COMPANY REGISTRATION

Company registration services in Pakistan

At Wish Law Services, we have handled various company registrations in Pakistan. We can proudly say that with our long experience of over 13 years in helping our clients trademark and register their companies, we have handled the registration processes of about every industry ranging from healthcare companies to manufacturing companies and everything in between, in different cities including Lahore, Karachi, and Islamabad. Below is the step-by-step procedure to get your company registered in Pakistan.

The step-by-step guide for company registration

Registering your company in Pakistan will strengthen your identity and add reliability to your business. Potential customers will be able to recognize you as an authentic company. It also attracts private investors or sponsors. A bank will also not open a business account for your company if your firm is not registered with the government.

Regarding company registration services, Wish Law Services is a law firm that is determined to help all kinds of businesses in the process of company registration. The vital process of registering your company with the government is a tricky one, hence our professionals are here to assist you. However, we have given a brief and straightforward step-by-step guide on company registration in Pakistan.

Step:1

Getting your company name
approved

Step:2

Submitting necessary
documents

Step:3

Certificate of Incorporation

Choosing a unique company name is the very first step when you’re setting up and registering a business in Pakistan. It’s necessary to come up with a one-of-a-kind company name that will set you apart from other companies. It’s important to ensure that you do not copy the exact name or logo design of another organization. You should cling to all the rules and make sure that you do not use any forbidden or inappropriate words when you decide to name your company.

Once the company name has been approved, the next stage is to submit all the necessary required legal documents to the “Securities and Exchange Commission of Pakistan” (SECP) to get your business registered with the government.

After the submission of documents, The SECP reviews them. They double-check their authenticity. If there is no objection, on average, SECP will take around 7 working days to complete the process. The National Institutional Facilitation of Technologies (NIFT) also issues a digital signature for your business, which is obtained through the SECP. These higher authorities are responsible for the issuance of the certificate of incorporation. A company presentation may be required. This majorly depends on the sources of the company. 

Step:4

Depositing shares

After obtaining the certificate of incorporation, your company has been registered, Now the shareholders need to deposit their shares in the company’s bank account in the proper amounts.

Step:5

Registration of income and
sale taxes

Before a company can be officially formed in Pakistan, the Federal Board of Revenue (FBR) and a national tax number (NTN) need to be issued. A sales tax registration number should also be obtained if essentially required.

Step:1

Getting your company name approved

Choosing a unique company name is the very first step when you’re setting up and registering a business in Pakistan. It’s necessary to come up with a one-of-a-kind company name that will set you apart from other companies. It’s important to ensure that you do not copy the exact name or logo design of another organization. You should cling to all the rules and make sure that you do not use any forbidden or inappropriate words when you decide to name your company.

Step:2

Submitting necessary
documents

Once the company name has been approved, the next stage is to submit all the necessary required legal documents to the “Securities and Exchange Commission of Pakistan” (SECP) to get your business registered with the government.

Step:3

Certificate of Incorporation

After the submission of documents, The SECP reviews them. They double-check their authenticity. If there is no objection, on average, SECP will take around 7 working days to complete the process. The National Institutional Facilitation of Technologies (NIFT) also issues a digital signature for your business, which is obtained through the SECP. These higher authorities are responsible for the issuance of the certificate of incorporation. A company presentation may be required. This majorly depends on the sources of the company. 

Step:4

Depositing shares

After obtaining the certificate of incorporation, your company has been registered, Now the shareholders need to deposit their shares in the company’s bank account in the proper amounts.

Step:5

Registration of income and sale taxes

Before a company can be officially formed in Pakistan, the Federal Board of Revenue (FBR) and a national tax number (NTN) need to be issued. A sales tax registration number should also be obtained if essentially required.

How can you start company registration in Pakistan?

Although you may be able to deal with this process alone, no legislative procedure is recommended to be done without the assistance of professional lawyers.

At Wish Law Services, we have the expertise and professionalism required to register your company in Pakistan, you can trust us.

SECP company types in Pakistan

There are a few different types of legal companies in Pakistan. While starting a business, you need to choose from the types of legal companies possible in Pakistan and then decide on your business structure. 

Private Limited Company

In Pakistan, a private limited company (PVT) is a recognized business system. Owning a private company is completely legal, as long as you follow the proper process of setting up your business. According to the Companies Act 2017, only two or more (50 max) people can form a private limited company.

A major necessity is that the registered address should be in Pakistan. Moreover, registering a private limited company takes about six weeks on average. The registration also needs to be approved by the Board of Investment, and getting a clearance from the Ministry of Interior is also necessary.

Single-member Company

Anyone can start a single-member company (SMC) in Pakistan. Single-member cooperation is a private corporation with only one person in charge, meaning only one man is legally obliged. Single-member corporations have made it easier for sole businesswomen and men to achieve corporate status and success, which has allowed them to restrict their proprietor’s legal liability.

All shares are placed with the single director, but the person is required to nominate two individuals as nominees who in the event of the death of the owner shall be responsible for transferring their shares to the legal heirs of the deceased as the law states and manage the affairs as a trustee.

Public Limited Company

Under the Companies Ordinance Act of 1984, two types of public limited companies can be registered:

Listed public companies

A listed public company requires having a minimum of 7 directors before it can offer shares to the general public or trade them on the stock market. A business needs to meet the Pakistan Stock Exchange’s listing requirements to be listed on the Pakistan Stock Exchange. 

Unlisted public companies

A public corporation is formed by a minimum of three or more people who want to start a firm that tends to sell shares to the widespread public. Although a public firm needs to align with certain legal requirements, it can still sell its stock to the general public, however, it can’t be sold on the stock exchange. An unlisted company can issue shares to the general public on its counter.

You can choose the type of company you want based on what fits your needs, if you find yourself confused, Wish Law’s expert consultants will help guide you. Contact us at +92 334 0245951 or info@wishlaw. com for more information!