FAQ’s

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FAQ’s2019-11-25T11:37:52+05:00
What is eServices and how to access the eServices?2019-11-25T11:17:45+05:00

e-Services is a 24/7 available portal developed by SECP to facilitate the users in reservation of name, incorporation of companies, filing of specified forms and related documents required under the Companies Ordinance, 1984 and the Rules and Regulations being administered by SECP, in electronic form to the Registrar of Companies for registration. eServices can be accessed through SECP’s website at www.secp.gov.pk.

What are the benefits of using eServices?2019-11-25T11:17:16+05:00

Following are the benefits of using e-Services instead of physical filing:

  1. Simple and hassle-free procedure to create account on e-Services
  2. Accessible  24/7 from anywhere in the world
  3. Lower fee compared to physical submission of documents
  4. No need to visit Company Registration Offices (CROs)
Which equipment is required for using e-Services?2019-11-25T11:19:27+05:00

A personal computer equipped with a web browser and internet access, preferably broadband connection.

Is the Promoters’ Guide available on the SECP website?2019-11-25T11:20:22+05:00

Yes, the Promoters’ Guide is available on the SECP website at https://www.secp.gov.pk/wp-content/uploads/2017/04/Promoters-Guide.docx

How can I get help on eServices?2019-11-25T11:20:56+05:00

For eServices assistance, you can email your query to the help desk at “helpdesk.eservices@secp.gov.pk”. You can also call the Service Desk at UAN: 111-117-327.

How can we submit Forms/Returns by using eServices?2019-11-25T11:23:32+05:00

The general steps of the process are given below. Procedure may vary slightly depending on the kind of process selected by you.

  • Sign up using the user registration procedure referred above.
  • After successful user registration in e-services, login to eServices through SECP’s website https://eservices.secp.gov.pk/eServices/ using CNIC/NICOP/POC/Passport no. as Login ID and the entering the Password.
  • Upon successful login, list of all companies related with user are displayed.
  • Click “login” appearing after the relevant company
  • The list of all available processes will be displayed.
  • Click the relevant process.
  • Fill out the data and click “Continue” button, which will display the screen where “Sign form” option is available.
  • Attach the required document(s), if any.
  • Open and Save Challan Form which is automatically generated through the System. Do not print Challan at this stage.
  • Click “Sign form”. Please note that sign form link will be activated when once mandatory attachments are made to the process and challan is saved.
  • Enter the PIN and click “Apply user PIN”, the field for “PIN APPLIED” will be auto-populated and on clicking “Submit process to SECP” button, process will be submitted to SECP.
  • After your process is submitted, you will see a submitted process reference number on the screen. Please print a copy of this page for future reference.
  • Print the Challan from “Submitted Processes” link available on the left side of the page and pay this Challan in the designated branch of MCB/UBL.
  • In case of payment through credit card, please click on “online payment’ link and follow procedure.
  • In case of payment thorough online fund transfer facility, please follow the procedure given in the “online fund transfer guide” available on the website at https://eservices.secp.gov.pk/eServices/

 

After you have submitted the process and made payment, your process will be assigned to the concerned officer for processing after verification of payment. You will receive an email conveying the status of your case whether it is accepted, rejected or further information is required for issue resolution.

Please note that the Filing of Returns cases are processed at the concerned Company Registration Office (CRO).

How can I get Challan form for online filing in eServices?2019-11-25T11:24:32+05:00

Challan form is automatically generated and filled out by the System after you enter the required information in the application/form. You have to save and print this challan and make payment in the designated branch. Do not use a manual challan for making payment for online filing.

Why the Sign Forms link is not active/clickable?2019-11-25T11:25:21+05:00

Please note that sign form link will be activated when once mandatory attachments are made to the process and challan is saved.

Why am I getting an error while trying to Sign Forms?2019-11-25T11:26:16+05:00

Major reasons why you get an error while signing forms are as follows:

  1. The size of files e.g. Memorandum and Articles of Association attached by you is large. File size for each of these documents should not exceed 2 MB. You can reduce file size by keeping low resolution while scanning documents.
  2. Another reason might be that you are trying to sign forms for all persons from one login. You have to login through each User ID to sign forms.
  3. Compatibility view is not enabled in Internet Explorer. Please add SECP website to Compatibility View under Tools> Compatibility View Settings.
  4. Security Settings for java are not set as per requirement.
If I login and find out that the data in the system is not updated for my company, then how do I get that data rectified in the system?2019-11-25T11:27:06+05:00

Contact the concerned Company Registration Office (CRO) for further assistance/information in the matter.

Is it compulsory for the existing and new companies to obtain/create User ID, Password and Personal Identification Number (PIN) under new user registration system of eServices?2019-11-25T11:29:26+05:00

Yes, it is compulsory to obtain/create User ID, Password and PIN for using eServices.

Who can register as a user of the e-Services?2019-11-25T11:30:11+05:00

Any person can register as an Individual User. This may include a director / chief executive/ company secretary /authorized representative / manager of a company who is a natural person and is authorized to sign documents electronically on behalf of the company. An Intermediary / Consultant can also register as a user of the e-Services.

How to apply for user registration and what is the user registration fee?2019-11-25T11:30:49+05:00

Online user registration is available at e-Services at www.secp.gov.pk, for which Rs. 100/- only will be charged subsequently at the time of submission of documents.  Please refer to User Registration Step by Step Process.

What are the requirements for user registration?2019-11-25T11:31:37+05:00

For Individual (National): CNIC/NICOP/POC, Mobile number & Email address.

For Individual (Foreign National): Attested copy of valid passport, attested photograph, Mobile number & Email address.

How can I recover forgotten Password or reset PIN?2019-11-25T11:33:01+05:00

You can make use of the “Forget Login Information” function provided on the login page of the e-Services. You have to provide information of your identification to enable the system to retrieve your Login information.

In case you forgot your password, you have to provide the Answer to your selected Security Question to enable the system to verify your identity. The system will reset your password after successful verification. The system-generated Password/PIN will be sent to your registered email address and mobile phone number automatically by the system.

What are the Terms of Use of e-Services?2019-11-25T11:34:21+05:00

Following are the terms of use of e-services for information security:

 

  1. Use of logins-

 

  • Your login information is a valuable and confidential item that authenticates your online identity. You must, therefore, take good care of your login information/ PIN, as well as the security questions you choose when creating a login, and keep them secure.

 

  • You will not knowingly or recklessly use or attempt to use any service, login, hardware device or code for a purpose for which it was not intended, including any unlawful purpose.

 

  • You will notify the SECP Help Desk immediately if you know or have reason to believe that there has been or is about to be fraudulent or other unlawful use of any of your login, hardware device or code.

 

  1. Protecting logins, security questions and PIN

 

You must immediately change your password, security questions, or PIN and notify the SECP Help Desk if you believe that the security of your password, security questions which you answered, or PIN you created have been compromised or you become aware of any unauthorised use of your username or password.

 

  1. Recommended practices

 

You should

  • not use an email address that is shared with other people (as it is to this email address that your username, temporary password or other information will be sent when you request support for your login, for example when you forget your username or password);
  • choose a password that is a secret known only to you which cannot be easily guessed by anyone else;
  • not disclose your password to anyone, including SECP services personnel (please note that SECP services personnel will never ask you for your password or PIN);
  • keep your password and PIN safe from being discovered by others if you write your password or PIN down or store them electronically (unencrypted files on a computer or notes on your monitor are not safe options);
  • take care when answering your security questions to ensure you can remember the answers at a later date;
  • not tell anyone your answers to the security questions, other than services personnel when they require those answers to help you;
  • not allow anyone to see your password, any of your answers to the security questions, or PIN or have the opportunity to see them or record them;
  • not use an app other than system-generated codes as they have not been tested for compatibility or security; and
  • Keep your contact details up to date.
How can we reserve name for a new company by using eServices?2019-11-25T12:06:01+05:00

Please follow the procedure given below to reserve name for a new company by using eServices:

  • Sign up and generate PIN using the user registration procedure referred above.
  • After successful user registration in e-services, login to eServices through SECP’s website https://eservices.secp.gov.pk/eServices/ using CNIC/NICOP/POC/Passport No. as Login ID and the entering the Password.
  • Upon successful login, all available processes will be displayed.
  • Click on name reservation process.
  • Fill in the requisite data and click “Continue” button which will display the screen where “Sign form” option is available.
  • Open and Save Challan Form which is automatically generated through the System. Do not print Challan at this stage.
  • Click “Sign form”. Please note that sign form link will be activated when once mandatory attachments are made to the process and challan is saved.
  • Enter the PIN and click “Apply user PIN”, the field for “PIN APPLIED” will be auto-populated and by clicking “Submit process to SECP” button, process will be submitted to SECP.
  • Print the Challan from “Submitted Processes” link available on the left side of the page and pay this Challan in the designated branch of MCB/UBL.
  • In case of payment through credit card, please click on “online payment’ link and follow procedure.
  • In case of payment thorough online fund transfer facility, please follow the procedure given in the “online fund transfer guide” available on the website at https://eservices.secp.gov.pk/eServices/.

 

After you have submitted the process and made payment, your process will be assigned to the concerned officer for processing after verification of payment. You will receive an email letting you know about the status of your case whether it is accepted, rejected or further information is required for issue resolution.

Please note that Name Availability Cases are processed at the concerned Company Registration Office (CRO). Contact list of CROs is below. You may also consult the User Guide available on the SECP website at http://www.secp.gov.pk/eservices/eservies-company-name-reservation/ for further assistance.

 

 No.  CRO Office  Telephone

 

1 Karachi4th Floor, SLIC Building No.2,

Wallace Road, Karachi.

Email: mohammad.naeem@secp.gov.pk

Phone: 021- 99213271-2Fax 021-99213278

 

2 Lahore3rd &4th Floor, Associated House,

7-Egerton Road, Lahore

Email: liaqat.dolla@secp.gov.pk

Phone: 042-99204962-6Fax: 042-99202044

 

3 IslamabadState Life Building, 7-Blue Area,

Islamabad

Email:  shahzad.afzal@secp.gov.pk

Phone: 051-9208740-9206219Fax: 051-9206893

 

4 Peshawar1st Floor, State Life Building, The Mall, Peshawar Cantt.

Email: saqib.aslam@secp.gov.pk

Phone: 091-9213178Fax: 091-9213686
5 FaisalabadSecond Floor, Faisalabad Chamber of Commerce and Industry (FCCI) Building, East Canal Road, Faisalabad.

Email: asghar.baig@secp.gov.pk

Phone: 041-9230264Fax: 041-9230263

 

6 Multan63-A, 2nd Floor, Nawa-i-Waqt Building, Abdali Road, Multan

Email: iftikhar.hasan@secp.gov.pk

Phone: 061-9200530Fax: 061-9200920
7 QuettaGround Floor, Aiwan-e-Mashriq Building, Opposite FC Headquarter,
Shara-e-Hali, Quetta

Email:  msami@secp.gov.pk

Phone:081-2844136
Fax: 081-2899134
8 Sukkur28 – D , Hamdard Housing Society,

Airport Road, Sukkur

Email:  iftikhar.hasan@secp.gov.pk

Phone: 071-5630517Fax: 071-5633757
9. GilgitHouse No. 2, Ayub Colony,

Near Apna Bank,

Gilgit

Email: shahzad.afzal@secp.gov.pk

Phone: 05811-922572 
How can we incorporate a new company by using eServices?2019-11-25T12:08:27+05:00

Please follow the procedure given below for company registration using e-Services:

  • Sign up using the user registration procedure referred above.
  • Create/Obtain separate User IDs and PIN for all proposed Subscribers.
  • After successful user registration in e-services, login to eServices through SECP’s website https://eservices.secp.gov.pk/eServices/ using CNIC/NICOP/POC/Passport no. as Login ID and the entering the Password.
  • Upon successful login, all available processes will be displayed.
  • Click on Company registration process.
  • Fill out the data and click “Continue” button, which will display the screen where “Sign form” option is available.
  • Attach and Save Memorandum of Association in the attachment link provided. Please note that the attachment size should not exceed 2 MB.
  • Attach and Save Articles of Association in the attachment link provided. Please note that the attachment size should not exceed 2 MB.
  • Attach and Save copies of CNICs/passports of all the Subscribers, copy of name availability email/letter, and any other required document(s) under Fill New Attachment Form link.
  • Open and Save Challan Form which is automatically generated through the System. Do not print Challan at this stage.
  • Click “Sign form”. Please note that sign form link will be activated when once mandatory attachments are made to the process and challan is saved.
  • Enter the PIN and click “Apply user PIN”, the field for “PIN APPLIED” will be auto-populated and on clicking “Submit process to SECP” button, process will be submitted to SECP. Every Subscriber needs to sign forms by logging through his/her User ID and applying PIN.
  • After your process is submitted, you will see a submitted process reference number on the screen. Please print a copy of this page for future reference.
  • Print the Challan from “Submitted Processes” link available on the left side of the page and pay this Challan in the designated branch of MCB/UBL.
  • In case of payment through credit card, please click on “online payment’ link and follow procedure.
  • In case of payment thorough online fund transfer facility, please follow the procedure given in the “online fund transfer guide” available on the website at https://eservices.secp.gov.pk/eServices/

 

After you have submitted the process and made payment, your process will be assigned to the concerned officer for processing after verification of payment. You will receive an email conveying the status of your case whether it is accepted, rejected or further information is required for issue resolution.

Please note that Company Incorporation Cases are processed at the concerned Company Registration Office (CRO). You may also consult the User Guide on the SECP website at http://www.secp.gov.pk/eservices/company-incorporation/ for further assistance.

What are the international obligations concerning AML/CFT?2019-11-25T12:10:01+05:00

The United Nations through its Securities Council Resolution 1617 requires all UN Member States to implement FATF’s AML/CFT Recommendations. Pakistan is a member of UN and Asia Pacific Group (FATF Styled Regional Body) and therefore, is required to adopt FATF standards as per membership obligations.

What obligations are placed on RPs?2019-11-25T12:10:59+05:00

Basic obligations imposed on reporting entities include: i. Assessing the money laundering and financing of terrorism risk that it may reasonably expect to face in the course of its business; ii. Establishing, implementing and maintaining an AML/CFT programme (procedures, policies and controls) to detect, manage and mitigate the risk of money laundering and the financing of terrorism; iii. Customer due diligence (CDD) (identification and verification of identity) and ongoing CDD; iv. Suspicious transaction reporting; v. Record keeping. Reporting entities have considerable flexibility within the limits prescribed by Regulations, in how they meet their obligations.

What are the stages of Money Laundering?2019-11-25T12:11:47+05:00

There are three stages involved in money laundering:
1. Placement: involves placing the proceeds of crime in the financial system;
2. Layering: involves converting the proceeds of crime into another form and creating complex layers of financial transactions to disguise the audit trail and the source and ownership of funds (e.g., the buying and selling of stocks, commodities or property);
3. Integration: involves placing the laundered proceeds back in the economy under a veil of legitimacy.

How are the requirements of AML/CFT applicable on Financial Institutions regulated by the SECP when money is routed through banking channels?2019-11-25T12:12:36+05:00

Financial institutions means any natural or legal person who conducts as a business one or more of the following activities or operations for or on behalf of a customer:
i. Acceptance of deposits and other repayable funds from the public;
ii. Lending;
iii. Financial leasing;
iv. Money or value transfer services;
v. Issuing and managing means of payment (e.g. credit and debit cards, cheques, traveller’s cheques, money orders and bankers’ drafts, electronic money);
vi. Financial guarantees and commitments;
vii. Trading in:
a. money market instruments (cheques, bills, certificates of deposit, derivatives etc.);
b. foreign exchange;
c. exchange, interest rate and index instruments;

d. transferable securities;
e. commodity futures trading.
viii. Participation in securities issues and the provision of financial services related to such issues;
ix. Individual and collective portfolio management;
x. Safekeeping and administration of cash or liquid securities on behalf of other persons;
xi. Otherwise investing, administering or managing funds or money on behalf of other persons;
xii. Underwriting and placement of life insurance and other investment related insurance;
xiii. Money and currency changing.
The risk of money laundering in Non-Bank Financial Institutions (NBFIs) may not lie in the placement stage but rather in the layering and integration stages of money laundering. The National Risk Assessment has highlighted the vulnerabilities and threats in terms of both money laundering and terrorist financing in these sectors. Accordingly, NBFI is obliged to comply with FATF recommendations even if money is routed thorough the banking channel.

Are non-deposit taking financial institution exempt from the compliance of AML/CFT requirements?2019-11-25T12:13:20+05:00

No. The definition of Financial Institution includes lending business activity. Therefore, the Non-deposit taking financial institutions are required to comply with AML/CFT Regulations, 2018 in the same manner as applicable to the other Non-Banking Financial sector institutions.

What is a risk assessment?2019-11-25T12:14:07+05:00

Reporting entities are required to assess the money laundering and financing of terrorism risk that they may reasonably expect to face in the course of their business. In making this assessment, the reporting entity is required to consider:
i. Nature, size and complexity of its business;
ii. Products and services it offers;
iii. Methods by which it delivers products and services to its customers;
iv. Types of customers it deals with;
v. Countries it deals with;
vi. Institutions it deals with;
vii. Any guidance material produced by supervisors;
viii. Any other factors that are set out in regulations.
Reporting entities also need to consider whether any of their products involve new or developing technologies that may favour customer anonymity.

How is customer risk assessment different from entity risk assessment?2019-11-25T12:15:05+05:00

Risk assessment is the identification and assessment of ML/TF risk faced by the regulated person in relation to the jurisdictions or countries its customers are from or in; the jurisdictions or countries the regulated person has operations or dealings in and products, services, transactions and
delivery channels of the regulated person. Whereas KYC/CDD measures determine the risk profile of the customer only. Customers’ risk profiling is one of the facet used in the entity risk assessment.

What is risk-based approach in AML/CFT compliance?2019-11-25T12:15:49+05:00

Risk Based Approach means that financial institutions identify, assess, and understand the money laundering and terrorist financing risks to which the financial institution is exposed and implement the most appropriate mitigation measures. This approach enables financial institutions to focus their resources where the risks are higher.

What is an AML/CFT programme?2019-11-25T12:16:43+05:00

An AML/CFT programme sets out a reporting entity’s internal policies, procedures and controls to detect money laundering and financing of terrorism and to manage and mitigate the risk of it occurring. The programme must be in writing and be based on its risk assessment. Certain elements of a programme are specifically required by the Regulations, including: i. Vetting senior managers and AML staff; ii. Training senior managers and AML staff; iii. Customer due diligence, including enhanced CDD and simplified CDD; iv. Reporting suspicious transactions; v. Monitoring and record keeping; vi. Monitoring and managing compliance with the AML/CFT programme. Risk-based systems and controls should be based on the nature, size and complexity of a reporting entity’s business, along with any money laundering and financing of terrorism risks it may face.

Can head of Internal Audit perform the role of Compliance Officer?2019-11-25T12:17:32+05:00

No. The regulated person should establish the three lines of defense to combat ML/TF namely Business Units, Compliance Officer and Internal Audit. Therefore, the scope of responsibilities will vary between compliance officer and internal audit functions. However, dual hatting is allowed for the role of Compliance Officer.

How is customer risk rating linked with CDD measures?2019-11-25T12:18:09+05:00

Customer risk rating (High, Low) is assigned based on ML/TF risk posed by each relevant factor (Customer, Geography, Product and Transaction Risk), whereas the level of due diligence (Simplified or Enhanced) is determined based on the ML/TF risk posed by the customer.