Company Incorporation Process: How I can Register my Company in Pakistan with Ease?

If you are looking for information regarding company registration in Pakistan, then stop getting worried as you are at the right platform for all your company incorporation related queries. You need not to surf anywhere else because all your company registration-related confusions will be answered here at Befiler. 

You will learn about company types, its step-by-step registration process, and company registration fundamentals in Pakistan. We will guide you thoroughly on how to register your company in Pakistan. 

But before that, you need to look at few important aspects into company registration regulations in Pakistan. The government of Pakistan has greatly simplified the company incorporation process. The regulatory body for Company incorporation is Security and Exchange Commission of Pakistan (SECP) that that registers and oversees companies for regulatory purposes. 

Types of Companies: 

Following are the types of legal entities which are incorporated through SECP. 

1. Single Member Company.

2. Private Limited Company. 

3. Public Limited Company.

4. Limited Liability Partnership (LLP) 

1. Single Member Company: 

According to Companies Act 2017, a company whose registered shareholders are limited to only one member or a company who has only one member is a single member company.

2. Private Limited Company:

According to companies Act 2017, a company whose registered shareholders are limited to minimum two or more members, but less than 50 members or a company who has two or more members but less than 50 members.  

3. Public Limited Company:

A Company which can raise funds through public is public limited company. A business must have at least 3 members and 3 directors to register as public limited company. There is no limit of maximum members. A public limited company is further classified into two types: 

1. Listed

2. Unlisted 

1. Public Listed Company: 

This type of company’s stocks are listed on Pakistan Stock Exchange (PSE) 

2. Public Unlisted Company: 

This type of company’s stocks are not listed on PSE but can raise funds through private equity offering. 

Company Registration Process: 

Given below is the process for company incorporation in Pakistan  

1. Reservation of the Company Name: 

The first and the foremost thing which you have to do is to decide your company name, then check that name’s availability on the SECP’s website and also not to use the prohibited terms which are banned for company name registration and are available on the SECP’s website. Referring to the Companies Act 2017, Section 10; looking for company names and deciding on a name in compliance with the law will assist you in saving a bunch of time. When you are about to register your company name, firstly create your user account in the SECP e-services, secondly checkout for your desired company name availability and file the prerequisite application from the portal.        

3. Required documents: 

Single Member Company Registration: 

• Three Names of the proposed company
• Neat and Clear Scanned copies of CNIC’s of the Director / subscriber and nominee director.
• NTN of the proposed director / subscriber and nominee director
• Registered address / correspondence address of the proposed Company
• The principal business of the proposed company
• Nature of the business activity
• Authorized Capital
• Paid up Capital
• Value per share e.g.Rs. 10, Rs. 50 or Rs. 100 etc
• Name of the Chief Executive of the Proposed Company
• Telephone numbers and email ID of the proposed director
• Telephone numbers and email ID of the proposed director of the Company
• SECP login details of the proposed director / subscriber(if any)

2. Private Limited Company Registration: 

• Three Names of the proposed company
• Neat and Clear Scanned copies of CNIC’s of all the proposed Directors / subscribers
• NTN of the proposed directors / subscribers
• Registered address / correspondence address of the proposed Company
• The principal business of the proposed company
• Nature of the business activity
• Authorized Capital
• Paid up Capital
• Value per share e.g.Rs. 10, Rs. 50 or Rs. 100 etc
• Combination of Shares agreed to be subscribed by each director / subscriber
• Name of the Chief Executive of the Proposed Company
• Authorization from other subscribers. (For Offline only)
• Telephone numbers and email ID of all the proposed directors
• Telephone numbers and email ID of all the proposed directors of the Company
• Name of declarant person
• SECP login details of the proposed directors / subscribers(if any)

4. Collection of Incorporation Certificate with Other Certified True Copies: 

Once you have submitted all the above mentioned prerequisite documents, it will be evaluated by SECP. All the documents will be verified by them in order to ensure their credibility and preserve the official records in turn. The Incorporation Certificate will be issued to you upon completion of the incorporation process.    

5. Account Maintenance Certificate: 

When you have got your incorporation certificate and other documents from SECP, then you have to pay a visit to your dedicated bank for the purpose of corporate bank account opening while mentioning all the directors/stakeholders to its signatory. 

After getting done with the first phase, every director/stakeholder now have to deposit their declared monetary value as per the mutual agreement i.e. Paid up Capital, in their company bank account with their name.     

This is how your desired company registration gets completed under the domain of SECP.