We will discuss very common questions, which are mostly asked by people. How to register a company in Pakistan or how to register a private limited company in Pakistan.
Before going into details about how to register a company in Pakistan, let me share with you that there are 03 different forms of business registration in Pakistan.
Private Limited Company
We will discuss the procedure here that how to register a private limited company in Pakistan:
To give you a proper understanding of How to Register a Company in Pakistan or procedure of registration of the company. Here is a very simple step by step procedural guide that can help you regarding your business registration in Pakistan. If you are well qualified and have knowledge about legal formalities, how to register a company in Pakistan. So, it is very easy for you to register your own small business without any lawyer or 3rd party facilitator.
It is not complicated now, for the registration of the company, you are just required to arrange some company documents as per the requirement of Company Act, 2017. (Before it was 1984).But frankly advice, that better you process through a lawyer or consultant to avoid nominal but important issues to be addressed during the registration process.
1-Reservation of company name and Company Incorporation
Check the availability of your desired name on the SECP website. It is an online service for new company registration online, where you can register your company online. You will find a dropdown with 03 options. Choose and select the option and place your desired name there. If your selected name is available then select and final it for reservation. But make sure it should not fall in the prohibited list, otherwise, your application will be rejected by the SECP. Better you visit Section 10 of this Act. (Company Act, 2017) which is about name selection, You will find detailed information there.
Note: there should be an account in your name or you should be registered on the SECP system before the reservation of your selected company or business name.
You will submit your application of company name reservation and Company incorporation to Registrar. You can submit it combined or separate. There should be three (03)name proposals in your application, submit it to the authorized person(Registrar), Who takes normally 03 to 05 working days And will permit you for one suitable name to use in the Documents for Company incorporation. first step of your query, that how to register a company in Pakistan.
2nd step of the procedure of registration of the company, After name reservation from SECP. You need to get a digital signature certificate for each director from NIFT. It is necessary for ONLINE SYSTEM to use for all documents to be signed later on by Directors. MOA-AOA and other related forms before submission to SECP through e-service.
3-Required Documents for the formation of the company
Memorandum of Association and Articles of Association
CNIC Xerox copies of Directors, CEO, Share % of each Director and Registered office address. Cell nos of all Directors and email ids.
SECP only can register your business under this Company Act, 2017. If you want to register some specialized business you may need to provide NOC from concerned regulatory authorities like PTA, OGRA, SBP, etc.
You will have to provide /attaché more documents if you are a representative of a foreign company. Such as List and details of Directors. Company profile, proof of Directors’ nationality, Company charter’s certified copy. Statute or Memorandum of Association and Articles of Association.
The filing fee and company’s registration
Authorization of Subscribers for filing of documents
Company registration fee in Pakistan:
If you are a private limited company with a capital of 100000pkr, it will take 06 weeks. And you need to pay 1800pkr for online and 3500pkr for the offline process of incorporation company.
Note: fee can be different +- as per Government policies.
For the online system, take a print of fee challan and process through time to time mentioned banks by SECP.
If your application of business formation gets approved and determined fee by SECP is already paid. you will get a certificate from the Securities and Exchange Commission of Pakistan. You can get it either online or offline (physical form). “REGISTERED”
Start your business (Private Limited Company)
Once you receive your incorporation certificate, you can start your small business (Private Limited Company). It is important to know, that it was the procedure of registration of private limited companies.
I hope it will help you a lot to understand the process, That how to register a Company in Pakistan. I tried to elaborate on both ONLINE AND OFFLINE procedures. I hope you would understand. For any query and clarification feel free to ask in the comment box.