01/02/2026
Opening a bank account for a Single Member Company (SMC-Private Limited) in the pharmaceutical sector in Pakistan requires standard corporate documentation, along with specific, certified copies of registration documents from the Securities and Exchange Commission of Pakistan (SECP) and the Federal Board of Revenue (FBR).
Here are the required documents and steps for opening an SMC-Pvt Ltd bank account in Pakistan based on typical banking requirements:
1. Mandatory SECP & Company Documents
Certificate of Incorporation: The original and a certified true copy (CTC) of the certificate issued by SECP.
Memorandum of Association (MoA) & Articles of Association (AoA): A certified copy.
Form-S1 (SMC Nomination): Details of the sole member and nominee.
Form-A/Form-29 (if applicable): While some exemptions exist for new SMCs, banks may request these.
2. Tax and Regulatory Documents
Company NTN Certificate: Valid National Tax Number (NTN) certificate issued by FBR.
Sales Tax Registration (STRN): Mandatory if the pharmaceutical company is involved in manufacturing, importing, or distribution.
Drug License/Pharmacy License: Since it is a pharmaceutical company, the Drug Regulatory Authority of Pakistan (DRAP) license or provincial health department license will be required.
3. Personal and Identification Documents (Director/Member)
CNIC of the Sole Member: Valid Computerized National Identity Card.
CNIC of the Nominee Director: Valid CNIC of the person nominated in Form S1.
Photographs: Passport-sized photographs of the director and authorized signatories.
Biometric Verification: Biometric verification of the sole member is mandatory.
4. Account Opening & Banking Documents
Account Opening Form: Duly filled and signed by the authorized signatory/member.
Board Resolution/Letter of Resolution: A letter on the company’s letterhead acting as a resolution by the sole member to open and operate the account.
Account Opening Request: A request letter on the company letterhead authorizing the signatories.
Company Seal/Stamp: Required for all official documentation.
5. Pharmaceutical/Business Specific
Company Profile: A brief description of the company’s business activities.
Proof of Business Address: A utility bill (electricity, gas, or landline telephone) or rental agreement.
Key Advice
Certified True Copies (CTCs): Most banks require Certified True Copies of the incorporation documents, which can be obtained from the SECP portal or office.
Physical Verification: Banks will likely conduct a physical inspection of the business premises before opening the account.
Digital Verification: Nowadays, banks can verify documents digitally through the SECP portal.
