There are certain criteria to joining the OICCI. Listed below are articles from the OICCI Memorandum explaining those criteria. If you have any further questions, please contact us.
Article 1 (j) of the OICCI Memorandum reads as follows:
Foreign national means:
- all bodies incorporated in Pakistan with 100% paid up share capital owned by a foreign holding company but with the proviso that the paid up foreign share capital is not less than US $ 0.3 Million or equivalent.
- all bodies incorporated in Pakistan with 26% or more paid up capital by a foreign holding company, with a minimum of US $ 0.5 Million foreign shareholding. The foreign shareholder must operate in at least two other jurisdictions / countries besides Pakistan and have a Group paid up share capital in excess of US $ 5 Million or equivalent.
- all bodies incorporated outside Pakistan, the majority shareholder of which foreign incorporated company must also operate in at least two other jurisdictions / countries besides Pakistan and have a Group paid up share capital in excess of US$ 5 Million.
Provided however that nothing contained in this Clause shall affect in any way the Membership or any of the rights and privileges arising under it of all those who are already Members of the Chamber as on 19th April, 2005.
In order to qualify for membership the body corporate must in addition to fulfilling the aforesaid criteria meet the condition laid down in Article 5 which reads as follows:
- Any party being a foreign national which
- is not ineligible as defined in Article 1 (d) and has a permanent place of business in Pakistan and is engaged in commerce and industry within Pakistan.
shall be eligible for ordinary membership
- Ordinary members shall be entitled to all the rights, privileges and advantages of the membership of the Chamber.
Article 1 (d)
“Ineligible” in relation to membership of Chamber shall include:
- Every person being an un-discharged insolvent, or bankrupt, or in liquidation or being wound up.
- Every applicant for membership declared by the Committee to be ineligible for membership.
- Every Member declared by the Committee to be ineligible to continue as a Member.