How to Register a Company in Pakistan
In this article we are going to share the process about how to register a company in Pakistan, every legal business needs to register. There are three types of companies that anyone can register, Private limited Company (PVT), Single Member Company (SMC), Public Limited Company (PLC). Foreigners who want to do business in Pakistan will need to register their business. The procedure isn’t easy as everyone isn’t aware of the basic legal, corporate awareness about the company registration in Pakistan. People take advice from experienced professionals, consultants & lawyers who are doing all the tasks and process in their place.
Security Exchange of Pakistan (SECP) register companies under the updated act of companies 2017, they makes your registration with FBR & EOBI. We briefly discuss the company registration procedure for nationals and foreigners as company registration fee and relevant documents required for company registration in Pakistan.
Hire Consultants For Company Registration
To start new business it is important to register the company, there are many consultants companies that are giving services for this regard. Creative Soul offers Company registration in Pakistan for all cities including Karachi, Lahore, Islamabad, Peshawar & Quetta. They have registered hundreds of firms around the country as they are providing services for Company NTN registration & General Sales Tax “STRN” Registration.
Main Requirements for Company Registration in Pakistan:
1) National Identity Card/ Passport scan copy of all Directors/CEO
2) Contact Details ‘Email, Phone number & Present Address’ of all Directors/CEO.
Head & Regional Offices Contact # & Addresses.
3) Three Different names for company registration along with their meanings.
4) Memorandum of Association and Articles of Association
6) Completion of Relevant forms which are necessary for company registration and Appropriate fee according to capital of the company
7) Foreigners have to provide their passport scan copies for registration.
Types of Companies
- Private Limited Company
- Single Member Company
- Public Limited Company
Private Limited Company: You need minimum two shareholders to register & go for maximum 50 shareholders who can have the shares. For registration, you need minimum two directors and one CEO who can have some shares. The minimum Capital for registration is one lac Pakistani rupees.
Single Member Company: A single member company is a company that an individual can start his business without any partner. The minimum Capital for registration is fifty thousand Pakistani rupees.
Public Limited Company: A public company is a company that has permission to issue registered securities to the general public. A public company is not authorized to begin its business operations just upon the grant of the certificate of incorporation. In order to be eligible to run as a public company, it should obtain another document called a trading certificate.
Process of Online Company Registration:
If you want to do the process and don’t want to hire any expert you can follow these steps to register a company.
Hire the consultants to do all this process for you: Company Registration in Pakistan
1) Open SECP website to create an account.
After e-registration, you will get an email with username and password through which you will be able to log in and complete e-enrollment. You must register the Business name as mentioned on Letterhead while filling the form.
Your business name on NTN number form and your bank account title must be the same.
2) After filling the form you will receive the code on your phone and email address that you providing at the time of registration.
3) after you create an account you will be able to sign in and can register a company. Click on the Incorporation & Reservation name link.
4)Check the availability of your proposed name. (you can search google as well for verification)
5) New form will be opened you can fill that application form according to the asked fields.
6) Carefully select the Business line & Principal Activity as it will be the only thing that can describe your company.
7) once you fill all the data you will be needed to submit your documents in process menu.
8) Download the sample of Memorandum of Association and Articles of Association and fill that properly as you have to submit it.
9) After submitting the documents every director/Shareholder will sign the documents with their secret pins that you received at the time of registration.
10) Now sign the documents & submit than fees will be due to pay the Manual Challan Secp registration fees through MCB & UBL selected branches.
11) After a day or two you can visit the Company Registration Office to collect your documents.
Manual Challan SECP Fees Process:
SECP charge their customer for creating an account on their website, they also charge for the certificate of name reservation.
The name reservation fees, Certification fees & Document Processing fees will be around Rs. 2000 to Rs. 3000 will be due to pay within 15 days of registration after that application will be automatically go through the process again to register.
Online Payment: Payment method will appear in the online payment section of e-services from where you can make the online payment.
Memorandum of Association
explains your business sector of the company e.g. Institution, Travel agency, Trading or manufacturing, Supply or chain of stores. To put simply, MOA tells about the relationship of your company with the outside world.
Register with ESSI and EOBI
Depends on the location of the business, you’ll either needs to register with
- Kyber Employees Social Security Institution (KPESSI)
- Baochistan Employees Social Security Institution (BESSI)
- Sindh Employees Social Security Institution (SESSI)
- Punjab Employees Social Security Institutions (PESSI)
Under the Employees Old Age Benefits Institution (EOBI), insured employees are entitled for pension upon retirement. Every industry or a commercial establishment with five or more employees has to be registered with the federal Employees Old age Benefits Institution (EOBI).
All the points are cleared in this article if you still need any information or help you can contact us.