Incorporation of an NBFC and Grant of License as an Asset Management Company
The Asset Management Company(AMC) is a Non-Banking Finance Company(“NBFC”) licensed by the Securities and Exchange Commission of Pakistan (“SECP”) to carry out Asset Management in accordance with Part VIII-A of the Companies Ordinance, 1984 (the “Ordinance”) and the NBFC & NE Regulations, 2008 (the “Regulations”). AMC shall be incorporated under the Ordinance read with the provisions of the NBFC Rules, 2003 (the “Rules”).
Following is the suggested chronological methodology for incorporation of an NBFC and licensing as AMC.
NOC for Formation of NBFC
Application to Specialized Companies Division, SECP Headquarter Islamabad for obtaining permission to form an NBFC along with the following documents:
- Form I of the Rules along with all relevant supporting documents
- Fee with Form I (as per Schedule II of the Regulations)
Incorporation of NBFC
Incorporation of an NBFC as a public limited company, at the concerned Company Registration Office, as per the existing procedures, forms and fees.
Licensing as AMC
Application to Specialized Companies Division, SECP Headquarter Islamabad for grant of license for to carry out Asset Management Services
- Form II of the Rules along with all relevant supporting documents
- Fee with Form II (as per Schedule II of the Regulations)
The information contained on this page is for general guidance on formation of a Non-Banking Finance Company and grant of license as AMC. Accordingly, the information on this page is provided with the understanding that the Securities and Exchange Commission of Pakistan is not herein engaged in rendering legal or otherwise professional advice and services. All information on this page is provided “as is”, with no assurance of any kind, express or implied, including, but not limited to assurance of providing a permission to form a NBFC and a license to carry out any one or more of the following forms of business in accordance with Part VIII-A of the Companies Ordinance, 1984. In no event will the Commission or its officers be liable to you or anyone else for any decision made or action taken in reliance on the information contained on this page or for any consequential damage.