How to Register a Company in Pakistan
Registering a company in Pakistan is a systematic process that involves selecting a company type, choosing a name, preparing documentation, and registering with the Securities and Exchange Commission of Pakistan and Federal Board of Revenue. By following this guide and utilizing the provided resources, you should be well on your way to successfully establishing your business in Pakistan. Ensure to adhere to the requirements and guidelines to guarantee a smooth registration process and asuccessful start for your company in this dynamic and evolving market. With its growing economy and business-friendly policies, Pakistan offers a promising landscape for entrepreneurs and businesses alike. Remember, the key to a successful registration process is careful preparation and attention to detail, which will help you navigate the process with ease and efficiency.
Step 1: Choose your company type
The first step in registering a company in Pakistan is to choose the type of company you want to register. The most common types are:
- Private Limited Company
- Public Limited Company
- Single Member Company
- Foreign Company
Step 2: Choose a company name
Before registering your company, you'll need to choose a suitable name. The Securities and Exchange Commission of Pakistan (SECP) provides guidelines for acceptable names, which can be found at this link: https://www.secp.gov.pk
Step 3: Prepare the required documents
Next, prepare the necessary documentation for your chosen company type. The key documents are:
- Memorandum and Articles of Association
- Form 1: Declaration of Compliance
- Form 21: Notice of the situation of the office
- Form 29: Particulars of directors, secretary, chief accountant, auditors, and others
These forms can be downloaded from the SECP's website: https://www.secp.gov.pk
Step 4: Identify company officers and shareholders
You will need to identify at least two directors for Private Limited, Public Limited, and Single Member Companies, and at least one representative for a Foreign Company. Directors or representatives must be at least 18 years old. Shareholders can be individuals or corporate entities.
Step 5: Capital requirements
Pakistan does not have a set minimum capital requirement for companies. However, the capital should be adequate for the business's operational needs.
Step 6: Register your company
Once your documents are ready, you can submit your application to the Securities and Exchange Commission of Pakistan (SECP). This can be done in person at their office or online via the following link: https://eservices.secp.gov.pk/eServices
The fees for registering a company vary depending on the share capital and the type of company:
- Private Limited Company: PKR 1,000 - PKR 20,000 (approximately $6 - $120)
- Public Limited Company: PKR 2,000 - PKR 40,000 (approximately $12 - $240)
- Single Member Company: PKR 1,000 - PKR 20,000 (approximately $6 - $120)
- Foreign Company: PKR 25,000 (approximately $150)
Step 7: Register for taxes
After your company is registered, you must register for taxes with the Federal Board of Revenue (FBR). This can be done in person at the local Tax Office or online via the following link: https://iris.fbr.gov.pk
Step 8: Obtain necessary permits and licenses
Depending on your business activities, you may need to obtain additional permits or licenses. Check with the relevant authorities and industry regulators for specific requirements.
Time-frame:
The entire registration process, from preparing documents to receiving your Certificate of Incorporation, can take anywhere from 2 to 4 weeks, depending on the complexity of your application.
