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 needed to obtain separate incorporation certificates from several agencies, causing hassle and adding to the cost and time.

After: Joint incorporation certificate by 7 agencies is issued electronically in one day, with QR code for verification.

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.

Was this information helpful?