The volume of import and export of goods can be used as a gauge to measure the size of GDP size of a country. The more exports the better economy that is why every country draws its own imports and export policy based on various factors. In this article, we are trying to design the process and different steps involved when a person or a company wants to obtain an import and export licence in Pakistan. We tried our best to keep this information as simple as possible so the reader can easily understand how to register an import and export company in Pakistan.
Step by step process and requirements of becoming Exporter or Importer in Pakistan
Step 1 – Company Registration
- Register at Securities and Exchange Commission of Pakistan (SECP)
- Using a lawyer for this purpose is recommended.
- For self-registration, the SECP website can be visited as well.
- Registration completes when one gets the National Tax Number (NTN), and Sales Tax Registration Number (STN)
Step 2 – Bank Account Opening
- A bank account is needed because export-related financial transactions legally require the involvement of a registered bank.
- The pre-requisites of this step are the company registration document and NTN number.
- Bank account opening usually requires a request to Bank account opening on the company letterhead stating the business NTN number. Some bank-specific requirements might also need to be met.
- It is recommended that the account opening is consulted with a bank representative.
Step 3 – Obtaining Chamber of Commerce Registration
- This registration can be done by contacting the local chamber of commerce.
- For Karachi, it’s the Karachi Chamber of Commerce and Industries and for Islamabad, it’s the Islamabad Chamber of Commerce and Industries (ICCI).
- Other major cities have similar chambers of commerce and industries.
- The jurisdiction of these chambers may vary depending upon the area that they represent.
Step 4 – Registering for WeBOC
- WeBOC or Web-Based One Customs is an IT platform that connects most of the stakeholders of the exporting process in Pakistan.
- Used mainly for generating an E-form and filling of Goods Declaration.
- Registration for WeBOC is now essential and one of the main steps involved in getting registered as an exporter in Pakistan.
- Registration can be done by filling a form available at weboc.gov.pk
- The pre-requisites of this form are NTN, STRN or STN, and Business bank account number.
Registration for WeBOC marks the completion of registration as an exporter and the business should now be ready to send goods to international destinations.