- Obtain Application Forms:
- Download Account Opening Form and Investment Form from our website OR
- Collect from our Head office at Lakson Square Building # 2, Sarwar Shaheed Road, Karachi or at any transaction location. A complete list of transaction locations is available on our website OR
- Call us at +92.21 111.525.766 or write us at firstname.lastname@example.org and we will mail/drop the application forms at your doorstep.
- Fill the Application Forms.
- Submit Application Forms and the requisite documents.
The Pakistani markets offer endless investment opportunities for both Non-Resident Pakistanis and International Investors. You can explore the growth potential of Pakistan by investing in Pakistan Markets through Lakson Investments’ products.
How to invest for International Investors
International Investors can invest in Lakson Funds through their Special Convertible Rupee Account (“SCRA”) in Pakistan. Read through the information to find out the steps you need to take to open an account with Lakson Investments;
Step 1: SCRA OPENING
State Bank of Pakistan allows Banks in Pakistan to open SCRAs to facilitate investment from foreign investors. The SCRA is an account that can receive funds from anywhere in the world, in any currency, but maintains its balance in Pakistani Rupee (PKR) only. The currency conversion is executed on the FX rates prevalent on the day the remittance is received. The SCRA is a current account in nature; therefore it does not earn any interest on the outstanding balance. We recommend the SCRA facility at Habib Metropolitan Bank Limited (“HMB”).
Documents required for SCRA opening at HMB;
- Request letter to open an account
- Original Account Opening Forms (duly filled and signed)
- Letter of employer/evidence if self-employed (Notarized in Origin Country)
- Passport/ NICOP copy (Notarized in Origin Country)
- Foreign Account Tax Compliance Act (FATCA) Form
- Fax/email indemnity on PKR 100/- stamp paper (notarized)
- Visiting card (if any) for contact details
- Zakat exemption declaration to be made on PKR 50/- stamp paper (notarized) or on plain paper for non-Muslims for each account holder (for custodial account only)
Required time for SCRA opening: Approx. 7 working days.
The documents listed above are required to fulfill the account opening formalities. The client can provide the documentation directly to Lakson Investments, which may act as liaison for the HMB account opening process. Lakson Investments has a strategic two-way relationship with HMB, which allows us to remain in contact with HMB to ensure that the account opening is handled efficiently.
Step 2: ACCOUNT OPENING WITH LAKSON INVESTMENTS
Once SACRA is active, investor can easily proceed to open an account with Lakson Investments and start investing in any of the Lakson Funds with as low as USD 2,500.
- Download our Account Opening Application Forms and submit duly filled and signed copies of forms along with the following documents to email@example.com followed by the submission of the original forms by courier
- Copy of Passport/ National Identity Card for Overseas Pakistanis
- Letter of employer/ evidence if self employed
- Proof of source of funds
- Duly complete FATCA (Foreign Account Tax Compliance Act) Form
- Form W-9 for US citizens only
- Detail / evidence of the Transfer of Funds in the respective bank account of the Lakson Funds
For every subsequent investment, investment application form along with the detail of transfer of funds in respective Lakson Funds’ account is to be emailed us at firstname.lastname@example.org
Investor will instruct the bank to remit amount of investment to the SCRA maintained at HMB in Pakistan.
HMB will convert the amount in PKR at the prevailing interbank exchange rate.
HMB will then credit the investment amount in the respective Lakson fund(s)’ account as requested by the investor.
On receipt of the amount Lakson Investments will issue units.
Account Statement will be issued and emailed to the investor, which will reflect the investment details.
There is no lock in period for investments in Lakson Funds and investments can be redeemed at anytime by sending an email to email@example.com
General guidelines for e-redemption:
- Email should be sent from Investor’s registered email address
- Email subject should clearly state ‘Redemption’
- Email should include the following details at minimum:
- Name of the Unit Holder
- Account number of the Unit Holder
- NICOP / passport number of the Unit Holder
- Name of the Fund
- Redemption amounts / units
Redemption proceeds can be transferred to the SCRA of the investor, Amount in SCRA can be repatriated at anytime in Foreign Currency on the Investor’s request.