IMPORTS & EXPORTS
To enter into an import or export enterprise an individual must follow the following steps, later I will discuss these in detail:
- Registration at Corporate Law Authority
- Membership with of Chamber of Commerce/association
- NIT # must be obtained from Income Tax Authorities
- Affidavit of not a government servant/ not been black listed
- Submit a photo copy of NID along with the documents
- Company must have a foreign currency account in any bank
- The individual/company must have registered at EPB
- The exporter/importer should have some party in contact
CLA Registration
There are three types of business, namely, Proprietorship, Partnership or firm, and Corporations. The firms are registered at the office of Registrar of Firms, where as the companies are registered at the office of CLA. Depending upon the ownership and capital structure the companies can be classified as private limited or public limited.
Before a company gets into the business of import or export it must be registered at CLA. For this purpose an application along with all necessary documents is submitted to CLA. The necessary data must include:
- The company’s name
- Initial board of directors
- Number of shares
- Address of company’s office
- The capital structure
- Number of directors
The CLA will process the application and after approval it will issue a Certificate of Incorporation, under section 32 of Companies Ordinance 1984 (XL VII of 1984). Firms registered at Registrar Office are issued form ‘C’ on their registration.
CHAMBER OF COMMERCE
It is essential for an importer/exporter to be member of some recognized chamber or association. Normally the importer or exporter is member of Chamber of Commerce, however, membership of other chambers or associations like APTMA, APBUMA, etc. is also acceptable. The importer/exporter applies for membership along with admission fee of Rs.100 and annual subscription. After the serenity the chamber or association issues a membership certificate.
The following information is required to be given along with application.
- Name of individual or firm & Address
- Name of directors or partners
- Particulars of business
- Import or export registration number
- National Tax Number
- Bank certificate (photo copy)
- National Identity Card copy
- Photo copy of form C from registrar
