Pakistan is a paradise for real estate investment, real investment provides extremely higher rate of return which is 20% to 50% per year. Construction of China Pakistan Economic Corridor has opened new horizons for investors. Further many builders and developers have launched residential and commercial schemes in the areas near to CPEC.
Investment in real estate considered most safe type on investment , mostly people prefer to make investment in form of real estate. Every year thousands of new housing schemes are announced and accomplished every year.
To make secure the hard earned money of Investor, regulators are trying to make rule strict. To initiate Some type of real estate scheme it is mandatory for developers and builder be registered with Securities and Exchange Commission of Pakistan.
Beside Developers and Builders , thousands of small companies and firm are working in construction industry as contractor, sub contractor, designer, architecture and related areas.
- Registration as Company with Securities and Exchange Commission of Pakistan
- Registration with Pakistan Engineering Council
- Registration with Association of Builders and Developers of Pakistan (ABAD), Not Mandatory
Registration as Company with Securities and Exchange Commission of Pakistan
Company Registration Process: Step No.1 (Name Reservation)
First step to reserve name for company, choose a unique name , which has no resemblance with the name of any existing company.
Company Registration Process: Step No. 2 (Preparation of Documents)
The second step in company registration is drafting some legal documents, corporate legal documentation.
Memorandum of Association:
Memorandum of association defines the name of company, province in which company has principal office and principle business of the company.
Articles of Association:
Articles of association lays down matter relating to functioning of company.
Different forms are required to be filed to register a company.
Company Registration Process Step No. 3 (Fees and Certificate of Incorporation)
After preparation of legal documents second step is payment of fees. Deposit registration fee in designated branches of UBL and MCB , in case of online registration process begins as and when fee is deposited. In case of offline
Pakistan Engineering Council is a statutory body, constituted under the PEC Act, to regulate the engineering profession in Pakistan. Pakistan Major functions of PEC include registration of engineers, consulting engineers, constructors/operators and accreditation of engineering programs offered by universities/institutions, ensuring and managing of continuing professional development, assisting the Federal Government in various areas. Registration with Pakistan Engineering Council is mandatory to conduct engineering projects and projects require any civil / construction work. Registration with Pakistan Engineering Council (PEC), under a suitable category, is mandatory
Following documents are required to be submitted for registration
- Bank certificate
- Audited Financial Statement, certified by Chartered Accountant
- CNIC of all Partners / Directors
- NTN of Business
- Company Documents (Form 21, 29, MOA & AOA in case of registration as companies Act Anexure III will be submitted in place of Form 21 and 29) OR Partnership Deed and Form C, in case of firm
- UNDERTAKING FROM CEO / CHAIRMAN / MANAGING PARTNER OR DIRECTOR on stamp paper of Rs. 100/-
Registration with Association of Builders and Developers of Pakistan (ABAD)
Registration with Association of Builders and Developers of Pakistan (ABAD) is also highly recommended for big developers and builders. But this registration is not mandatory for all construction companies/firm.