Starting a business in Pakistan involves several steps and requirements. Understanding the process of Pakistan company registration can help you manage the legal and procedural steps smoothly.
Company Registration Steps
Registering a company in Pakistan involves the following steps:
Name Reservation: Choose a unique name for your company and get it reserved with the Securities and Exchange Commission of Pakistan (SECP).
Preparation of Documents: Prepare the necessary documents including Memorandum and Articles of Association, Form 1, and Form 21.
Submission to SECP: Submit the required documents along with the registration fee to the SECP office.
Verification and Approval: The SECP will verify your documents and, upon approval, issue a Certificate of Incorporation.
Tax Registration: Register your company for taxation purposes with the Federal Board of Revenue (FBR).
Opening Bank Account: Open a bank account in the name of your company and deposit the required share capital.
Obtain Business Licenses: Depending on your business activities, obtain any necessary licenses and permits from relevant authorities.
Cost of Registering a Company in Pakistan
The cost of registering a company in Pakistan can vary depending on factors such as the authorized capital and professional fees involved. Typically, this includes several components: Firstly, there’s the SECP fee, which is determined based on the company’s authorized capital. Secondly, there are legal and documentation costs, covering company registration fee in Pakistan associated with drafting essential legal documents like the Memorandum and Articles of Association. Additionally, there are miscellaneous expenses to consider, such as costs for name reservation, stamp duty, and notarization. These costs collectively contribute to the overall expenses incurred during the company registration process in Pakistan.
Requirements for Company Registration
To register a company in Pakistan, you need to fulfill the following requirements:
Directors: At least two directors for a private company and three for a public company.
Shareholders: Minimum of two shareholders.
Memorandum and Articles of Association: Draft and submit these documents outlining the company’s objectives and internal rules.
Registered Office: Provide a physical address within Pakistan for official correspondence.
Identification: Copies of CNIC/NICOP for directors and shareholders.
Paid-up Capital: Minimum paid-up capital requirements based on the type of company.
Documents Needed for Company Registration
Prepare the following documents for company registration in Pakistan:
Memorandum of Association: Defines company objectives and scope of operations.
Articles of Association: Outlines internal rules and regulations of the company.
Form 1 and Form 21: Application forms for company incorporation and address verification.
CNIC/NICOP Copies: Identification documents for directors and shareholders.
Proof of Registered Office: Utility bill or rental agreement for the registered office address.
