Sole Proprietorship

What is sole proprietorship?

A “sole proprietorship” is a form of doing business where one person owns and runs a corporation under a distinct label, hence this class of operation is the most widespread in Pakistan. It’s because sole proprietorship is more even effortless to form, few legal formalities, low expense rather than a company.

What to do next ?

After doing registration, you will receive the registration documents from the department. So, after that, the next step will be NTN It will help you in opening a bank account.
After registration, you may require to register your business with some other concerned departments such as taxation departments, food departments, chamber of commerce, custom department, Pakistan software engineering board, Pakistan engineering council, etc. It depends upon your business type. You may contact our experts to get a consultation about your business registration in Pakistan.

How to open a bank account?

After registration of the company, you will proceed for a bank account opening. To open a bank account, you will need a NTN. You will have to take the NTN and registered documents of the company.

What Are The Requirements For Sole Proprietorship?
  • Proposed Business Name
  • NTN
  • Office Address
  • Principle line of Business

Do I need a GST ?

Then it is mandatory for you to get a GST registration number. Otherwise, it will be a violation of the law. But, you don’t have to worry about that. We will provide you complete consultation about business formation. Here is a complete guide of GST.

If your business

  • Has a turnover of more than 10 million
  • Utility bills exceed 8 lac
  • Has different branches
  • Is in a shopping mall

If you are a

  • Trader
  • Wholesaler/Distributor
  • Dealer
  • A service provider (courier, hotel, shipping, etc)

Do I need to do PSEB Registration ?

So you should do PSEB registration. For call center it is mandatory otherwise you can not operate in Pakistan, But, if you have an IT company then you should also register, so it will allow you to avail the tax exemption. We offer consultation for all kinds of business, so contact us now and we will give you a complete guide.

If you have a

  • Call center
  • IT Company

Do I need to do PEC Registration?

Do I need to do PEC Registration?

If you have a business-related to engineering, then you have to doPEC registration. Otherwise, you can not undertake your work.

Is the Chamber Of Commerce needed?

If you have a business of trading, so the chamber of commerceis mandatory for you. Also, if you want to apply for a business visa, so you have to get it.

How to open a bank account?

After registration of the company, you will proceed for a bank account opening. To open a bank account, you will need aNTN. You will have to take the NTN and registered documents of the company.

For more information about Private Limited Companies, such as it’s benefits, disadvantages, and history you should read our blog! We are committed to giving you a complete guide and awareness. Starting from company name search to registration, incorporation, and further processes we are always here! If you want to make a Sole Proprietorship, you are just a call away from that. So, take out your phone and dial now: 03222812976 If you want to have a meeting, you can visit our office from noon to 7 PM (Pakistani time)! We are open every day except Sundays. Also, you should know that we won’t ever overburden our clients. Spectrum Consultancy is a combination of quality and cheapness.


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