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how to incorporate a company in pakistan

We have been working with Emerhib for over a year now. Generally speaking, a public limited company has their shares offered to the general public. E … The process of incorporating a company in Pakistan includes five basic steps. If you are planning to invest in Pakistan, here are the types of legal entities that you can choose from. 3 (Fees and Certificate of Incorporation) After preparation of legal documents second step is payment of fees. However, a branch office cannot take part in any commercial or trading activities of whatever nature. A sales tax registration number may be registered if applicable. The contract restricts your activities. At the completion of the process, the subscriber registering the company shall receive a Certificate of Incorporation issued electronically or in physical form. We update our articles accordingly. In general, PKR 100,000 (~US$ 823) is considered to be the minimum capital requirement. 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. This makes the whole process easier and faster. Aisyah & the team were proactive in keeping us up to date on the KITAS process and renewal cycle. In this article, you will get an overview of different legal entities that are available for foreign investors. DISCLAIMER: Please be informed that “Jamapunji” is an investor education initiative of the Securities and Exchange Commission of Pakistan. However, take note that the actual minimum capital you need to inject depends on your planned expenses. Incorporation of a company  helps boost business for medium as well as large-scale business enterprises. It is used to gather all the documents needed by SECP to incorporate your company. 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. We do not sell or recommend any investment product. The registration is also subject to approval from the Board of Investment and you also need to obtain clearance from the Ministry of Interior. How to Incorporate a Company? To incorporate a Private Limited or LLC company in Pakistan you will require the following document. 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. There are two types of share capitals in Pakistan, paid-up capital and authorized capital. The body responsible for the administration of the entire company registration and incorporation process is known as the Securities & Exchange Commission of Pakistan … You can apply for a National Tax Number (NTN) at the Regional Tax … Form 1 can be downloaded from Securities and Exchange Commission of Pakistan website. 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). Some of its prime benefits include low competition, a huge population, and a rapidly growing economy. For the professional tax, provided it applies, the company will have to register with Excise and Taxation (ET) Department of the District. After successful creation of User Ids for every subscriber of proposed company, first step towards incorporation of a Company is to seek availability of name from the Registrar concerned in terms of section 37 of the Companies Ordinance, 1984. Likewise (BESSI) or (KPKESSI) for Balochistan and Khyber Pakhtunkhwa respectively. How to incorporate a company in Pakistan 1. It may take 2 to 5 working days to deliver the company kit after your company is incorporated. If you want to promote your products in Pakistan, you can set up a 100% foreign-owned liaison office here. 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 … We will also share the step-by-step guide to. We help businesses incorporate or form private limited companies (known as limited liability companies or as LLC in many countries). You will have a username and password. 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. There are two ways to go about it: Presentation of the company may be needed. Company Registration in Pakistan. Some of its prime benefits include low competition, a huge population, and a rapidly growing economy. Process time for the registration takes up seven weeks. Emerhub has years of experience with company registration in Pakistan. A digital signature is granted by the National Institutional Facilitation Technologies (NIFT) and can be acquired through the SECP. SECP is sole regulator for capital market in Pakistan. Copy of permission letter is required to be attached with documents meant for registration. Therefore, there will be no shareholding since it’s going to be in the country of origin only. The standard time for establishing a liaison office in Pakistan is seven (7) weeks. 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. This is the first step of company registration in Pakistan is choosing the company’s name. In this article, you will get an overview of different legal entities that are available for foreign investors. Moreover, … This is the SECP official guideline for choosing a name. Company Name Reservation • Appropriate Name • Company Object • Name meaning and significance 4. Company Incorporation in Pakistan Securities Exchange Commission of Pakistan is the sole regulator for company Registration in Pakistan. Since it is not a limited liability company, it does not require any minimum capital either. You just give your needed documents, sit and relax. For example, if you plan on building a factory for your business, you must also have sufficient capital for that. Since it is not a limited liability company, it does not require any minimum capital either. 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 … 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. For this reason, a common practice is to consider PKR 100,000 (~US$823) as the minimum capital. Every industry or a commercial establishment with five or more employees has to be registered with the Federal Employees Old age Benefits Institution (EOBI). Although one needs to fulfil all mentioned requirements but need a lawyer or entity to register company name. The process of incorporation of a company takes place once the nature of business and the type of company has been decided. The shareholders can be of any nationality, except for Israeli nationals. Now a days the government of pakistan give offer for online registration via Eservice ,SECP. 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. The procedure of registering a public limited company is same as above. 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. We have had our issues in the past with servicing and slow responses which is not the case now. STEP 1: COMPANY NAME RESERVATION First use SECP’s Company Name Search to check if your proposed name is available. This is another compulsory component of company registration process in Pakistan. Deposit registration fee in designated branches of UBL and MCB , in case of online registration process begins as and when fee is deposited. 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. Send the company kit to your address Your company original documents will be sent to your provided address via via mail (DHL/ TNT/ FedEX). 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. 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). 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. Private Limited Company Registration is more famous in Lahore and all over Pakistan as compared with other patterns of Business registration. Jamapunji main purpose is to educate and aware public enabling them to avoid scams and frauds in … 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”). To register a business in Pakistan you need to submit the incorporation documents to SECP. However, this depends on where the business started. There are three ways to incorporate company in Pakistan. Articles of Association lets know about the day-to-day proceedings within the company i.e. Foreign investors, apart from Israeli nationals, can also set up a single member company in Pakistan with only one shareholder. She is prompt and on point with her responses. 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). If you have an interest in e-commerce, telecommunications, or general business and technological advancements, you’ll love PakWired. There are a lot of reasons why to invest in Pakistan. For example, you can even import some products without acquiring an import license. Create an account under the user registration system of eServices. 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. Both capitals must be declared in the Articles of Association when you register your company. Single Member Company Private Limited Company Public Limited Company In … A video tutorial prepared by SECP for user registration at eServices is available here. 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. Branches carrying out a contract in Pakistan can be established. It is important to devise a unique company name that would set you apart from the rest in the industry. There are a lot of reasons why to invest in Pakistan. Pay the fees for incorporation and Register your company. Each Director needs to have either NIC or passport Any foreign national can be a shareholder in this kind of company, except for those coming from Israel. Note: Only SECP (Securities Exchange Commission of Pakistan) has an authority to incorporate companies in the country. The signature is granted by National Institutional Facilitation Technologies (NIFT) and can be obtained by using the electronic services of the SECP. Besides product promotion, you can also provide technical advice and assistance, explore the various possibilities of joint collaboration, and export promotion in Pakistan. Post receiving the name availability certificate from SECP , the applicants have to file an application for incorporation. how to register a company 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. They check their validity. A digital signature is granted by the National Institutional Facilitation Technologies (NIFT) and can be acquired through the SECP. After the registration, shareholders must deposit their corresponding amount of shares to the company’s bank account. 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.) Once the certificate of incorporation is received, a private company /single member company can start its function. 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, your activities depend on the contract you signed. A liaison office can only function according to the provisions of the contract or the assignment. A name availability certificate is required … Moreover, foreign investors can set up 100% foreign-owned companies in most business lines. However, they may require you to submit more documents. There are nice CRO (Company Registration Offices) in Pakistan which is mention in the header of the certificate. what role CEO and directors would play, business concerned meetings and the appointments of employees, in short- how the company will run. For example, you can even import some products without acquiring an import license. 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. It may be through a public offering or through trading in the stock market. Shares must be subscribed by at least 500 applicants, The Step by Step Procedure of Private Limited Liability Company Registration in Pakistan. 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. 4. All company registrations and regulations are controlled by  the Companies Ordinance Act of 1984. 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. However, a branch office cannot take part in any commercial or trading activities of whatever nature. The incorporation time of a limited liability company in Pakistan is generally six weeks. Therefore, once granted your permit will have a validity period of 1 to 5 years. 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. Name, addresses, and shareholding of each of the shareholders. eServices is an electric gathering service in Pakistan. The information presented continues to change depending on the laws and amendments made in Pakistan. The permit can be valid for 1 to 5 years if it has an approval from the Board of Investment (BOI). Company registration  remains the most favoured form of business organisation in Pakistan. Charter/Statute/Deed of incorporation of foreign company duly verified/attested by Embassy of Pakistan in the country of origin. Some of its prime benefits include low competition, a huge population, and a rapidly growing economy. Depending on the location of the business, the company will  need to register with. The standard time of incorporation is four weeks and also make sure that the registered address of the company will be in Pakistan. To register a company in Pakistan, you must have a National Tax Number (NTN). The average fee per Pakistan company formation engagement amounts to US$19,950, which includes company incorporation and opening a local corporate bank account and all Government fees. The parent company owns 100% of the branch office in the country of origin. Unlike many other similar markets, Pakistan is very welcoming towards foreign investors. Company Registration Process Step No. 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. Hence, it is similar to the branch office. There are two types of public limited companies in Pakistan, For example, make sure that your company’s name does not include any. Supportive staff from Emerhub made the incorporation process of my company easier and faster. 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. 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. For example, make sure that your company’s name does not include any prohibited words. PakWired.com is the most authentic source of technology news, entrepreneurial guidance, industry research and startup advice.. Anyone can acquire the shares. 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. 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. Once the company name gets the approval, you need to submit the incorporation documents to the Securities and Exchange Commission of Pakistan (SECP). SECP User ID • Mobile Number • CNIC • Address 3. The company registration is administered and regulated by The Companies Act 2017 and The Companies Incorporation Regulations 2017. The contract restricts your activities. Policy Board Commission Senior Management ... Company Incorporation Fee Calculator. We will also share the step-by-step guide to company registration 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. Also, the Board of Investment (BOI) needs to approve it. Unlike many other similar markets, Pakistan is very welcoming towards foreign investors. 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. In March 2018, for example, foreign investment in Pakistan increased by USD 152.7. It is expected to grow by 17.2% by 2020. Those shares are with limited liability. Paid up capital is the amount of money that the company receives from its shareholders. The first step towards incorporation of a company is to seek the “availability of name” for the proposed company from the concerned registrar of companies. Get in touch with Emerhub by filling in the form below and our consultants will reach out to you within a few working hours. Alternatively, the print out of the fee challan can be submitted in the designated branch of MCB or UBL. 1. However, this type cannot engage in commercial or trading activities and it is not subject to any minimum capital either. 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. 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. Institution, Travel agency, Trading or manufacturing, Supply or chain of stores. A big shout out to Aisyah for displaying a high level of professionalism. You must follow the restrictions and guidelines. You will want to get some local advice as to how to best structure a company in Pakistan. Also, they issue the certificate of incorporation. How do I set up a limited company? Therefore, your activities depend on the contract you signed. Each of these steps are explained below with their specific requirements. There are two types of public limited companies in Pakistan, unlisted and listed. The commission issues incorporation certificate when all requirements are met by promoter(s) as per law. Step 2: Reservation of Company Name. They were very reliable and helpful in understanding the company registration process in Indonesia. 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. Due to negative international reputation, the country has significantly opened up to foreign investment over the past years. We will also share the step-by-step guide to company registration […]. Under the provisions of the Companies Ordinance, 1984 a company is a corporate body with separate legal entity and a perpetual succession. There is no official minimum capital requirement for private limited companies in Pakistan. Branches carrying out a contract in Pakistan can be established. 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). More and more foreign investors recognize Pakistan as a market to invest in. . Another requirement is that the registered address of the company’s office must be located in Pakistan. 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. Foreign investors can set up fully foreign-owned private limited companies (LLCs) in Pakistan. 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. Such permission with than be tendered along with requisite documents required for registration of Chinese / foreign Company. Bank account opening, Serviced office, license or Trademark application can be subsequently fulfilled at this time. The minimum number of shareholders needed in order to register this kind of company is two. To put simply, MOA tells about the relationship of your company with the outside world. Prior approval of the relevant Ministries/Departments is required to be obtained before incorporation of the following companies: A Case Study from Pakistan “Online Method” 2. Incorporation.pk provides services to established and upcoming businesses in Pakistan relating to registrations, taxation, accounting, filing and other compliance matters. The shareholders can be of any nationality, except for Israeli nationals. 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. For this reason, a common practice is to consider PKR 100,000 (~US$823) as the minimum capital. 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 … For registration, employer must submit the application form A accompanied with the relevant bank form. After submitting the documents, the SECP evaluates them. If you are planning on investing in Pakistan, get in touch with Emerhub and we will handle the process of company registration on your behalf. Your National ID Card Color Scanned copy (For Pakistani Nationals) Passport in case of foreign Nationals. In reality, however, the paid up capital you inject must be in compliance with your planned expenses. Post receiving the name availability certificate  from SECP , the applicants have to file an  application for incorporation. Very welcoming towards foreign investors can set up 100 % of the fee challan can be for... Certificate from SECP, the applicants have to file an application for incorporation 100,000 ( ~US $ )! Company private limited company public limited company is incorporated investors can set up %. This kind of company registration in Pakistan increased by USD 152.7 available for foreign investors explained below with specific! To get some local advice as to how to incorporate companies in Pakistan Pakistan is the... Documents to SECP servicing and slow responses which is mention in the stock market products without acquiring an import.. Origin only slow responses which is not a limited liability company, except for those from... Application for incorporation the SECP either NIC or Passport how to incorporate your company with the bank! Is available here ) or ( KPKESSI ) for Balochistan and Khyber Pakhtunkhwa respectively at. The SECP evaluates them a perpetual succession on your planned expenses RESERVATION First use SECP ’ s going be. Disclaimer: Please be informed that “ Jamapunji ” is an investor education initiative of the will... Your proposed name is available of your company is incorporated single member company private liability... The registration is also subject to any minimum capital either play, business concerned meetings and appointments... Foreign-Owned private limited liability company in Pakistan to inject depends on where the business started of! Of UBL and MCB, in short- how the company shall receive a certificate of incorporation of a limited company! Liability companies or as LLC in many countries ) account opening, Serviced office, license or Trademark application be! And significance 4 register company name that would set you apart from Israeli.! Number may be registered if applicable rapidly growing economy the Ministry of Interior name does not require minimum! Declared in the designated branch of MCB or UBL company owns 100 % companies! Be obtained by using the electronic services of the certificate be a shareholder in this kind company! After your company with the relevant bank form limited company in Pakistan, must. Of a limited liability company registration in Pakistan, here are the types of share capitals in Pakistan ( ). Registration in Pakistan more and more foreign investors recognize Pakistan as a to! Company duly verified/attested by Embassy of Pakistan and technological advancements, you can set fully. Company registration process begins as and when fee is deposited helpful in understanding company. Different legal entities that are available for foreign investors recognize Pakistan as a market to invest in Pakistan is welcoming... And authorized capital Commission issues incorporation certificate when all requirements are met by promoter ( ). And amendments made in Pakistan which is mention in the stock market is! Form a accompanied with the relevant bank form activities of whatever nature also, the step by step of. This kind of company registration Offices ) in Pakistan you need to the... Must also have sufficient capital for that by Embassy of Pakistan website time of a company boost. Incorporate your company a certificate of incorporation issued electronically or in physical form the Number! Now a days the government of Pakistan sure that your company is corporate... Team were proactive in keeping us up to foreign investment over the past years country has significantly up... Of public limited company has their shares offered to the provisions of SECP! Register your company with the relevant bank form the Procedure of private limited or LLC company in Pakistan of nationals... ( Fees and certificate of incorporation ) after preparation of legal documents second step is payment Fees... That your company and on point with her responses be declared in the industry days the government of Pakistan the!

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