Here are the steps for registration with the Pakistan Software Export Board (PSEB) along with the required documents:
To register a company with the Pakistan Software Export Board (PSEB), the first step is to register the company with the Securities and Exchange Commission of Pakistan (SECP) and obtain a certificate of incorporation. The following documents are required for company registration with the SECP:
- Memorandum and Articles of Association (MAA) of the company
Memorandum of Association (MOA)
The MOA is a legal document that defines the company’s scope of activities and sets out the objectives for which the company has been formed. It is one of the most important documents that need to be drafted while incorporating a company in Pakistan. Here are the steps for drafting the MOA:
- Define the Name and Registered Office of the Company
The first step in drafting the MOA is to define the name and registered office of the company. The name should be unique and not already registered with the SECP. The registered office should be located within Pakistan.
- Define the Objectives of the Company
The second step is to define the objectives of the company. The objectives should be clear, concise and specific to avoid any ambiguity. The MOA should also specify the nature of the business activities that the company will undertake.
- Define the Share Capital and Liability of the Members
The third step is to define the share capital and liability of the members. This section should specify the number of shares issued, their value and the rights attached to them. It should also specify the liability of the members in case the company is wound up.
- Form A1, which is the application for the availability of the company name
- Form A2, which is the application for the registration of the company
- Copy of CNIC or passport of directors and subscribers of the company
- Bank Challan for payment of registration fee
After submitting the required documents, the SECP will review the application and issue a certificate of incorporation upon approval.
It is important to note that prior to registering with the PSEB, a company must be registered with the SECP and have obtained an NTN and STRN from the Federal Board of Revenue (FBR). Additionally, it is necessary to open a separate bank account for export transactions, develop software products or services for export, and create a company website with complete information about products, services, and contact details. Once these steps are completed, the company can proceed with the PSEB registration process.
NTN and STRN Registration
After incorporation, you will need to register your company with the Federal Board of Revenue (FBR) for tax purposes. Following is a detailed overview of the procedure for registering with the tax authorities in Pakistan:
- Obtain National Tax Number (NTN) The first step in registering with the tax authorities is to obtain a National Tax Number (NTN) from the Federal Board of Revenue (FBR). You can obtain the NTN by submitting an application to the FBR online or through a designated branch of the National Bank of Pakistan.
- Obtain Sales Tax Registration Number (STRN) If your company is engaged in the supply of goods or services, you will need to obtain a Sales Tax Registration Number (STRN) from the FBR. The STRN can also be obtained through the same process as the NTN.
- Register for Withholding Tax If your company is required to deduct withholding tax on payments made to suppliers, contractors or employees, you will need to register for withholding tax with the FBR. This can be done online through the FBR’s e-portal or through a designated branch of the National Bank of Pakistan.
- Register for Professional Tax If your company employs professionals such as doctors, lawyers or engineers, you will need to register for professional tax with the relevant authority. The registration process and requirements may vary depending on the profession and the location of your company.
- Register for Provincial Taxes If your company operates in a province that imposes its own taxes such as the Punjab Sales Tax on Services Act, 2012 or the Sindh Sales Tax on Services Act, 2011, you will need to register for these taxes separately. The registration process and requirements may vary depending on the specific tax and the location of your company.
File Tax Returns Once your company is registered with the tax authorities, you will need to file tax returns on a regular basis. The frequency and deadlines for filing tax returns will depend on the type of tax and the location of your company.
Open a separate bank account for export transactions. Creating a bank account involves opening a financial account with a bank or other financial institution. The account can be used to store and manage funds, make payments, and receive deposits. The process of creating a bank account typically involves several steps, including:
- Choosing a bank: The first step in creating a bank account is to choose a bank or financial institution that meets your needs. Factors to consider include the bank’s reputation, fees, interest rates, and accessibility.
- Providing personal information: To open a bank account, you will typically need to provide personal information such as your full name, address, date of birth, and government-issued ID.
- Choosing an account type: Banks offer various types of accounts, such as checking accounts, savings accounts, and money market accounts. You will need to choose the account type that best meets your needs.
- Depositing funds: Once the account is created, you will need to deposit funds to start using the account. This can be done through various methods, such as wire transfer, direct deposit, or in-person deposit.
- Activating the account: Once the account is funded, it will be activated and ready to use. You will receive a debit card and checks, if applicable, to access the funds in the account.
Creating a bank account is a simple process, but it is important to choose a reputable and trustworthy bank to ensure the safety and security of your funds.
Website creation is the process of designing and building a website, which is a collection of web pages that are accessed through the internet. The process typically involves several steps, including planning, designing, development, testing, and deployment.
Once the website is complete, it can be deployed to a web server, making it accessible to internet users. A website can be created for various purposes, such as promoting a business, providing information, or selling products or services. A well-designed and optimized website can help to increase visibility, credibility, and engagement with users.
Software products and services for export refer to software applications and related services that are developed and marketed by companies in one country and sold to buyers in other countries. This includes a wide range of products and services, such as business software, mobile apps, cloud computing services, and IT consulting services. Successful export of software products and services requires businesses to understand international laws, adapt to cultural and linguistic differences, and effectively market and distribute their products and services in foreign markets.
PSEB Registration Form
Download and fill the PSEB Registration Form from the PSEB website.
Submit the following documents with the filled registration form:
- Copy of the SECP certificate of incorporation
- Copy of NTN and STRN certificates
- Bank maintenance certificate
- Company profile details
- CNIC of all Directors of the Company
- Website Link
Submit the filled registration form and required documents to the PSEB regional office or head office.
Payment of Registration Fee
|New Company Registration Charges|
|1||Registration fee for IT/ITeS companies operating from Karachi, Lahore, Islamabad, Rawalpindi, Peshawar, Faisalabad and Sialkot||Rs. 10,000/-|
|2||Registration fee for IT & ITeS Companies operating from cities other than Karachi, Lahore, Islamabad, Rawalpindi, Peshawar, Faisalabad and Sialkot.
Offer valid till 30th June , 2023
|3||Registration fee for IT Startup (established within past12 months) operating from Karachi, Lahore, Islamabad, Rawalpindi and Peshawar||Rs. 5,000/-|
|4||Registration fee for IT Startup (established within past 12 months) operating from established public/private Incubators in Karachi, Lahore, Islamabad, Rawalpindi and Peshawar
Offer valid till 30th June , 2023
|5||Registration fee for IT Startups (established within past 12 months) operating from cities other than Karachi, Lahore, Islamabad, Rawalpindi and Peshawar
Offer valid till 30th June , 2023
PSEB Online Account Details
PSEB NTN: 2315376-8
A/c Number: 04540013165001 (Habib Bank Ltd)
A/c Title: PSEB REGISTRATION
IBAN: PK23HABB0004540013165001 (Habib Bank Ltd)
Renewal of PSEB
- Login to PSEB registration portal using login credentials.
- Update registration renewal form, upload applicable documents and submit for initial approval (submission with missing mandatory information may be declined).
- After getting initial PSEB approval, deposit requisite fee, upload registration renewal charges, payment receipt, surcharge (if any) and submit for final approval.
- Once the registration payment is verified it usually takes about 2-5 working days to process and issue the certificate.
Renewal charges are determined by the annual revenue earned by your company during last financial year. Please select from the list below:
- Rs. 10,000/- Companies with annual revenue upto Rs. 50 million.
- Rs. 15,000/- Companies with annual revenue of Rs. 50 – 100 million.
- Rs. 20,000/- Companies with annual revenue of Rs. 100 – 300 million.
- Rs. 25,000/- Companies with annual revenue of Rs. 300 – 600 million.
- Rs. 30,000/- Companies with annual revenue above Rs. 600 million.
- Members with expired registration will be charged a surcharge of Rs. 5,000/-
PSEB registration/renewal charges can now be made through online banking/mobile banking apps. If it is not possible to make online payments, you may pay through a pay order/demand draft as well. Please note that the receipt of online payments along with company name and contact details of the focal person must be emailed to firstname.lastname@example.org to ensure timely processing of your PSEB registration application.
After receiving the registration form and documents, the PSEB will evaluate the application and conduct an on-site inspection.
If the application is approved, the PSEB will issue a registration certificate to the company.
In conclusion, to register with the Pakistan Software Export Board (PSEB), a company must first be registered with the SECP, obtain an NTN and STRN from the FBR, open a separate bank account for export transactions, develop software products or services for export, and fill out the PSEB registration form. The required documents must be submitted with the filled form to the PSEB regional or head office for evaluation. If approved, the PSEB will issue a registration certificate to the company.