Draft amendment to the Foreign Companies Regulations 2018

SECP vide SRO 81(I)/2020 (dated February 7, 2020) issued the draft amendment to the Foreign Companies Regulations 2018 for public comments. The draft amendments propose to seek more details of the ultimate beneficial owners of the foreign

companies. The draft amendments require that the particulars of each corporate body, which is member/ director/secretary of the foreign company would now also include details of the ultimate beneficial owners in case a member is the body corporate.

The draft amendments can be accessed on following link: https://www.secp.gov.pk/document/sro-81-i-2020- draft-amendments-to-foreign-companies-regulations- 2018/?wpdmdl=38343