For the professional tax, provided it applies, the company will have to register with Excise and Taxation (ET) Department of the District. 1. Once these requirements are met and vetted by SECP, the company is then ready to become an independent operating body in Pakistan and will be treated as such. To register a business in Pakistan you need to submit the incorporation documents to SECP. . At the completion of the process, the subscriber registering the company shall receive a Certificate of Incorporation issued electronically or in physical form. Now a days the government of pakistan give offer for online registration via Eservice ,SECP. STEP 1: COMPANY NAME RESERVATION First use SECP’s Company Name Search to check if your proposed name is available. Under the provisions of the Companies Ordinance, 1984 a company is a corporate body with separate legal entity and a perpetual succession. For this reason, a common practice is to consider PKR 100,000 (~US$823) as the minimum capital. We will also share the step-by-step guide to company registration in Pakistan. It may take 2 to 5 working days to deliver the company kit after your company is incorporated. In this article, you will get an overview of different legal entities that are available for foreign investors. If you want to promote your products in Pakistan, you can set up a 100% foreign-owned liaison office here. Company Incorporation in Pakistan Securities Exchange Commission of Pakistan is the sole regulator for company Registration in Pakistan. How do I set up a limited company? The requirements for this application include: Sales tax, like the income tax can be registered for, by applying for a Sales Tax Number (STN) at the tax facilitation centre of RTO of FBR. This makes the whole process easier and faster. In this article, you will get an overview of different legal entities that are available for foreign investors. First step towards incorporation of a company is to submit a combined or a separate application for the reservation of Company’s name and incorporation either through e-services or in physical form as per the formats provided in the Companies (Incorporation) Regulations, 2017 (the “Regulations”). There are nice CRO (Company Registration Offices) in Pakistan which is mention in the header of the certificate. This is the SECP official guideline for choosing a name. For example, make sure that your company’s name does not include any prohibited words. Unlike many other similar markets, Pakistan is very welcoming towards foreign investors. If you decide, may be after taking professional advice, that a limited company is the best thing for your business, you can incorporate a company with the CRO under the provisions of the Companies Ordinance, 1984. Institution, Travel agency, Trading or manufacturing, Supply or chain of stores. We have had our issues in the past with servicing and slow responses which is not the case now. A company limited by shares whether a private company or a public company is the most common vehicle for carrying out a business enterprise in Pakistan. Prior approval of the relevant Ministries/Departments is required to be obtained before incorporation of the following companies: To put simply, MOA tells about the relationship of your company with the outside world. You will want to get some local advice as to how to best structure a company in Pakistan. Hence, it is similar to the branch office. After submitting the documents, the SECP evaluates them. We help businesses incorporate or form private limited companies (known as limited liability companies or as LLC in many countries). Each Director needs to have either NIC or passport Incorporation.pk provides services to established and upcoming businesses in Pakistan relating to registrations, taxation, accounting, filing and other compliance matters. Since it is not a limited liability company, it does not require any minimum capital either. Company registration  remains the most favoured form of business organisation in Pakistan. Generally speaking, a public limited company has their shares offered to the general public. In general, PKR 100,000 (~US$ 823) is considered to be the minimum capital requirement. Branches carrying out a contract in Pakistan can be established. Articles of Association lets know about the day-to-day proceedings within the company i.e. The incorporation time of a limited liability company in Pakistan is generally six weeks. We have been working with Emerhib for over a year now. Post receiving the name availability certificate  from SECP , the applicants have to file an  application for incorporation. Some of its prime benefits include low competition, a huge population, and a rapidly growing economy. Get in touch with Emerhub by filling in the form below and our consultants will reach out to you within a few working hours. Aisyah & the team were proactive in keeping us up to date on the KITAS process and renewal cycle. Once your company name gets approved, the second important step you need to take to register a company in Pakistan is the submission of incorporation documents to the Security & Exchange Commission of Pakistan (SECP), which are listed below. The permit can be valid for 1 to 5 years if it has an approval from the Board of Investment (BOI). The procedure of registering a public limited company is same as above. It is important to devise a unique company name that would set you apart from the rest in the industry. A sales tax registration number may be registered if applicable. And hence, these are the essential requirements for company registration in Pakistan (incorporation of company, register a company, registering a business, register company name, trademark registration in Pakistan). SECP User ID • Mobile Number • CNIC • Address 3. How to incorporate a company in Pakistan 1. All company registrations and regulations are controlled by  the Companies Ordinance Act of 1984. They check their validity. Therefore, there will be no shareholding since it’s going to be in the country of origin only. There are a lot of reasons why to invest in Pakistan. This is another compulsory component of company registration process in Pakistan. Document submission: On receipt of the above, Healy Consultants will i) complete the statutory incorporation forms (see checklist below), ii) prepare the Memorandum and Articles of Association and submit all the documents to the SECP for company incorporation; Compliance check and company registration: The SECP will forward the details of all prospective foreign directors and shareholders to … The Securities and Exchange Commission of Pakistan is a regulator established with the objective of developing a modern and efficient corporate sector, insurance, NBFCs and capital markets. Due to negative international reputation, the country has significantly opened up to foreign investment over the past years. Charter/Statute/Deed of incorporation of foreign company duly verified/attested by Embassy of Pakistan in the country of origin. If you have an interest in e-commerce, telecommunications, or general business and technological advancements, you’ll love PakWired. It is expected to grow by 17.2% by 2020. All you need to send us to get started is: Contact us via the form below and our consultants will gladly assist you with your company registration in Pakistan. The commission issues incorporation certificate when all requirements are met by promoter(s) as per law. Presentation of the company may be needed. Post payment of the fee, SECP then requires the applicant to submit the following documents: Memorandum of Association explains the business sector of your company e.g. Moreover, … Therefore, once granted your permit will have a validity period of 1 to 5 years. PakWired.com is the most authentic source of technology news, entrepreneurial guidance, industry research and startup advice.. DISCLAIMER: Please be informed that “Jamapunji” is an investor education initiative of the Securities and Exchange Commission of Pakistan. Although, it sounds simple enough, but there are certain prohibitions and restrictions, the applicants have to look into while choosing a name for a company. Copies of  the Memorandum and Articles of Association with each member’s signature, where: Copies of National Identity Cards (NICs) of companies’ Directors, Punjab Employees Social Security Institutions (PESSI), Sindh Employees Social Security Institution (SESSI). However, a branch office cannot take part in any commercial or trading activities of whatever nature. Besides product promotion, you can also provide technical advice and assistance, explore the various possibilities of joint collaboration, and export promotion in Pakistan. To register for Income tax, the company will have to  to apply for a National Tax Number (NTN) at the tax facilitation of the Regional Tax Office (RTO) of the Federal Board of Revenue (FBR). eServices is an electric gathering service in Pakistan. We update our articles accordingly. Jamapunji main purpose is to educate and aware public enabling them to avoid scams and frauds in … The signature is granted by National Institutional Facilitation Technologies (NIFT) and can be obtained by using the electronic services of the SECP. A company may be formed by persons associating for any lawful purpose by subscribing their names to the Memorandum and Articles of Association and complying with other requirements for registration of a company under the provisions of the Ordinance. Bank account opening, Serviced office, license or Trademark application can be subsequently fulfilled at this time. Policy Board Commission Senior Management ... Company Incorporation Fee Calculator. Some of its prime benefits include low competition, a huge population, and a rapidly growing economy. However, they may require you to submit more documents. Each of these steps are explained below with their specific requirements. Single Member Company Private Limited Company Public Limited Company In … A liaison office can only function according to the provisions of the contract or the assignment. Some of its prime benefits include low competition, a huge population, and a rapidly growing economy. Alternatively, the print out of the fee challan can be submitted in the designated branch of MCB or UBL. In this article, you will get an overview of different legal entities that are available for foreign investors. She is prompt and on point with her responses. Both capitals must be declared in the Articles of Association when you register your company. Company Registration Process Step No. Anyone can acquire the shares. The shareholders can be of any nationality, except for Israeli nationals. Send the company kit to your address Your company original documents will be sent to your provided address via via mail (DHL/ TNT/ FedEX). Likewise (BESSI) or (KPKESSI) for Balochistan and Khyber Pakhtunkhwa respectively. The minimum number of shareholders needed in order to register this kind of company is two. The contract restricts your activities. According to the Companies Ordinance, 1984 there can be three different types of companies: The following steps needs to be followed to create and register a company in Pakistan. Copy of permission letter is required to be attached with documents meant for registration. Once the company name gets the approval, you need to submit the incorporation documents to the Securities and Exchange Commission of Pakistan (SECP). You just give your needed documents, sit and relax. SECP is sole regulator for capital market in Pakistan. The body responsible for the administration of the entire company registration and incorporation process is known as the Securities & Exchange Commission of Pakistan … In conclusion, the last step of company registration in Pakistan is the registration with the Federal Board of Revenue (FBR) and issuance of a national tax number (NTN). You will have a username and password. There are two types of public limited companies in Pakistan, For example, make sure that your company’s name does not include any. Form 1 can be downloaded from Securities and Exchange Commission of Pakistan website. The process of registration of a company is not complicated and if the rules set by the government of Pakistan are followed properly then one can easily register a company in Pakistan. A Case Study from Pakistan “Online Method” 2. We will also share the step-by-step guide to company registration […]. Foreign investors can set up fully foreign-owned private limited companies (LLCs) in Pakistan. Process time for the registration takes up seven weeks. Form 21: Form 21 is the form whereby the address of company undergoing the process of company registration in Pakistan is notified to the registrar. Also, the Board of Investment (BOI) needs to approve it. Just like a limited liability company, you can also set up a single member company in Pakistan with PKR 100,000 (~US$ 823) of minimum capital. A name availability certificate is required … Private Limited Company Registration is more famous in Lahore and all over Pakistan as compared with other patterns of Business registration. However, take note that the actual minimum capital you need to inject depends on your planned expenses. It is used to gather all the documents needed by SECP to incorporate your company. Supportive staff from Emerhub made the incorporation process of my company easier and faster. A digital signature is granted by the National Institutional Facilitation Technologies (NIFT) and can be acquired through the SECP. You must follow the restrictions and guidelines. Those shares are with limited liability. In reality, however, the paid up capital you inject must be in compliance with your planned expenses. After the registration, shareholders must deposit their corresponding amount of shares to the company’s bank account. On the other hand, authorized capital is the maximum amount of share capital that the company is allowed to authorize to issue to its shareholders. For example, you can even import some products without acquiring an import license. Moreover, foreign investors can set up 100% foreign-owned companies in most business lines. Steps In Company Registration 1st Step: Name that company SECP does not allow name that is otherwise inappropriate, deceptive or designed to exploit religious susceptibilities, neither is identical nor closely resembling with the name of an existing company. Another requirement is that the registered address of the company’s office must be located in Pakistan. We do not sell or recommend any investment product. Incorporation of a company  helps boost business for medium as well as large-scale business enterprises. how to register a company in pakistan. There are two types of public limited companies in Pakistan, unlisted and listed. A video tutorial prepared by SECP for user registration at eServices is available here. A branch office is a suitable alternative to company registration if your company wants to have a presence in Pakistan without setting up a separate legal entity. Shares must be subscribed by at least 500 applicants, The Step by Step Procedure of Private Limited Liability Company Registration in Pakistan. A foreign company is required to obtain a permission letter from Board of Investment, Government of Pakistan with a specific validity period for opening and maintaining business in Pakistan. We will also share the step-by-step guide to. There are two ways to go about it: They were very reliable and helpful in understanding the company registration process in Indonesia. Since it is not a limited liability company, it does not require any minimum capital either. The registration is also subject to approval from the Board of Investment and you also need to obtain clearance from the Ministry of Interior. However, this type cannot engage in commercial or trading activities and it is not subject to any minimum capital either. Paid up capital is the amount of money that the company receives from its shareholders. Unlike many other similar markets, Pakistan is very welcoming towards foreign investors. How to Incorporate a Company? Any foreign national can be a shareholder in this kind of company, except for those coming from Israel. Once the certificate of incorporation is received, a private company /single member company can start its function. Letter of authorization/legalization in favor of principal officer in Pakistan duly notarized/attested by the public office maintained and by the Embassy of Pakistan in … Therefore, your activities depend on the contract you signed. In March 2018, for example, foreign investment in Pakistan increased by USD 152.7. There is no official minimum capital requirement for private limited companies in Pakistan. It may be through a public offering or through trading in the stock market. For this reason, a common practice is to consider PKR 100,000 (~US$823) as the minimum capital. A digital signature is granted by the National Institutional Facilitation Technologies (NIFT) and can be acquired through the SECP. 3 (Fees and Certificate of Incorporation) After preparation of legal documents second step is payment of fees. Company Registration in Pakistan. A foreign company shall obtain from Board of Investment (BOI), Government of Pakistan a permission letter with a specific validity period for establishing and maintaining a business in Pakistan. The Step-by-Step Guide to Company Registration in Pakistan, Foreign Investor's Guide to Taxes in Pakistan, What You Need to Know About Visas in Pakistan. More and more foreign investors recognize Pakistan as a market to invest in. Such permission with than be tendered along with requisite documents required for registration of Chinese / foreign Company. There are three ways to incorporate company in Pakistan. Once you submit the process as per the guidelines suggested in the video, you can now pay the fees associated with company registration process by credit card, debit card or online funds transfer (the online transfer facility is available for Muslim Commercial Bank (MCB) and United Bank Limited (UBL) account holders only.) what role CEO and directors would play, business concerned meetings and the appointments of employees, in short- how the company will run. To safeguard the labor standard of the workers, all company’s are required to registration with the District Chief Inspector of the labor department in each district. The standard time for establishing a liaison office in Pakistan is seven (7) weeks. Emerhub has years of experience with company registration in Pakistan. After the certificate of incorporation is issued, the company representatives may be  required to present a company seal, depending on the where the business will be head quartered or started. 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