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President’s Message

Mining_03Board of Investment (BOI) is the brainchild of Shaheed Mohtarma Benazir Bhutto and has been working to attract investment into Pakistan for over a decade now. Today, the Board of Investment is working with the same spirit, under the same mandate of investment promotion and facilitation.

I am pleased to learn that the BOI has launched its official website with a view to attracting local and foreign investment.

Pakistan has a strategic location that enables it to serve the market of over two billion people in China, India and Central Asia. Perhaps no other country has such a strategic location or claim such a great opportunity to businessmen and entrepreneurs. Almost all sectors of economy are open to investment with attractive incentives and liberal policies to give Pakistan an edge over all its regional competitors.

We are prepared to offer free trade zone facilities providing a tax free regime to goods produced in Pakistan and exported to the regional markets. Such trade free zones will also have dedicated power facilities.

We also have adopted a policy of public-private partnership and offer same incentives and facilities to local and foreign entrepreneurs.

It is a deliberate and well thought out policy of the government to act as facilitator for entrepreneurs and enable them do business without hindrances. The Board of Investment has been mandated to serve as a 24/7 facilitator to investors.

I invite all the businessmen and entrepreneurs to explore opportunities and invest in Pakistan now, in a win-win situation in which Pakistan progresses and your investments flourish.
Asif Ali Zardari
President of the Islamic Republic of Pakistan

Mission

Policy Advocacy: Achieve Steady improvements in the investment environment by:

  • Proposing measures to create a steadily improving investment friendly environment
  • Removing and simplifying outdated unnecessary procedures, approvals and legislation
  • Facilitating greater private sector role in industrial zone development

Investment Promotion: Provide exemplary leadership as the apex investment promotion body by:

  • Implementing proactive cost effective responsive and targeted promotion strategies
  • Delivering effective investor facilitation services on behalf of the individual investor
  • Creation of a centralized databank

Coordination: Strengthen linkages between public / private sectors by:

  • Developing effective working relationships with other GOP federal organizations, provincial govts, district governments and Pakistan ‘s missions in target areas.
  • Promote unit and consistency in implementing shared policy objectives
  • Stimulate public – private partnership to attract investment

Company Registration

(a) MODE OF FORMING COMPANIES

Any seven or more persons associated for any lawful purpose may, by subscribing their names to the Memorandum of Association and complying with the requirements of the Companies Ordinance, in respect of the registration, form a public company, and any two or more persons, so associated may, in like manner, form a private company. Detailed guides to incorporation are available in English, Urdu, Arabic andChinese.Prior approval of the ministries (which regulate their respective functions) noted against each category of the following specified nature of companies is required before incorporation of such companies.
(1) Banking Company Ministry of Finance/State Bank of Pakistan.
(2) Insurance Company Ministry of Commerce.
(3) Investment Finance Company (Investment-Bank) (i) Ministry of Finance.
(ii) State Bank of Pakistan.
(4) Leasing Company Securities and Exchange Commission of Pakistan.
(5) Venture Capital Company Securities and Exchange Commission of Pakistan.
(6) Asset Management Company Securities and Exchange Commission of Pakistan.
A company which invests in any of the following industries
(i) Arms and Ammunition Ministry of Industries/Board of Investment.
(ii) Security Printing, Currency and Mint. Ministry of Industries/Board of Investment.
(iii) High Explosives. Ministry of Industries/Board of Investment.
iv) Radio Active Substances Ministry of Industries/Board of Investment.

(b) Availability of Name of the Company

The first step for incorporating a company is to confirm the availability of the name of the proposed company from the Securities & Exchange Commission of Pakistan by conducting an online search.

The name should not be inappropriate, deceptive or designed to offend the religious sensibilities It should not be identical to or have a close resemblance to the name of any existing company. For further information, please consult the Guide to Company Name Availability.

Visa Section

Visa Policy

WORK VISA POLICY / PROCEDURE

Work Visas are granted to foreign technical and managerial personnel for the purpose of imparting technical know-how and skills to the local population. The duration of work visa is two years.

As per Visa Policy cases of grant or extension of Work Visas, and conversion of Business Visas to Work Visas are processed within 4 weeks by BOI.

 

Companies that need to hire foreign nationals should submit a request along with the Prescribed Application Form and documents to IF Wing BOI Islamabad. For the convenience of companies based in the province of Sindh, BOI Karachi Office has also been authorized to process Work Visa cases. Prescribed form can be obtained from BOI Offices at Islamabad and Karachi or can be downloaded from the above link.

 

ONLINE WORK VISA APPLICATION
Companies can submit their work visa application online at the following link. prescribed online application form

PROCEDURE

·      The sponsors registered in Pakistan apply on the Prescribed Application Form along with requisite documents to BOI to process their applications. On receipt of complete documents from sponsors, BOI analyzes the documents and forwards the case to the concerned quarters for their views / comments.

·      If no adverse report is received within stipulated period of 04 weeks, BOI issues recommendation for the grant / extension / conversion of Business Visa into work visa to Ministry of Interior for issuance of visa advice to Pak-Missions abroad / Regional Passport Offices in Pakistan.

·    If any adverse report is received from the concerned quarters, the work visa is cancelled immediately.

CONVERSION OF BUSINESS VISA INTO WORK VISA
Conversion of Business Visa into Work Visa and vice versa has been allowed on payment of conversion fee of US $100/.

IMPOSITION OF ‘OVERSTAY SURCHARGE’ ON FOREIGNER

(a) All Foreign Nationals

Period of Overstay Overstay Surcharge
up to 2 weeks
above 2 weeks to 1 month US $ 50/-
above 1 month to 3 months US $ 200/-
above 3 months to 1 year US $ 400/-

Note:

  • All powers of externment etc. available with MOI will apply in addition to the above surcharge.
  • There will no condonation of overstay charges.
  • No surcharge shall be payable in case of holders of diplomatic passports.

BUSINESS VISAS FOR BUSINESSMEN / INVESTORS
To facilitate travel to and staying in Pakistan for foreign businesspersons and investors, business visa policies have been considerably relaxed. Pakistan Missions abroad are authorized to grant five years validity (multiple entry) visa within 24 hours to businessmen of 66 countries of Business Visa List (BVL), with the duration of each stay would be restricted for three months, on production of any of the following documents:

  • Recommendation letter from Chamber of Commerce & Industry of the respective country of the applicant.
  • Invitation letter from business organization duly recommended by the concerned Trade Organization/ Association, in Pakistan.
  • Recommendatory letter by Honorary Investment Counsellors of BOI.
  • Recommendatory letter from Pakistani Commercial Attaché posted in Pakistan High Commissions / Embassies / Consulates General abroad.
1 Argentina 11 Chile 21 Greece 31 Kuwait 41 New Zealand 51 Singapore 61 Turkmenistan
2 Australia 12 China 22 Hungary 32 Latvia 42 Norway 52 Slovakia 62 United Kingdom
3 Austria 13 Cyprus 23 Iceland 33 Lithuania 43 Oman 53 Slovenia 63 United States
4 Azerbaijan 14 Czech Republic 24 Indonesia 34 Luxembourg 44 Philippines 54 South Africa 64 United Arab Emirates
5 Bahrain 15 Denmark 25 Iran 35 Malaysia 45 Poland 55 South Korea 65 Ukraine
6 Belgium 16 Egypt 26 Ireland 36 Malta 46 Portugal 56 Spain 66 Vietnam
7 Bosnia 17 Estonia 27 Italy 37 Mauritius 47 Qatar 57 Sweden
8 Brazil 18 Finland 28 Japan 38 Mexico 48 Romania 58 Switzerland
9 Brunei 19 France 29 Jordan 39 Morocco 49 Russia 59 Thailand
10 Canada 20 Germany 30 Kazakhstan 40 Netherlands 50 Saudi Arabia 60 Turkey

 ENTRY VISA TO BUSINESSMEN OF REMAINING 123 COUNTRIES
Pakistan Missions abroad can grant one month validity and stay (Multiple) entry visa to the businessmen of remaining 123 countries (except countries not recognized by Pakistan) subject to the production of afore-mentioned requisite documents. Such applicants can apply from their own country or place of legal residence to our Ambassador/High Commissioner/Head of Mission.

VISA ON ARRIVAL (VOA) TO BUSINESSMEN OF 66 COUNTRIES
Visa On Arrival for 30 days validity and stay will be given to the businessmen of 66 countries of Business Visa List (BVL) mentioned above on production of any of the documents as for entry business visa by Missions for businessmen.

REGISTRATION OF FOREIGNERS WITH THE POLICE
It has been decided to exempt all foreigners who have been issued work visas from registration with the police, except for nationals of countries on the negative list.

Even in the case of countries on the negative list (except for Indians and foreigners of Indian origin), foreign nationals in the managerial category who are issued work permits/visas will also be exempted from police registration.

Name of Countries to which Police Registration is Required

SOMALIA INDIA
SUDAN BHUTAN
TANZANIA BANGLADESH
UGANDA IRAQ
UZBEKISTAN ISRAEL
KYRGYZSTAN LIBYA
TAJIKISTAN NIGERIA
PALESTINE SHAM / SYRIA
SIBERIA AZERBAIJAN

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List of Countries with whom Pakistan has Visa Aboltion Agreements

Sr. # Name of Country Period for which visa is not required Remarks
01. Algeria Three months Diplomatic & official passport holders
02. Austria Three months Diplomatic & official passport holders
03. Azerbaijan One month Diplomatic & official passport holders
04. Argentina Three Months Diplomatic & official passport holders
05. Belgium Three Months Diplomatic Passport holders
06. Brazil Three Months Diplomatic Passport holders
07. China One month Diplomatic & official passport holders
08. Czech Three Months Diplomatic & official passport holders
09. Denmark Three Months Diplomatic & official passport holders
10. Finland Three Months Diplomatic & official passport holders
11. Germany Three Months Diplomatic Passport holders
12. Hellenic Republic (Greece) Three Months Diplomatic Passport holders
13. Hong Kong 14- days Diplomatic & official passport holders
14. Ice Land Three Months All Nationals of Country
15. Iran Three Months Diplomatic & official passport holders
16. Kazakhstan One month Diplomatic & official passport holders
17. Kyrgyz Republic 30-days Diplomatic & official passport holders
18. Luxemburg Three Months Diplomatic Passport holders
19. Maldives Three Months All Nationals of Country
20. Mexico Three Months Diplomatic Passport holders
21. Morocco Three Months Diplomatic & official passport holders
22. Netherlands Three Months Diplomatic Passport holders
23. Norway Three Months Diplomatic & official passport holders
24. Nepal One month All Nationals of Country
25. Philippines Three Months Diplomatic Passport holders
26. Romania One month Diplomatic & official passport holders
27. Russian Federation Three Months Diplomatic & official passport holders
28. South Korea Three Months Diplomatic & official passport holders
29. Tonga Un-specified period All Nationals of Country
30. Tunisia Three Months Diplomatic & official passport holders
31. Turkey Three Months Diplomatic & official passport holders
32. Trinidad & Tobago Un-specified period All Nationals of Country
33. Tajikistan Three Months Diplomatic Passport holders
34. Vietnam Three Months Diplomatic & Official passport holders
35. Western Samoa One month All Nationals of Country
36. Yemen Three Months Diplomatic Special & Official Passport Holders
37. Zambia Three Months All Nationals of Country

• Diplomatic Passport holders of Federal Republic of Germany should acquire a diplomatic visa prior to taking up a diplomatic assignment in Pakistan on reciprocal basis, vide Ministry of Interior letter No.1/5/76-Visa dated 08-06-2005

• Modified vide interior Division’s U.No.1/1/74-Visa dated 27-06-2006 (Dte File No.4/1/2006-Policy)

• Effective from 14-12-2006

• Included vide Ministry of Interior’s U.O.No.1/9/2004-Visa dated: 28-02-2007

• Included vide Ministry of Interior’s U.O.No.1/7/2003 –Visa dated: 24-02-2007

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 Work Visa Recommendation issued for grant, extension
and conversion of Business Visa into Work Visa

Years No of Expatriates
2006  (Jan-Dec.) 2,436
2007 (Jan-Dec.) 3,155
2008 (Jan-Dec.) 4,030
2009 (Jan-Dec.) 2,907
2010 (Jan-Dec.) 2,840
Total: 15,368

Board of Investment

The Board of Investment (BOI) was established with broad based responsibilities of promotion of investment in all sectors of economy; facilitation of local and foreign investors for speedy materialization of their projects and to enhance Pakistan ‘s international competitiveness and contribute to economic and social development.
The BOI assists companies and investors who intend to invest in Pakistan as well as facilitates the implementation and operation of their projects. The wide range of services provided by BOI includes providing information on the opportunities for investment and facilitating companies that are looking for joint venture partners.

The BOI acts as a focal point of contact for prospective investors, both domestic and foreign to provide them with all necessary information and assistance in coordinating with other Government Departments/Agencies.

The BOI also evaluates applications of investors for the Work / Business Visa, Branch / Liaison Office and Security clearance.

Business Match Making

Mining_04Online Joint Venture Opportunities
Foreign and Pakistan-owned companies are invited to find potential joint venture partners by registering their interest in the Matchmaking database. Investors who may be interested in taking advantage of this service include: Foreign companies seeking Pakistani companies as joint venture partners.

Pakistani companies seeking Pakistani or foreign partners.

Foreign Investment is welcome irrespective of the purpose of the joint venture to supply a product or a service to the domestic market or to supply it in the export market. If the partner being sought is not already listed on the BOI joint venture database, BOI officials can help to provide you with a list of Pakistani companies in your sector by searching other data sources. Simply click here to mail us.

Secretary’s Message

Pakistan is a land of many splendors and opportunities, a unique blend of history and culture from the East and the West. Growth has been underpinned in Pakistan by economic liberalization, deregulation, financial and capital market reforms and privatization along with wide scale investment in the infrastructure by the Government.

World Foreign Direct Investment (FDI) flows fell moderately in 2008 following a five-year period of uninterrupted growth, in large part as a result of the global economic and financial crisis. While developed economies were initially those most affected, the decline has now spread to developing countries, with inward investment in most developed countries falling in 2009 too. The decline poses challenges for many developing countries including Pakistan, as FDI has become their largest source of external financing. Global FDI flows have dropped in 2009 by nearly two fifths last year, with both rich and poor countries suffering a drop in funds. Flows of Foreign Direct investment (FDI) on which many developing countries rely for growth could start to grow again this year as the economic recovery takes hold.

Investing in Pakistan is one of the best decisions you will ever make. You can top this up by playing slots online games to win great prizes.

In order to capitalize on its strategic location, Pakistan has adopted a liberal investor friendly policy, broad features of which include, proactive facilitation and guarantees of equal treatment of both local and foreign investors, easy tariff structures and a liberal regime on repatriation of profits.

The country is facing severe energy crisis this year and the Government has accorded Power sector top priority for investment and is taking all necessary measures to build a more conducive environment by simplifying procedures to facilitate the potential investors.

There is vast untapped potential in other sectors like horticulture, dairy, construction, infrastructure development, manufacturing and tourism can also prove highly profitable for any prospective investor.

Anisul Hassnain
Secretary,
Board of Investment