New UBO registry brings transparency to corporate ownership
MG News | March 09, 2026 at 10:47 AM GMT+05:00
March 09, 2026 (MLN): The Securities and Exchange
Commission of Pakistan (SECP) has introduced a new digital Ultimate Beneficial
Ownership (UBO) registry, which aims to bring transparency to company
ownership.
The online platform will store information about the
ultimate owners of all registered companies, making it easier to track and
verify real ownership.
Under the new system, providing details of ultimate
beneficial owners is now mandatory for all companies, according to a press
release issued.
Newly registered companies must submit ownership information
via Form 1, while existing companies are required to update their records
annually using Form 19.
According to the SECP, the UBO registry will help prevent
the illegal use of companies and ensure compliance with anti-money laundering
regulations, enhancing corporate accountability and governance across Pakistan.
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