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NAZ Intellectuals Services has handled numerous company registrations in Pakistan. We can proudly say that we have handled the registration process of every industry ranging from health and care related companies to manufacturing related companies and several others in different cities including Karachi, Lahore, Islamabad, and all others in Pakistan.
The Step-by-Step Guide to Company Registration in 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.
Naz Intellectuals Services is a law firm which is helping business owners in the process of company registration in Pakistan. The process of company registration with SECP is essential to follow, and our professionals can help you with that. However, we’ve put together a quick and easy step-by-step guide on how to register your business in Pakistan.
Step 1: Approval of Company Name
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.
Step 2: Submission of Documents
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).
Step 3: Certificate of Incorporation
The SECP reviews the documents when they are submitted. 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 to issue the certificate of incorporation. It’s possible that a company presentation is required. But, this depends on the origins of the company.
Step 4: Deposit of Shares
Once the company registration is done, it is significant for the shareholders to deposit their shares in the company’s bank account in the appropriate amount.
Step 5: Registration of Income, Sales, and Professional Taxes
How To Start With Company Registration in Pakistan?
If you want to register a company in Pakistan, contact the professionals at Naz Intellectual Services, and we’ll take care of the process for you.
Call Us Now at +92 332 3746158 or email us at email@example.com to get free and professional consultancy on company registration in Pakistan.
Types of Legal Companies in Pakistan
Private Limited Company
In Pakistan, a private limited company is a prominent business structure. Owning a private company is legal if you follow the correct procedure of setting up your company. Foreign investors can set up their company in Pakistan but a minimum of two shareholders are needed for this purpose. Any foreign nationality (apart from Israel) can set up their private company by following the procedure.
One major condition is that the registered address should be of Pakistan. Moreover, registering a limited liability company takes six weeks on average. The registration must also be approved by the Board of Investment, and clearance from the Ministry of the Interior is also required.
Public Limited Company
Public limited companies in Pakistan are registered under 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. In order 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 are necessary. An unlisted company can issue shares to the general public on its counter, but shares cannot be sold on the stock exchange.
Single Member Limited Company
In Pakistan, anyone can start a single-member corporation. A single member company, or “SMC,” is a private corporation with only one director and this means only one man 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, but the person is required to nominate two individuals, one of whom will serve as nominee director in the event of the single member/death, director’s and the other will serve as alternate nominee director in the event of the nominee director’s non-availability, and the Single-Member Company is supposed to appoint a company secretary.
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