Registering a company with the Securities & Exchange Commission of Pakistan (SECP) can be very puzzling if you have no prior experience or complete knowledge. Breaking down the procedure into small straightforward steps will give you a greater understanding of the legal matters. It will also allow you to complete the process quicker. So, let’s look at the steps regarding how you can register a company in Pakistan.
Registering The Company Name
The first step is to decide your company’s name to register your business in Pakistan. It’s crucial to decide on an exclusive company name that will differentiate you from the competition. Furthermore, make sure that you do not replicate the name of any other organization or company.
Make sure to follow all the rules and do not use any prohibited words in the process of naming your company.
Once you have selected an exclusive name for your company, you can create an online account on SECP’s website and check the availability of the name.
If you can use your chosen company name then you may reserve it for your company by following the steps below:
Steps You Can Follow To Register A Company In Pakistan
- Sign in to e-services on the SECP website.
- Pakistani nationals should have a valid CNIC, and foreign nationals should have a valid passport.
- Select the ‘Fast Track Registration Services (FTRS)’ for same-day registration services.
- Give the necessary information on the online form and submit it.
- You will receive a security code on your phone or email, depending on which option you selected.
- A PIN will be produced, following the verification of the security code,
- A challan form will be produced, which can be used to deposit your payment in the selected branches of MCB or UBL.
- The fee can be paid online through your credit or debit card.
You will get validation in a day’s time, with the reservation of the company name on your ID. This is if the company name doesn’t have any words excluded.
If the website is not working, you could apply with three selected names at the registrar’s office.
The offline process usually takes 3 to 5 days to complete. You will be then permitted to use the registered name in official documents for your company.
Documents Required To Register A Company
You will be needing the following documents to register a company in Pakistan:
- Memorandum of Association and Articles of Association. Both of these documents are necessary for incorporating a company.
- Photocopies of CNICs of the CEO, nominee, directors or copy of passport in case of foreign nationals
- If you are intending to set up a specialized business, you will require a NOC or letter of intent from the concerned authority.
- If you intend to establish an international company, you will have to provide the following: details of the directors, their nationality, the company profile, and a certified copy of the company’s charter, accompanied by a Memorandum of Association and Articles of Association.
- Subscribers’ authorization to file documents
- Fee slip of registration
- The fee for company incorporation is Rs.1800 for online submission if the authorized share capital is less than Rs. 100,000. If you submit the company incorporation offline, you will only have to pay Rs. 3500.
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very informative.