How to Register a Company in Pakistan
Every entrepreneur has a dream to become a successful business man. Unique characteristics of company form of organization, e.g. perpetual succession, limited liability, separate legal status, transferability of shares etc, safeguard personal properties of shareholders or directors and enhance the confidence of all stakeholders on the company . .A Company is an artificial legal personality which is owned by shareholders or directors whose liability is limited to the investment made by them.
Immunity to personal property of owners of company (limited liability) in the event of bankruptcy or insolvency gives the guarantee of success. If one opts to do business as sole proprietor or under partnership then in case of insolvency personal properties and asset are seized to satisfy the obligations.
Security and Exchange Commission of Pakistan (SECP) is apex regulatory authority of corporate sector. SECP regulates the process of company registration in Pakistan. Company registration process is not quite easy it consists of various steps.
Company registration can be done through offline or online procedure, any procedure can be adopted.
Offline Company Registration:
While searching or selecting your business name, please make sure, it indicates your business activities, main objects and sector of your business. It should not resemble with other company name, should not be deceptive, inappropriate and should not be create any controversy.
Download name availability form, carefully fill the application form with correct spelling your company name, deposit Challan for name reservation in any branch of UBL or MCB bank.
After fee deposit, send name reservation form along with original challan to registrar. There are nine different company registration offices across Pakistan (CRO).
Company registration office will carefully consider your name reservation application. If your business name is rejected with some reason, you will have to repeat the same process again with new name reservation.
If your name is reserved after carefully considering the criteria by company registration office. Your business name is reserved for the period of ninety days (90). After the laps of this period, your business name will automatically be expired.
Online Company Registration
Company registration procedure consists of few steps and these steps are described below in detail.
Security and Exchange Commission of Pakistan has established e-portal to facilitate online company registration process .
Creation of User ID :
In first step User ID for each promoter (director) of company is created , various particulars relating to the promoter are required. After successful filing of form, password and PIN Code is sent on both mobile and email .
While searching/selecting your company name, be careful that your company name should be unique in all respect. It indicates the worth of your company.
- Company name should not be on the name of the country,
- Should not be controversy
- Should not be inappropriate
- Should not be identical to other business name
Fill in the name reservation form on SECP e-portal with accurate spelling . Print the challan and deposit fee in any branch of UBL or MCB.
Once your company name is reserved,it will be stay reserved for the period of ninety days (90). After ninety days, your name will be expire and available for registration for others.
Submission of Document
After name reservation following legal documents are required to be submitted to complete the registration process
- Memorandum of Article
- Article of Association
- Form 1
- Form 21
- Form 29
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