Regulatory Alerts2026-06-03
Added · Updated
Circular No. 10 of 2026 – Licensing and Allied Applications with Sponsors/ Directors as Foreign individuals/ Entities
The Securities and Exchange Commission of Pakistan amends Circular No. 12 dated August 31, 2023, by omitting the clause that mandated prior security clearance from the Ministry of Interior for licensing applications involving foreign sponsors, directors, or shareholders. This change removes the requirement for such clearance for companies with specified activities where foreign nationals or entities are involved in the board or shareholding composition. The amendment applies to all license applications and subsequent changes in board or shareholder composition under the relevant provisions of the Companies Ordinance, 1984. The circular comes into force with immediate effect.
SECURITIES AND EXCHANGE COMMISSION OF PAKISTAN
Licensing and Registration Division
Licensing Department
No. LRD/LD/Circular/ /2026
Circular No. 10 of 2026
Islamabad, June 02, 2026
SUBJECT: LICENSING AND ALLIED APPLICATIONS WITH SPONSORS/DIRECTORS AS FOREIGN INDIVIDUALS/ENTITIES
In exercise of the powers conferred under sub-section (3) of section 282B of Part VIII-A of the Companies Ordinance, 1984 (XLVII of 1984), the Securities and Exchange Commission of Pakistan, in continuation of Circular No. 12 dated August 31, 2023, is pleased to make the following amendment in the said Circular, namely:
(2) In the aforesaid Circular, the following clause (b) shall be omitted, namely:
“(b) As of the date of this Circular, all applications for license or any subsequent changes in the composition of the board/shareholders of the companies with above stated activities, wherein sponsors/director/shareholder are foreign nationals/foreign entities, shall only be granted/allowed upon receipt of requisite prior security clearance from Ministry of Interior, Government of Pakistan.”
(3) This Circular shall come into force with immediate effect.
Muzzafar Ahmed Mirza
Commissioner
(Licensing & Registration Division)
NIC Building, 63-Jinnah Avenue, Islamabad Website: www.secp.gov.pk