A Complete Guide on Business Registration in Pakistan

  • 4 months ago
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How to Reserve Business Name Online

How to Register a corporation Online

Online name Reservation

Required Company Information

How Much Money is required to Register a Business

Documents Required for Business Registration

Company Incorporation Certificate

Registering Your Company with FBR

List of Company Registration Offices

FAQs About Registering a corporation

Established to manage and modernize the company sector, the Securities and Exchange Commission of Pakistan (SECP) has been given due importance in terms of the digitization initiatives recently introduced by the govt of Pakistan. This state-owned regulatory authority is now digitally powered by a fully-featured online portal, which aims to facilitate the businessmen within the country.

So, if you’re an aspiring entrepreneur, who is getting to register a corporation in Pakistan, you’ll now easily apply for the method online rather than browsing the effort of submitting a physical application. Wondering how? We’ve got you covered. during this blog, we are getting to detail both online and offline processes for business registration in Pakistan as per SECP guidelines.

Now, without further ado, let’s get started!

HOW TO REGISTER a corporation IN PAKISTAN: STEP-BY-STEP GUIDE

There are four key steps that you simply got to follow so as to register a corporation in Pakistan

The process of company registration in Pakistan might take around 1.5 months to urge completed. it’s supported a couple of vital steps, each of which has its own specific requirements that are elaborated below.

BUSINESS NAME RESERVATION

It is the primary and most vital step for the incorporation of a corporation . you’ll either choose a web process or submit an application physically. Details about online application and process are available at the official website of SECP.

CREATING AN ACCOUNT ON SECP ONLINE PORTAL

• So, if you would like to register your business in Pakistan online, you’d require you to check in on the SECP’s e-portal.

• As a replacement user, you would like to click on the “Sign up for National or Foreign/POC holder” option.

• Now you would like to fill out the shape with the specified information.

• After filling out the shape , you’ll be given a 4-digit personal identification number via email and SMS.

• It is vital to say here that the CNIC/passport number and password provided while signing abreast of the portal are going to be your credentials to access the portal.

SELECT the choice OF NAME RESERVATION AND COMPANY INCORPORATION

• Upon successfully logging into the portal, you’ll need to click on “Name Reservation and Company Incorporation” from the available options.

• Now propose three names of your company. The name should be relevant to the character of your business.

• Define the character of your business and its operations by selecting the relevant option from the menu .

• Select the mode of payment from the given choice to make payment through debit/credit card, banks with 1link facility, Easy paisa mobile wallet, ATM, and mobile/internet banking.

PROVIDE YOUR COMPANY INFORMATION and get in touch with DETAILS

In this particular section, enter your company information and addresses of its registered establishments/offices, phone number , email address, and also define its field of business.

WHAT IS THE CAPITAL REQUIREMENT TO REGISTER A BUSINESS IN PAKISTAN?

A company cannot raise more or less capital as defined by the memorandum of its incorporation. it’s referred to as the authorized capital. The minimum amount of authorized capital for the incorporation and registration of a corporation in Pakistan is PKR 100,000. A total incorporation fee of PKR 1,800 is charged within the case of online submission and PKR 3,500 for a physical application. it’s the minimum incorporation fee charged on the business capital worth PKR 100,000. However, the fee may vary consistent with the quantity , location, size, and/or nature of the business.

PROCESS FOR PHYSICAL APPLICATION FOR COMPANY INCORPORATION

• The step-by-step procedure for the physical submission of the appliance to SECP is as follows

• First of all, download by clicking on the given link and fill out the specified form .

• You got to submit the appliance to a registrar by visiting your nearest company registration office, which may be found at multiple locations in nine different cities. Details of Company Registration Offices (CROs) established by SECP across the country are provided at the top of this blog.

• If your application satisfies the specified conditions, the registrar will then issue a reputation availability letter. From the date of issuance of the letter, the name are going to be reserved for sixty days (two months), which is enough time window to finish the method of incorporation of a corporation in Pakistan. Pro Tip: Favoring a web application over the physical one could also be a sensible decision for you because it may cost you but half the quantity charged for the submission of a physical application. for instance , if you submit an application online, you’ll be charged PKR 200.
On the opposite hand, if you accompany the manual process, you’ll need to pay PKR 500 as charges for a bank challan made within the favour of the Securities and Exchange Commission of Pakistan (SECP). Furthermore, as discussed, the incorporation fee also gets doubled if you’re registering your business with the assistance of a physical application. It looks like the authorities are determined to market the concept of e-governance in Pakistan by discouraging conventional practices.

SUBMISSION OF DOCUMENTS OF INCORPORATION

To register a business in Pakistan you would like to submit the incorporation documents to SECP

Once your name gets approved, the second important step you would like to require to register a corporation in Pakistan is that the submission of incorporation documents to the safety & Exchange Commission of Pakistan (SECP), which are listed below.

• Memorandum of Association

• Articles of Association

• Scanned version of the Directors’ CNICs

• Scanned Receipt of deposit (In case of Offline Payment)

• Authorization by the subscribers for the filing of documents

• Registration/Filing Fee

Memorandum of Association: A document that contains details about your business

Article of Association: A document that specifies the responsibilities of the company’s directors.

Note: The above-mentioned document also can be submitted using SECP’s e-portal in PDF Format. Company registration fee in Pakistan also can be paid online.

ISSUANCE OF A DIGITAL SIGNATURE & CERTIFICATE OF INCORPORATION

Once you get through with document submission and payment of company registration fee in Pakistan, SECP evaluates and verifies the validity of all the submitted documents. Afterwards, the National Institutional Facilitation Technologies (NIFT) grants a digital signature for your business, which may be acquired through SECP’s e-portal.

Alongside digital signature, you’ll also got to fetch the certificate of incorporation from NIFT, that you’re required to submit an in depth presentation regarding your company’s nature of business and operations. However, the wants during this step may vary from case to case.

REGISTER YOUR BUSINESS WITH FBR FOR TAXATION

In order to register your business for tax , you would like to use for the National Tax Number

This is a really crucial and one among the previous couple of steps within the process of company registration in Pakistan. So, so as to register your business with the Federal Board of Revenue (FBR) for tax , you would like to use for the National Tax Number.

Following are the mandatory requirements that you simply got to submit along side your application.

• National Tax Number (NTN) form

• Proof of Your Company’s Registration

• Memorandum and Articles of Association

• Bank Account Number

• Copies of Computerized National Identity Cards (CNICs) of the administrators of the corporate

• Verified address

Submit your application at your nearest Regional Tax Office (RTO) tax facilitation counter of the Federal Board of Revenue.

To register your business for nuisance tax , you would like to accumulate a nuisance tax Number (STN) and undergo an identical process. However, the procedure for Professional Tax may be a bit different, that you’ll got to register your business with Excise and Taxation (ET) Department.

LIST COMPANY REGISTRATION OFFICES (CRO’S) OF SECP ACROSS PAKISTAN

City Company Registration Office Address Contact

Islamabad NIC Building, 63 Jinnah Avenue Blue Area, 051 9207091-4

Faisalabad 2nd Floor, FCCI Building, East Canal Road 041 9230264

Karachi State Life Building No 2,4th Floor, I.I. Chandigarh Road 021 99213271-2

Lahore 3rd &4th Floor, Associated House, 7-Egerton Road 042 99204962-6

Multan 63-A, 2nd Floor, Nawa-I-Waqt Building, Abdali Road 061 9200530

Peshawar 1st Floor, State Life Building, The Mall, Cantt 091 9213178

Quetta Ground Floor, Aiwan-i-Mashriq Building, Shara-e-Hali 081 2844136

Sukkur House No 4, Block A, Smchs, Airport Road 071 5630517 Gilgit Adjacent To NHA Office, Ayub Colony, Jattial 05811 922572

FREQUENTLY ASKED questions on REGISTERING a corporation IN PAKISTAN

HOW am i able to REGISTER alittle BUSINESS IN PAKISTAN?

No matter how small or big your business is, you’ve got to follow all the aforementioned steps to urge it incorporated with SECP.

HOW MUCH DOES IT COST TO REGISTER a corporation IN PAKISTAN? To register a business, you would like to start out it with the authorized capital of a minimum of PKR 100,000, that SECP charges you PKR 1,800 for online application and PKR 3,500 for offline application submission. As discussed, the incorporation fee basically depends on the capital amount, location, size, and/or nature of the business.

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