Generally speaking, a public limited company has their shares offered to the general public. There are two types of public limited companies in Pakistan, For example, make sure that your company’s name does not include any. It is expected to grow by 17.2% by 2020. A video tutorial prepared by SECP for user registration at eServices is available here. The standard time for establishing a liaison office in Pakistan is seven (7) weeks. Deposit registration fee in designated branches of UBL and MCB , in case of online registration process begins as and when fee is deposited. A liaison office can only function according to the provisions of the contract or the assignment. For this reason, a common practice is to consider PKR 100,000 (~US$823) as the minimum capital. Post receiving the name availability certificate  from SECP , the applicants have to file an  application for incorporation. You will have a username and password. The registration is also subject to approval from the Board of Investment and you also need to obtain clearance from the Ministry of Interior. There are nice CRO (Company Registration Offices) in Pakistan which is mention in the header of the certificate. Private Limited Company Registration is more famous in Lahore and all over Pakistan as compared with other patterns of Business registration. Post receiving the name availability certificate from SECP , the applicants have to file an application for incorporation. Each Director needs to have either NIC or passport 4. Depending on the location of the business, the company will  need to register with. A sales tax registration number may be registered if applicable. 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. Besides product promotion, you can also provide technical advice and assistance, explore the various possibilities of joint collaboration, and export promotion in Pakistan. There is no official minimum capital requirement for private limited companies in Pakistan. The fees associated with the process can be paid by generating manual challan from this Challan link and submitting it alongwith a company registration application at the designated branches of MCB or UBL 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 … It is used to gather all the documents needed by SECP to incorporate your company. A digital signature is granted by the National Institutional Facilitation Technologies (NIFT) and can be acquired through the SECP. 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. Therefore, your activities depend on the contract you signed. To put simply, MOA tells about the relationship of your company with the outside world. For the professional tax, provided it applies, the company will have to register with Excise and Taxation (ET) Department of the District. The signature is granted by National Institutional Facilitation Technologies (NIFT) and can be obtained by using the electronic services of the SECP. A Case Study from Pakistan “Online Method” 2. Some of its prime benefits include low competition, a huge population, and a rapidly growing economy. PakWired.com is the most authentic source of technology news, entrepreneurial guidance, industry research and startup advice.. We have been working with Emerhib for over a year now. 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.) A name availability certificate is required … All company registrations and regulations are controlled by  the Companies Ordinance Act of 1984. Incorporation of a company  helps boost business for medium as well as large-scale business enterprises. STEP 1: COMPANY NAME RESERVATION First use SECP’s Company Name Search to check if your proposed name is available. 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”). Send the company kit to your address Your company original documents will be sent to your provided address via via mail (DHL/ TNT/ FedEX). 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. The function of administration of all companies is governed by the Securities and Exchange Commission of Pakistan and the Registrar of Companies appointed by the Securities and Exchange Commission of Pakistan (for the particular province) where such company is to be registered. For example, you can even import some products without acquiring an import license. 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. 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. Hence, it is similar to the branch office. 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). Jamapunji main purpose is to educate and aware public enabling them to avoid scams and frauds in … Any foreign national can be a shareholder in this kind of company, except for those coming from Israel. Get in touch with Emerhub by filling in the form below and our consultants will reach out to you within a few working hours. The shareholders can be of any nationality, except for Israeli nationals. Private Limited Company structure is suitable for the Persons who are starting the business on the initial stage because this pattern can get funding in … However, this depends on where the business started. This is the first step of company registration in Pakistan is choosing the company’s name. 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. Anyone can acquire the shares. More and more foreign investors recognize Pakistan as a market to invest in. In this article, you will get an overview of different legal entities that are available for foreign investors. Note: Only SECP (Securities Exchange Commission of Pakistan) has an authority to incorporate companies in the country. Foreign investors can set up fully foreign-owned private limited companies (LLCs) in Pakistan. Likewise (BESSI) or (KPKESSI) for Balochistan and Khyber Pakhtunkhwa respectively. They were very reliable and helpful in understanding the company registration process in Indonesia. Incorporation of a Company in Pakistan: Any three or more persons associated for lawful purpose may, by subscribing their names to the Memorandum of Association and complying with the requirements of the Companies Act 2017 form a public company and any one or more persons so associated may, in like manner, form a private company. 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. Unlike many other similar markets, Pakistan is very welcoming towards foreign investors. Now a days the government of pakistan give offer for online registration via Eservice ,SECP. The incorporation time of a limited liability company in Pakistan is generally six weeks. Shares must be subscribed by at least 500 applicants, The Step by Step Procedure of Private Limited Liability Company Registration in Pakistan. Aisyah & the team were proactive in keeping us up to date on the KITAS process and renewal cycle. We will also share the step-by-step guide to. Foreign investors, apart from Israeli nationals, can also set up a single member company in Pakistan with only one shareholder. SECP is sole regulator for capital market in Pakistan. The process of incorporation of a company takes place once the nature of business and the type of company has been decided. Therefore, once granted your permit will have a validity period of 1 to 5 years. The body responsible for the administration of the entire company registration and incorporation process is known as the Securities & Exchange Commission of Pakistan … Once the certificate of incorporation is received, a private company /single member company can start its function. Single Member Company Private Limited Company Public Limited Company In … Your National ID Card Color Scanned copy (For Pakistani Nationals) Passport in case of foreign Nationals. Each of these steps are explained below with their specific requirements. Step 2: Reservation of Company Name. It may be through a public offering or through trading in the stock market. Moreover, foreign investors can set up 100% foreign-owned companies in most business lines. 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”). Due to negative international reputation, the country has significantly opened up to foreign investment over the past years. SECP User ID • Mobile Number • CNIC • Address 3. Pakistan business setup costs in Year 1 amount to US$4,550 and annual company costs in Year 2 and thereafter amount to US$0. In reality, however, the paid up capital you inject must be in compliance with your planned expenses. However, a branch office cannot take part in any commercial or trading activities of whatever nature. A company limited by shares whether a private company or a public company is the most common vehicle for carrying out a business enterprise in Pakistan. The process of incorporating a company in Pakistan includes five basic steps. There are three ways to incorporate company in Pakistan. The contract restricts your activities. DISCLAIMER: Please be informed that “Jamapunji” is an investor education initiative of the Securities and Exchange Commission of Pakistan. To register a business in Pakistan you need to submit the incorporation documents to SECP. Unlike many other similar markets, Pakistan is very welcoming towards foreign investors. For joint venture company as Pakistan foreign company registration-formation: to register a company where local persons are appointed as nominee or representative director to start such business in Pakistan may need short time to complete whole procedure. Just like a limited liability company, you can also set up a single member company in Pakistan with PKR 100,000 (~US$ 823) of minimum capital. To incorporate a Private Limited or LLC company in Pakistan you will require the following document. Articles of Association lets know about the day-to-day proceedings within the company i.e. There are two types of public limited companies in Pakistan, unlisted and listed. Company registration  remains the most favoured form of business organisation in Pakistan. 1. Another requirement is that the registered address of the company’s office must be located in Pakistan. However, they may require you to submit more documents. While part of the contract states that you can only provide technical assistance and product promotion, you cannot engage in export promotion and other activities. In this article, you will get an overview of different legal entities that are available for foreign investors. Every industry or a commercial establishment with five or more employees has to be registered with the Federal Employees Old age Benefits Institution (EOBI). The minimum number of shareholders needed in order to register this kind of company is two. This is the SECP official guideline for choosing a name. After the registration, shareholders must deposit their corresponding amount of shares to the company’s bank account. eServices is an electric gathering service in Pakistan. Some of its prime benefits include low competition, a huge population, and a rapidly growing economy. If you are planning to invest in Pakistan, here are the types of legal entities that you can choose from. There are two ways to go about it: For an online submission, the applicants are required to create an account (username and password) under user registration system of eServices and generate PIN for signing the application. Process time for the registration takes up seven weeks. Since it is not a limited liability company, it does not require any minimum capital either. A big shout out to Aisyah for displaying a high level of professionalism. Create an account under the user registration system of eServices. Copy of permission letter is required to be attached with documents meant for registration. The company registration is administered and regulated by The Companies Act 2017 and The Companies Incorporation Regulations 2017. However, a branch office cannot take part in any commercial or trading activities of whatever nature. 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. Charter/Statute/Deed of incorporation of foreign company duly verified/attested by Embassy of Pakistan in the country of origin. Company Registration in Pakistan. 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). Also, the Board of Investment (BOI) needs to approve it. Pay the fees for incorporation and Register your company. Such permission with than be tendered along with requisite documents required for registration of Chinese / foreign Company. Due to negative international reputation, the country has significantly opened up to foreign investment over the past years. 3 (Fees and Certificate of Incorporation) After preparation of legal documents second step is payment of fees. There are two types of share capitals in Pakistan, paid-up capital and authorized capital. Branches carrying out a contract in Pakistan can be established. You will want to get some local advice as to how to best structure a company in Pakistan. However, take note that the actual minimum capital you need to inject depends on your planned expenses. Both capitals must be declared in the Articles of Association when you register your company. Bank account opening, Serviced office, license or Trademark application can be subsequently fulfilled at this time. For registration, employer must submit the application form A accompanied with the relevant bank form. This is the SECP official guideline for choosing a name, How to Register a Partnership in Pakistan, Copies of CNIC/NICOP of the subscribers/ directors/ chief executive officer/ nominee (for single member, NOC/Letter of Intent/ License (if any) of the relevant regulatory authority in case of a specialized business, In case the subscriber is a foreign company, the profile of the company, detail of its directors, their. 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). 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. 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. Therefore, there will be no shareholding since it’s going to be in the country of origin only. Company Incorporation in Pakistan Securities Exchange Commission of Pakistan is the sole regulator for company Registration in Pakistan. Branches carrying out a contract in Pakistan can be established. Company Name Reservation • Appropriate Name • Company Object • Name meaning and significance 4. 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 … You must follow the restrictions and guidelines. For this reason, a common practice is to consider PKR 100,000 (~US$823) as the minimum capital. Emerhub has years of experience with company registration in Pakistan. Also, they issue the certificate of incorporation. how to register a company in pakistan. . There are a lot of reasons why to invest in Pakistan. We have had our issues in the past with servicing and slow responses which is not the case now. How do I set up a limited company? To register for Income tax, the company will have to  to apply for a National Tax Number (NTN) at the tax facilitation of the Regional Tax Office (RTO) of the Federal Board of Revenue (FBR). E … A branch office is a suitable alternative to company registration if your company wants to have a presence in Pakistan without setting up a separate legal entity. Under the Employees Old Age Benefits Institution (EOBI), insured employees are entitled to a pension, upon retirement, invalidity in the case of disability, old-age grant and survivor’s pension. A foreign company is required to obtain a permission letter from Board of Investment, Government of Pakistan with a specific validity period for opening and maintaining business in Pakistan. In general, PKR 100,000 (~US$ 823) is considered to be the minimum capital requirement. How to incorporate a company in Pakistan 1. Moreover, … If you have an interest in e-commerce, telecommunications, or general business and technological advancements, you’ll love PakWired. 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. 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