egal Aspects of company registration in Pakistan
Pakistan in one of the most lucrative place for investment today because of the cheap and larger quantity of labour in the country. More and more investors have shown their interest in stabilising business in Pakistan.
However as in most parts of the world Pakistan has also three forms of legal business registration. First form of business registration is formation as sole proprietor or sole trader registration. To register your business as sole trader or proprietor in Pakistan you have to file an electronic application with the Federal Board of Revenue which the prime and only body chartered to collect and manage taxes in Pakistan. Registration of business as sole proprietor is a simple process and sometimes even completed within a period of one week or so. At the end of the process a certificate is issued by the Federal Board of Revenue whereby the name of the owner along with the Business name is mentioned in the certificate which is also called the National Tax Number Certificate.
The other form of business registration is Firm registration in Pakistan. To register your business as firm at least two partners are needed that form a partnership deed that covers all the basics of operating the business including the distribution of profits and losses. The registration of firm is the authority of the registrar of relevant district and each district has its own registrar that issues certificate of firm registration. However, once registered the firm is free to operate in any part of Pakistan for business purposes.
The other form of business registration is company registration in Pakistan. Company registration in Pakistan is the authority of Securities and Exchange Commission of Pakistan. All forms of companies i.e. Private Limited Company registration known as Limited Liability Company in most parts of the world, company limited by Guarantee registration in Pakistan and Public Limited companies are registered with Securities and Exchange Commission of Pakistan. Most of the people prefer for company registration in Pakistan as the risk of business is minimize up to certain extent with doing your business after company registration in Pakistan. Company registration in Pakistan is fairly simple process and can be easily completed within a period of 10 to 15 working days. At the end of registration process a certificate is issued by the Securities and Exchange Commission of Pakistan which is the evidence of company registration in Pakistan.