Legal Templates
Beneficial Ownership Declaration Form

Beneficial Ownership Declaration Form for Pakistan

Beneficial Ownership Declaration Form Template for Pakistan

A comprehensive declaration form mandated by Pakistani law, specifically the Companies Act 2017 and SECP regulations, designed to capture and document the ultimate beneficial ownership structure of companies registered in Pakistan. The form requires detailed disclosure of natural persons who ultimately own or control 25% or more of a company's shares or voting rights, either directly or indirectly, including through intermediary entities or control arrangements. It forms a crucial part of Pakistan's corporate transparency framework and anti-money laundering regime, aligned with FATF recommendations.

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What is a Beneficial Ownership Declaration Form?

The Beneficial Ownership Declaration Form is a mandatory requirement under Pakistani corporate law, introduced to enhance transparency and combat financial crimes. This document must be filed with the SECP by all companies registered in Pakistan when reporting their beneficial ownership structure, whether during company registration, when changes occur in beneficial ownership, or during annual filing requirements. The form captures detailed information about individuals who ultimately own or control significant portions of a company, including direct and indirect ownership arrangements, voting rights, and other forms of control. It aligns with international standards for corporate transparency and Pakistan's commitments to the Financial Action Task Force (FATF).

What sections should be included in a Beneficial Ownership Declaration Form?

1. Declaration Details: Date of declaration, company details (name, registration number, registered address), and form submission purpose (new/update)

2. Declarant Information: Details of the person making the declaration, including full name, position, contact information, and relationship to the company

3. Company Ownership Structure: Overview of the company's ownership structure, including direct shareholders and intermediary entities

4. Natural Person Beneficial Owners: Details of all natural persons who ultimately own or control 25% or more of the shares/voting rights, directly or indirectly

5. Control Details: Information about persons exercising control through means other than shareholding (e.g., voting rights, right to appoint board members)

6. Verification and Documentation: List of supporting documents provided to verify beneficial ownership claims

7. Declaration and Signature: Formal declaration of accuracy and completeness, with signatures and date

What sections are optional to include in a Beneficial Ownership Declaration Form?

1. Foreign Ownership Details: Additional section required when beneficial owners include foreign nationals or entities, including specific foreign ownership requirements

2. Trust Arrangements: Required when any beneficial ownership is held through trust arrangements, detailing trustees, beneficiaries, and settlors

3. State Ownership Declaration: Required when any beneficial owner is a state/government entity, including details of the relevant government body

4. Chain of Ownership: Detailed breakdown of ownership chain required for complex corporate structures with multiple layers

What schedules should be included in a Beneficial Ownership Declaration Form?

1. Schedule A - Individual Beneficial Owner Details: Detailed information form for each natural person beneficial owner, including personal identification and contact details

2. Schedule B - Corporate Structure Diagram: Visual representation of the complete ownership structure showing all entities and ownership percentages

3. Schedule C - Supporting Documents Checklist: List of required supporting documents including identity proofs, share certificates, and corporate documents

4. Appendix 1 - Guidance Notes: Explanatory notes on how to complete the form, definitions of key terms, and regulatory requirements

5. Appendix 2 - Change Log: Record of changes in beneficial ownership information over time (for updates to existing declarations)

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

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Jurisdiction

Pakistan

Publisher

Genie AI

Document Type

Declaration Form

Sector

Compliance

Cost

Free to use
Relevant legal definitions
Beneficial Owner
Control
Direct Ownership
Indirect Ownership
Natural Person
Legal Person
Significant Influence
Voting Rights
Share Capital
Ultimate Beneficial Owner
Chain of Ownership
Controlling Interest
Substantial Shareholder
Trust Arrangement
Nominee Shareholder
Corporate Vehicle
Joint Ownership
Ownership Threshold
Material Interest
Senior Managing Official
Register of Beneficial Owners
Declaration Period
Intermediary Entity
Control through Other Means
Declarant
Associated Person
Registered Owner
Politically Exposed Person
Corporate Structure
Governing Body
Clauses
Company Information
Declarant Details
Natural Person Identification
Ownership Structure
Control Rights
Shareholding Details
Voting Rights
Trust Arrangements
Foreign Ownership
Change Notification
Supporting Documentation
Verification Requirements
Declaration of Truth
Compliance Statement
Data Protection
Information Update Requirements
Document Authentication
Legal Representatives
Signature Requirements
Penalties and Enforcement
Record Keeping
Confidentiality
Government Reporting
Anti-Money Laundering Compliance
Relevant Industries

Financial Services

Banking

Insurance

Real Estate

Manufacturing

Technology

Mining

Energy

Telecommunications

Healthcare

Retail

Construction

Professional Services

Transport and Logistics

Agriculture

Education

Relevant Teams

Legal

Compliance

Corporate Governance

Company Secretariat

Risk Management

Corporate Affairs

Regulatory Affairs

Finance

Board Secretariat

Due Diligence

Relevant Roles

Company Secretary

Chief Executive Officer

Chief Financial Officer

Compliance Officer

Legal Counsel

Corporate Governance Officer

Risk Management Officer

Board Director

Company Director

Corporate Affairs Manager

Legal Manager

Regulatory Compliance Manager

Company Registration Officer

Due Diligence Officer

Industries
Companies Act 2017: The primary legislation governing company formation and operation in Pakistan, which includes provisions for maintaining registers of beneficial ownership and disclosure requirements
Companies (General Provisions and Forms) Regulations, 2018: Provides specific forms and requirements for beneficial ownership declarations and maintenance of registers
Anti-Money Laundering Act, 2010: Contains provisions regarding beneficial ownership disclosure as part of anti-money laundering measures
SECP Circular No. 16 of 2020: Provides specific guidelines for maintaining and updating beneficial ownership information of companies
Foreign Exchange Regulation Act, 1947: Relevant for declarations involving foreign beneficial owners and cross-border ownership structures
SECP (Beneficial Ownership Information) Regulations, 2020: Detailed regulations specifically dealing with beneficial ownership reporting requirements and thresholds
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