Protax Consultancy has handled numerous company registrations in Pakistan. We can proudly say that we have handled the registration process for every industry, ranging from health- and care-related companies to manufacturing-related companies, and several others, in cities including Karachi, Lahore, Islamabad, and others across Pakistan.
Registering a company in Pakistan strengthens your identity and adds credibility to your business: Potential customers will be able to recognise you as a legitimate company if you register your business in Pakistan. It also attracts private investors or sponsors. Meanwhile, a bank will not open a business account for your company if your firm is not registered with SECP.
Protax Consultancy is a law firm that helps business owners with company registration in Pakistan. Company registration with the SECP is essential, and our professionals can help you with it. However, we’ve put together a quick, step-by-step guide to registering your business in Pakistan.
Choosing a company name is the first step when you decide to set up and register a business in Pakistan. It’s critical to come up with a unique company name that will set you apart from the competition. Moreover, make sure that you do not copy the exact name of any other organization.
You should adhere to all the rules. Make certain, for example, that you do not use any forbidden words while you decide to name your company.
The next stage is to submit all the essential documentation to the Securities and Exchange Commission of Pakistan once the company name has been approved (SECP).
The SECP reviews the documents upon submission. They double-check its authenticity. The National Institutional Facilitation Technologies (NIFT) issues digital signatures, which can be obtained through the SECP.
The higher authority is also responsible for issuing the certificate of incorporation. A company presentation may be required. But this depends on the company's origins.
Once the company is registered, shareholders must deposit their shares into the company’s bank account in the appropriate amount.
The Federal Board of Revenue (FBR) must be registered and a national tax number issued before a company can be formed in Pakistan (NTN). If necessary, a sales tax registration number can be obtained.
If you want to register a company in Pakistan, contact the professionals at Protax Consultancy, and we’ll handle the process for you. Call or WhatsApp us now at +92 303 2097797, +92 312 8775384, or Email Us at [email protected] to get free, professional consultancy on company registration in Pakistan.
In Pakistan, a private limited company is a prominent business structure. Establishing a private company is legal if you follow the proper procedures for its formation. Foreign investors can set up a company in Pakistan, but a minimum of 2 shareholders is required. Any foreign national (except Israeli nationals) can set up a private company by following the procedure.
One major condition is that the registered address should be in Pakistan. Moreover, registering a limited liability company takes six weeks on average. The Board of Investment must also approve the registration, and clearance from the Ministry of the Interior is also required.
Public limited companies in Pakistan are registered under the Companies Ordinance 1984. There are two types of public limited companies.
A listed public company must have at least seven directors before it may offer shares to the general public and trade them on the stock market. To be listed on the Pakistan Stock Exchange, a company must meet the Pakistan Stock Exchange’s listing requirements.
A public corporation can be formed by three or more people who want to start a firm that will sell shares to the general public. Although a public firm must comply with certain legal requirements, it can sell its stock to the general public. To incorporate an unlisted business, a minimum of three directors is necessary. An unlisted company can issue shares to the general public on its counter, but shares cannot be sold on the stock exchange.
In Pakistan, anyone can start a single-member corporation. A single-member company, or “SMC,” is a private corporation with only one director, meaning only one person has the power to limit liability.
The introduction of the notion of a single-member corporation has made it easier for sole proprietorships to achieve corporate status, allowing them to restrict their proprietor’s liability.
All shares are vested with a single director. Still, the person is required to nominate two individuals, one of whom will serve as the nominee director in the event of the single member/death of the director's death, and the other will serve as the alternate nominee director in the event of the nominee director’s non-availability. A Single-Member Company must appoint a company secretary.