The Securities and Exchange Commission of Pakistan (SECP) has considerably increased the fees for the registration of small companies whose nominal share capital does not exceed Rs. 100,000. In this regard, The SECP has amended the Seventh Schedule (fee paid by companies) of the Companies Act, 2017 through an SRO 500 (I)/2023.
SECP’s Process of Charging for the Registration of Small Companies
Initially, SECP was charging a fee of Rs 1,100 for the submission of documents electronically and a fee of Rs 2,200 for the submission of documents in physical form for registration of companies whose nominal share capital does not exceed Rs 100,000. But, with the recent amendment, the SECP will now charge Rs. 2,200 for the submission of documents electronically and a fee of Rs. 5,000 for the submission of documents in physical form for registration of companies whose nominal share capital does not exceed Rs. 100,000.
The SECP has also raised fees for companies established outside Pakistan but have a place of business in Pakistan. Within the said category, the SECP will charge a fee of Rs 11,000 for the electronic submission of documents, while Rs 15,000 will be charged for the manual submission of documents including; filing, registering, or recording any document notifying particulars relating to a mortgage or charge or pledge or other interest created by a company.
Fee Structure for Other Companies
For the registration of a company whose nominal share capital exceeds 100,000 rupees, the SECP will be charging an additional fee that will be determined according to the amount of nominal share capital as follows:
1. For every Rs. 100,000 of nominal share capital or part of Rs. 100,000, up to Rs. 5,000,000,000, a fee of Rs. 700 would be charged both for the submission of documents manually and electronically.
2. For every Rs. 100,000 of nominal share capital or part of Rs. 100,000 after the first Rs. 5,000,000,000, up to any amount of fee of Rs. 165 would be collected both for the submission of documents manually and electronically.
Also read: SECP Warns NBFCs of Penalties Against Teaming Up With Unauthorized Digital Lending Apps
