover, the registrar may also require to file the additional documents as deemed
necessary.
(3) The Commission shall obtain security clearance from Ministry of Interior in following
cases and in the manner prescribed hereunder:
(i) companies having foreign (other than Indian national or origin) subscribers/officers
will be incorporated on the basis of an undertaking of each foreign subscriber /officer
and case shall be forwarded for security clearance:
Provided that in case, name of subscriber/officer is not security cleared by Ministry of
Interior, the subscriber/officer and the company, shall take immediate steps for
replacement and shall transfer shares if any, held by the subscriber;
(ii) companies having foreign subscribers/officers /foreign subscriber companies/board
of directors of foreign subscriber companies who are Indian national or of Indian
Origin will be incorporated after receipt of security clearance;

(iii) security services and matrimonial services providing companies will be incorporated
after receipt of security clearance from Ministry of Interior (“MOI”) and as per policy
formulated by MOI from time to time.
(4) The manner of security clearance shall be subject to any change in the security policy
of government from time to time.

CHAPTER IV
PROVISIONS RELATED TO FOREIGN COMPANIES