Pakistan counsel for China fintech, NBFC and crypto clients
SECP, State Bank and PVARA work for groups sitting in mainland China or Hong Kong. You do not need to fly to Lahore to start the file.
Chinese payment groups, lending platforms and virtual-asset businesses instructing Pakistan work usually need three files, not one brochure: a Pakistan company, the correct regulator licence, and bank onboarding that will survive AML review. This page is written for counsel and founders sitting in mainland China or Hong Kong. It is Pakistan-law advice only. It is not advice on PRC, Hong Kong or Cayman law.
China desk: three licence files
Fintech & digital payments
SECP company. State Bank EMI, PSO or PSP path — or a merchant / API deal with JazzCash, Easypaisa, NayaPay or SadaPay. Raast onboarding where the model requires it.
NBFC & business finance
SECP Non-Banking Finance Company licence: investment finance, leasing, housing finance, lending. Capital, sponsor fitness and foreign-ownership filings before the licence, not after.
Virtual assets & crypto
PVARA NOC / VASP licence, AML/CFT manual, and the bank-account conversation that only starts once the licence paper exists.
Instruct from Beijing, Shanghai, Shenzhen or Hong Kong
Scope in writing
Send the product note (payments, lending, or virtual assets), target city in Pakistan, and whether you need a subsidiary, branch, or a commercial integration only. Written feasibility from Lahore, usually within two business days.
Pakistan company + regulator map
SECP incorporation under the Companies Act 2017, then the licence that matches the model: SBP for e-money and payment systems, SECP for NBFC, PVARA for virtual assets. Wrong box at the start is what makes a twelve-week file become nine months.
You stay abroad
Power of attorney and KYC can be completed outside Pakistan. The Lahore team files, attends the regulator, and writes the weekly note on WhatsApp or email. English working language.
Also used by groups that already have UK, US or EU counsel and need a Pakistan desk that will speak to that counsel directly: international corporate clients · how we work with clients abroad.
Questions China counsel asks first
Do we advise on Chinese law?
No. Only Pakistan. Your PRC or Hong Kong firm keeps that file.
Can foreign shareholders own the Pakistan entity?
In most of these models, yes — subject to sector rules, SBP/SECP fitness review and State Bank reporting on foreign investment. We map that before you remit capital.
Will a Pakistani bank open an account for a China-owned payments or crypto vehicle?
After the correct licence is in hand, and after source-of-funds and UBO paperwork that a Pakistani compliance team will actually accept. Licence first, account second.
Questions from China-based clients.
Yes, subject to SECP incorporation and the correct State Bank of Pakistan licence (EMI, PSO or PSP) or a merchant integration with an existing wallet. Foreign shareholding and fitness-and-propriety review apply. KBL advises on Pakistan law only.
Non-Banking Finance Companies are licensed by SECP. Typical boxes are investment finance, leasing, housing finance and lending. A China-based group usually incorporates a Pakistan company first, then files the NBFC licence with the required capital and sponsors.
Virtual asset activity in Pakistan sits under PVARA. A VASP generally needs the relevant NOC or licence and AML/CFT policies before banks will open accounts. This is Pakistan regulatory work, not advice on PRC or Hong Kong law.
Usually no. Instruction, KYC and a power of attorney can be completed from Beijing, Shanghai, Shenzhen, Hangzhou or Hong Kong. Hearings and regulator meetings in Pakistan are attended by the Lahore team.