Establishing an insurance brokerage firm in Pakistan requires navigating a stringent dual-stage regulatory framework. At Javid Law Associates, we leverage our decades of corporate expertise to streamline your path to compliance. Our comprehensive legal services cover both the initial SECP company registration as a Private Limited company and the subsequent licensing phase with the SECP Insurance Division under the Insurance Ordinance, 2000.
Regulatory Framework & Licensing Phases
The process is structured systematically to meet the strict statutory standards of the Securities and Exchange Commission of Pakistan (SECP) and the Federal Board of Revenue (FBR).
| Phase | Key Requirements & Deliverables | Timeline |
|---|---|---|
| Phase 1: Incorporation | SECP company registration, name reservation, custom Memorandum & Articles of Association with insurance brokerage objects. | 7-10 Working Days |
| Phase 2: Tax Setup | NTN Registration Pakistan, sales tax setup, and corporate bank account opening with minimum statutory paid-up capital of PKR 10 Million. | 5-7 Working Days |
| Phase 3: Licensing | Application drafting, professional indemnity insurance setup, statutory fit & proper test compliance, and license issuance by SECP Insurance Division. | 45-60 Working Days |
Why Choose Javid Law Associates?
Since 2004, Javid Law Associates has been a premier corporate legal services Pakistan provider. Operating from our offices in F-10 Markaz, Islamabad, and Bahawalpur, we assist clients nationwide in complex licensing matters. We handle everything from company registration in Pakistan to ongoing corporate matters consultation, mitigating compliance risks and ensuring complete alignment with the latest SECP insurance regulations.
Ongoing Post-Licensing Compliance
Once registered, an insurance broker must adhere to continuous statutory reporting. This includes filing audited financial statements, maintaining the statutory net asset threshold, and ensuring compliance with AML/CFT guidelines issued by the SECP. Our dedicated team provides ongoing support to guarantee your business maintains perfect regulatory standing.
Service heading
Establish your licensed insurance brokerage firm with SECP registration and regulatory compliance led by Javid Law Associates.
Estimated duration
60-90 Days
Price
Rs. 250,000
Requirements
- Minimum equity / paid-up capital of PKR 10 Million
- Three proposed corporate names for reservation with SECP
- Attested CNIC / Passport copies, educational credentials, and CVs of all proposed Directors
- Clean credit report (CIB) and clearance under SECP Fit and Proper criteria for key personnel
- Proof of registered office address with lease agreement or utility bills
Key features
- End-to-end SECP company registration as a Private Limited company
- Specialized drafting of Memorandum and Articles of Association
- FBR NTN Registration Pakistan and provincial tax alignment
- Assistance with bank account opening and capital injection certification
- Drafting and filing of formal broker license application with SECP Insurance Division
- Comprehensive guidance on procuring the required Professional Indemnity Insurance
- Representation before regulatory officers during the application evaluation phase
About the Author
Written by the expert legal team at Javid Law Associates. Our team specializes in corporate law, tax compliance, and business registration services across Pakistan.