To start a business either on medium or large scale requires an official registration of company in Pakistan. So the process and requirements that How to Register a Company in Pakistan with full fill all requirements and documentation for any of private limited business. 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. Under the provisions of Companies Ordinances there are also some other requirements for the registration of a company that will also be discusses in the later part of this article.
Types of companies: the companies Ordinance has defined three different types of companies that are as follows.
- A company limited by shares.
- A company limited by guarantee.
- An unlimited liability company.
Various steps of the company registration procedure in Pakistan: To make it easy for you to understand the registration process, we have simplified it in few steps so that you would have better knowledge about each step and can act upon them in more proper way.
The applicants must comply with the incorporation process as follows if he want to understand that How to Register a Company in Pakistan.
- The first step is to choose the name of the company and get it approved. 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.
- After the approval of name the SECP will ask you to provide the following documents.
- 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. For this you have to get National Tax Number as per rule and complete the procedure.
- The last step is to register with ESSI, EOB and the labor department of district to complete the process.
This is a complete process that How to Register a Company in Pakistan so must go with these factors and hopefully one never need to go any where after visiting this page.