SECP has Introduced Single Digital Registration Certification System for Registration with 06 Other Departments |
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Reform ID | F033 | |
Reform Description | Single Digital Registration Certificate for 7 agencies through SECP’s e-services portal.
Before: New companies were required to obtain separate incorporation certificates from several agencies, causing hassle and adding to the cost and time. After: Joint incorporation certificate by 07 agencies is issued electronically in one day, with QR code for verification. |
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Sector | All Sectors | |
Beneficiaries | Limited Liability Company (LLC) | |
Jurisdiction/Location | Federal, Sindh, and Punjab | |
Department | SECP, PESSI, SESSI, Labour & Human Resource Departments and Excise & Taxation Departments of Punjab and Sindh | |
Date of Implementation | 27-04-2021 | |
Details | Difficulty | ● Separate/physical incorporation certificates were required to be obtained from all relevant agencies (7 agencies). The whole process took more than a week to complete. |
Analysis | ● As data exchange arrangements between SECP and 8 departments of federal and provincial governments already existed, it was possible to issue registration certificates simultaneously. | |
Solution |
● After discussion between SECP and other departments an agreement was reached to issue a joint incorporation certificate, which was finally implemented in April, 2021. | |
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