Service overview
Management and investment services cover regulated discretionary or other management of virtual-asset investments.
PVARA differentiates the initial NOC, incorporation in Pakistan, and final licensing for one or more authorised services. An NOC is not an operating licence, and each chosen licence class has its own safeguarding, capital, competence and activity rules.
Who is eligible for Virtual Asset Management and Investment Services Licence?
Evaluate regulated management scope, investor protection, mandate terms, competence, segregation and applicable capital requirements. For a licence in this category, Schedule I to the Pakistan Virtual Asset Services Regulations, 2026 prescribes minimum paid-up capital of PKR 200,000,000. Under the published framework the VASP applicant company must have at least three directors, with applicable independent-director and fit-and-proper controls.
Portfolio managers must have the eligible VASP vehicle and prescribed capital, personnel competence, custody independence and investor-protection policies. Mere virtual-asset advisory status does not confer discretion.
For VASP licences, paid-up capital, eligible company form, director qualifications and actual regulated activity must be tested separately for the chosen licence class. A PVARA NOC does not grant permission to operate.
Documents and information for Virtual Asset Management and Investment Services Licence
Prepare the following information for virtual asset management and investment services licence. The relevant regulator may require further forms or certified evidence, depending on the applicant and chosen procedure.
- Investment mandates
- Portfolio and valuation policies
- Ownership and management profiles
- Custodian arrangements
- Conflicts and AML/CFT programme.
- Evidence of subscribed and paid-up capital, with supporting attestation for the applicable PVARA licensing category
How can I obtain Virtual Asset Management and Investment Services Licence in Pakistan?
- 01Set out managed portfolios or investment products
Distinguish discretionary portfolio management from advice and exchanges; prepare investor mandate and valuation model.
- 02Apply for NOC and satisfy manager capital
Present owners, professional team, investor custody and source-of-funds framework.
- 03Submit Management and Investment Services licence
Provide investment policy, portfolio risk, third-party custody, valuation, conflicts and suitability controls.
- 04Manage only under approved mandates
Deliver statements, asset custody controls, disclosures and continuing regulator returns.
Regulator resource: PVARA published 2026 licensing tracks
After registration or approval
Maintain mandate limits, conflicts, performance reporting, custody and client disclosures.
Governing law & official references
Virtual Assets Act, 2026; Pakistan Virtual Asset Services Regulations, 2026; and Pakistan Virtual Asset Services Activity Specific Regulations, 2026.
The links below lead to government or official regulatory sources relevant to this service. Use the currently consolidated Act, regulations, statutory checklist and official portal when making an application.
How Chambers can assist
Chambers can review the legal route, identify regulatory constraints, prepare or review the supporting corporate and legal documents, manage the prescribed submission and correspond with the competent authority where instructed. The scope of the engagement will be determined by the applicant’s particular circumstances.
For an initial enquiry, identify the proposed activity, applicant entity and current stage, and provide the available documents indicated above. Please avoid sending confidential or identity-sensitive records through an unencrypted first contact.
Common questions about Virtual Asset Management and Investment Services Licence
Who is eligible for Virtual Asset Management and Investment Services Licence in Pakistan?
Evaluate regulated management scope, investor protection, mandate terms, competence, segregation and applicable capital requirements. For a licence in this category, Schedule I to the Pakistan Virtual Asset Services Regulations, 2026 prescribes minimum paid-up capital of PKR 200,000,000. Under the published framework the VASP applicant company must have at least three directors, with applicable independent-director and fit-and-proper controls.
What documents are needed for Virtual Asset Management and Investment Services Licence?
Investment mandates; Portfolio and valuation policies; Ownership and management profiles; Custodian arrangements. Additional requirements can apply to the actual business or regulator.
How can I obtain Virtual Asset Management and Investment Services Licence in Pakistan?
Set out managed portfolios or investment products: Distinguish discretionary portfolio management from advice and exchanges; prepare investor mandate and valuation model. Apply for NOC and satisfy manager capital: Present owners, professional team, investor custody and source-of-funds framework. Submit Management and Investment Services licence: Provide investment policy, portfolio risk, third-party custody, valuation, conflicts and suitability controls. Manage only under approved mandates: Deliver statements, asset custody controls, disclosures and continuing regulator returns.
This guide is general information, not advice on your facts. Check the applicable law, notifications, updated regulator checklists and jurisdiction before acting. The authority alone determines eligibility, acceptance and approval; no outcome or processing period is guaranteed.