SECP has Introduced Single Digital Registration Certification System for Registration with 06 Other Departments
|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.
|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.|
|● 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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