How to register company in Pakistan

A Comprehensive Guide to Company Registration in Pakistan

Are you looking to start a business in Pakistan? The process of registering a company may seem daunting, but with the right guidance, it can be a relatively straightforward endeavor. Here, we will break down the steps to register your company in Pakistan, making it easy for you to understand and navigate the process. Let’s get started!

Step 1: Gathering Essential Documentation

Before embarking on your company registration journey, you’ll need to gather some critical documentation. This includes information on the shareholders, directors, and the company itself. Ensure you have the following:

• Phone numbers
• Email addresses
• CNICs (Computerized National Identity Cards)
• Passport or NICOPs (National Identity Card for Overseas Pakistanis)

Step 2: Creating Logins for Directors and Subscribers

For national and foreign directors or subscribers, you’ll need to create logins with the appropriate documents. For foreign directors, make sure to provide attested soft copies of their passports and photos, along with their email addresses and phone numbers.

Step 3: Applying for Company Name Reservation

Next, you must apply to the Securities and Exchange Commission of Pakistan (SECP) to reserve your company name. Ensure that the name is unique and doesn’t resemble any other registered company. It should also comply with the Companies Incorporation Regulations. SECP typically reserves your chosen name within one working day if there are no objections.

Step 4: (For Foreign Nationals)

Foreign nationals will need to obtain a No Objection Certificate (NOC) from the Pakistani embassy in their home country to proceed with company registration.

Step 5: Submitting Required Documents

Once SECP has approved your company name, it’s time to submit the essential documents. These include the Memorandum of Association, Articles of Association, CNICs or passports, NOC (if applicable), and other relevant forms.

Step 6: Receiving the Company Incorporation Certificate

After submitting the required documents, SECP will review your application. Upon successful review, SECP will issue your company incorporation certificate. If your company has foreign national directors or subscribers, SECP will also apply for a NOC from the Interior Ministry. In most cases, your company incorporation certificate will be issued within one working day. However, if the NOC application is rejected by the Interior Ministry, SECP may deactivate the company.

Step 7: Acquiring the National Tax Number (NTN)

To meet tax registration requirements, you will need to obtain a National Tax Number (NTN) from the Federal Board of Revenue (FBR). If foreign nationals are part of your company, their personal NTN(s) must be acquired first. The FBR typically issues the NTN on the same day if all documentation is in order.

Step 8: Opening a Bank Account

To facilitate business transactions, you should open a bank account for your company. This process can typically be completed in one day.

Step 9: Share Capital Transfer

If necessary, you will need to submit Annexure 7, confirming the transfer of share capital. This step can also be completed on the same day.

Additional Steps (Not Compulsory)

While the above steps are mandatory for company registration in Pakistan, there are some additional steps you may consider:

Step 10: Sales Tax Registration

If your business involves sales of taxable goods or services, you may need to register for sales tax.

Step 11: Chamber of Commerce Registration

For businesses requiring Chamber of Commerce registration, this process may take around two weeks. You’ll need to submit all the issued documents by the authorities to complete this step.

Step 12: Weboc Registration

For businesses involved in exports and imports, consider Weboc Registration with Pakistan Customs Services. This step is essential if your business deals with international trade.

In conclusion, registering your company in Pakistan involves several steps, but by following this comprehensive guide, you can simplify the process and ensure compliance with all legal requirements. Remember, the timeline for registration and approval can vary, but with proper documentation and adherence to regulations, your business will be up and running in no time. Good luck on your entrepreneurial journey!