Operating as a Designated Non-Financial Business or Profession (DNFBP) in Pakistan requires registration with the Federal Board of Revenue (FBR). This process ensures compliance with Anti-Money Laundering and Counter-Terrorism Financing (AML/CFT) regulations. To help you navigate this process smoothly, here’s a comprehensive checklist of the required documents and steps:
1. Registration with FBR:
- Application Form: Download and complete the official DNFBP registration form available on the FBR website.
- Business Documentation:
- Valid business registration certificate or license.
- Proof of business address (e.g., utility bill, rent agreement).
- Memorandum of Association and Articles of Association (for companies).
- Partnership agreement (for AOPs).
- Identification Documents:
- CNIC (Computerized National Identity Card) copies of all directors, partners, and beneficial owners.
- Passport copies for foreign directors, partners, or beneficial owners.
- Other Documents:
- Email address and mobile number.
- NTN (National Tax Number) certificate.
- Character certificates/police records for directors, partners, and beneficial owners.
2. Additional Notes:
- Ensure all documents are clear, legible copies.
- Submit complete and accurate information to avoid delays.
- Keep copies of all submitted documents for your records.
- Processing time for registration can vary, so plan accordingly.
- Consult a tax advisor for personalized guidance if needed.
3. Deregistration:
- If you cease DNFBP operations, inform the FBR within 30 business days using the prescribed form.
- The FBR will deregister your DNFBP upon receiving the necessary information.
By following this checklist and fulfilling all registration requirements, you can ensure a smooth and compliant entry into the DNFBP market in Pakistan. Remember, timely registration and adherence to regulations are crucial for responsible business operations and contribute to a robust AML/CFT framework in the country.
