A private limited company is the most licensed class in the business enterprise of Pakistan. Many people in Pakistan are prepared to start a firm, but they do not know how to do company registration. In Pakistan, the private company registration came according to the company ordinance act in 1984. But now, we serve the company ordinance 2017. Since 1984, it is recognized as one of the most advised types of business corporate services. SECP is the platform through which we register a PLC.
The First Step in the company registration for corporate services in Pakistan is to make an application to the registrar for confirming that the name with which the owners proposed to register the company is available or not. Companies Ordinance has designated specific management of what can be a suitable name. However one of the most critical issues in name availability is that the name demanded is already booked or is very closely resembling with the name of the company already registered. It is accordingly requested to always plan for two to three names so that a new name can be applied in case the name demanded is not available for your corporate services.
You will need to file the following documents during the process of company registration. Start drafting your Memorandum and Articles of Association at the same time as you send off your name availability request.
THE MEMORANDUM OF ASSOCIATION:
Contains the necessary conditions upon which the company is allowed to operate. It is the document that commands the connection between the company and the outside. It is one of the most valuable reports and must be planned with consideration.
ARTICLES OF ASSOCIATION:
Along with the Memorandum of Association form the company’s structure, defines the duties of the directors, the kinds of business to be undertaken, and how the shareholders exercise control over the board of administrators. For your corporate services or company registration, you may need to hire a professional lawyer to draft those for your appropriate business.
In the online business registration process, the observer to your documents will be NIFT and you will need to get a digital certificate from NIFT for each director of the company to electronically sign all the documents including Memorandum, Sections and other reports. You should instantly send the application for digital certificates to NIFT after receiving your Name Reservation Certificate from SECP.
For company registration, the affiliation fee is pegged to your share capital and you can calculate it online using the Incorporation Fee Calculator.
You will have to upload the deposit receipt before you can submit the method. Keep the offline payment slip in a secure place or publish the online receipt. You will need it later.
ONLINE PAYMENT: After finishing the previous steps, you will have to submit the method, and then it will arrive in the online payment section of e-Services from where you can make the online fee.
The last step of company registration in Pakistan is the enrollment with the Federal Board of Revenue (FBR) and issuance of a national tax number (NTN). A business tax registration number may be listed if suitable.
After doing the company registration, you will receive the registration documents from the office. So, after that, the next step will be NTN It will help you in opening a bank account. After company registration, you may require to register your corporate services with some other concerned authorities such as assessment departments, food authorities, chamber of business, custom office, Pakistan software organization committee, Pakistan engineering council, etc. It depends upon your business type. You may contact our experts to get a discussion about your company registration in Pakistan.