Punjab is the biggest province of Pakistan; fertile land, large cultivatable area, best irrigation system of the world make Punjab the richest area of agricultural products in the whole sub-continent and South Asia. On the other side, many cities of Punjab are famous for heavy industries while the some other towns and cities have thousands of cottage industries.
Industries, trade and agriculture enhances the economy of Punjab, Its share of Pakistan’s GDP is around 60%.
Population of Punjab is more than 110 million, as per census of 2017. Punjab has most developed infrastructure hence in last few years all famous brands of multinational companies have established their outlets in many cities of the Province. One will find KFC, McDonalds , Bonanza, Oxford etc. in small cities of the Province.
Securities and Exchange Commission of Pakistan (SECP) is apex regulatory authority of Pakistan, SECP has established nine (09) CRO’s in the country, out of which 4 are working in the Province of Punjab. Most of the foreign investment made in the Province due to availability of most developed infrastructure, highly skilled manpower and huge population.
To facilitate company registration process in the Province 3 Company Registration offices are working i.e. CRO Lahore, CRO Multan and CRO Faisalabad, beside it CRO Islamabad also serves area of Northern Punjab and Potohar Region. Around 70% companies of total companies are registered in the province of Punjab every month.
Company Registration Process is same in whole the country, as per Constitution of Islamic Republic of Pakistan Corporate Matters are regulated by the Federal Government of the Country. Hence , Provincial Governments have nothing to do with the company registration.
Company Registration Process in Punjab : Step No. 1 (Name Availability)
The first step in company Registration in Pakistan is to apply for company name prior to making an application to the Securities and Exchange Commission of Pakistan for company registration please search name on the Securities and Exchange Commission of Pakistan website and then apply for the name.
Company Registration Process in Punjab: Step No. 2 (Preparation of Documents)
The second step in company registration in Punjab is drafting basic legal document of the company.
Memorandum of Association:
Memorandum define the name of company, principal place of business, principal activities, liability and share capital
Articles of Association:
Articles defines the rules and regulations of the company.
Different forms, relating to particulars of directors, CEO, Principal activity, address and other matters are filed for registration
Company Registration Process in Punjab: Step No. 3 (Fees and Certificate of Incorporation)
After preparation of documents fee as per share capital of the company is deposited in the designated branches of UBL and MCB. Concerned officers of SECP review the documents, if any discrepancies or contradiction to Companies Act are found the documents are resubmitted