To start a business either on medium or large scale requires an official registration of company in Pakistan. It will not only secures company’s name and good will but also helps in convincing the clients about the authenticity of a newly established business. Legal rules and regulations for the registration of companies Ordinance in 1984. The functions related to the administration of these companies are incorporate in Securities and Exchange Commission of Pakistan for a province of Pakistan where the company is to be registered.
As per companies Ordinance, 1984 a company is an integral body of a separate legal entity and a gradual progress of the company may be formed by persons associating with it for any legal purpose. They have to subscribe their names to the Memorandum and Articles of the Association. You have to be intelligent enough while giving an appropriated name to the company that it should not be a prohibited term because such names will not be approved by the SECP. The name should neither be same as the name of the exciting company nor closely resembling. Thus it is important to follow the criteria of naming company to get it approved by SECP. A name availability certificate is acquired from SECP for which you have to submit an application along with the fees that can be submitted through a challan form.
- Declaration of compliance.
- Particulars of board of directors and other important staff including auditors, accountants manager etc.
- Identification of the location of office.
- Photo copies of the memorandum and Articles of Association with the signature of each member.
- The next step is to get digital signature and make a company seal. The signature is granted by National institutional facilitation Technologies NIFT.
- Now its time to register for income, sales and professional taxes.
