In This Post:
How to Reserve Business Name Online
How to Register a Company Online
Online Company Name Reservation
Required Company Information
How Much Money is Needed to Register a Business
Documents Required for Business Registration
Company Incorporation Certificate
Registering Your Company with FBR
List of Company Registration Offices
FAQs About Registering a Company
Established to regulate and modernize the corporate sector, the Securities and Exchange Commission of Pakistan (SECP) has been given due importance in terms of the digitization initiatives recently introduced by the Government of Pakistan. This state-owned regulatory agency is now digitally powered by a fully-featured online portal, which aims to facilitate the business community in the country.
So, if you are an aspiring entrepreneur, who is planning to register a company in Pakistan, you can now easily apply for the process online instead of going through the hassle of submitting a physical application. Wondering how? We’ve got you covered. In this blog, we are going to detail both online and offline processes for business registration in Pakistan as per SECP guidelines.
Now, without further ado, let’s get started!
How To Register A Company in Pakistan: Step-By-Step Guide
The process of company registration in Pakistan might take around 1.5 months to get completed. It is based on a few very important steps, each of which has its own specific requirements that have been elaborated below.
Business Name Reservation
It is the first and most important step for the incorporation of a company. You can either go for an online process or submit an application physically. Details about online application and process are available at the official website of SECP.
Creating an Account on SECP Online Portal
- So, if you want to register your business in Pakistan online, you would require you to sign up on the SECP’s e-portal.
- As a new user, you need to click on the “Sign up for National or Foreign/POC holder” option.
- Now you need to fill out the form with the required information.
- After filling out the form, you will be provided with a 4-digit pin number via email and SMS.
- It is important to mention here that the CNIC/passport number and password provided while signing up on the portal will be your credentials to access the portal.
Select the Option of Name Reservation and Company Incorporation
- Upon successfully logging into the portal, you will have to click on “Name Reservation and Company Incorporation” from the available options.
- Now propose three names of your company. The name should be relevant to the nature of your business.
- Define the nature of your business and its operations by selecting the relevant option from the drop-down menu.
- Select the mode of payment from the given option to make payment through debit/credit card, banks with 1link facility, Easypaisa mobile wallet, ATM, and mobile/internet banking.
Provide Your Company Information and Contact Details
In this particular section, enter your company information and addresses of its registered establishments/offices, telephone number, email address, and also define its field of business.
What Is the Capital Requirement to Register a Business in Pakistan?
A company cannot raise more or less capital as defined by the memorandum of its incorporation. It is known as the authorized capital. The minimum amount of authorized capital for the incorporation and registration of a company in Pakistan is PKR 100,000.
A total incorporation fee of PKR 1,800 is charged in the case of online submission and PKR 3,500 for a physical application. It is the minimum incorporation fee charged on the business capital worth PKR 100,000. However, the fee may vary according to the amount, location, size, and/or nature of the business.
Process for Physical Application for Company Incorporation
- The step-by-step procedure for the physical submission of the application to SECP is as follows
- First of all, download by clicking on the given link and fill out the required application form.
- You need to submit the application to a registrar by visiting your nearest company registration office, which can be found at multiple locations in nine different cities. Details of Company Registration Offices (CROs) established by SECP across the country have been provided at the end of this blog.
- If your application satisfies the required conditions, the registrar will then issue a name availability letter. From the date of issuance of the letter, the name will be reserved for sixty days (two months), which is enough time window to complete the process of incorporation of a company in Pakistan.
Pro Tip: Favouring an online application over the physical one may be a smart decision for you as it may cost you less than half of the amount charged for the submission of a physical application. For example, if you submit an application online, you will be charged PKR 200.
On the other hand, if you go with the manual process, you may have to pay PKR 500 as charges for a bank challan made in the favour of the Securities and Exchange Commission of Pakistan (SECP). Furthermore, as discussed, the incorporation fee also gets doubled if you are registering your business with the help of a physical application. It seems like the authorities are determined to promote the concept of e-governance in Pakistan by discouraging conventional practices
Submission of Documents of Incorporation
Once your company name gets approved, the second important step you need to take to register a company in Pakistan is the submission of incorporation documents to the Security & Exchange Commission of Pakistan (SECP), which are listed below.
- Memorandum of Association
- Articles of Association
- Scanned version of the Directors’ CNICs
- Scanned Receipt of Bank Deposit (In case of Offline Payment)
- Authorization by the subscribers for the filing of documents
- Registration/Filing Fee
Memorandum of Association: A document that contains details about your business sector
Article of Association: A document that specifies the responsibilities of the company’s directors.
Note: The above-mentioned document can also be submitted using SECP’s e-portal in PDF Format. Company registration fee in Pakistan can also be paid online.
Issuance of a Digital Signature & Certificate of Incorporation
Once you get done with document submission and payment of company registration fee in Pakistan, SECP evaluates and verifies the validity of all the submitted documents. Afterwards, the National Institutional Facilitation Technologies (NIFT) grants a digital signature for your business, which can be acquired through SECP’s e-portal.
Alongside digital signature, you’ll also need to fetch the certificate of incorporation from NIFT, for which you are required to submit a detailed presentation regarding your company’s nature of business and operations. However, the requirements in this step may vary from case to case.
Register Your Business with FBR for Taxation
This is a very crucial and one of the last few steps in the process of company registration in Pakistan. So, in order to register your business with the Federal Board of Revenue (FBR) for income tax, you need to apply for the National Tax Number.
Following are the mandatory requirements that you need to submit along with your application.
- National Tax Number (NTN) form
- Proof of Your Company’s Registration
- Memorandum and Articles of Association
- Bank Account Number
- Copies of Computerised National Identity Cards (CNICs) of the directors of the company
- Verified Business Address
Submit your application at your nearest Regional Tax Office (RTO) tax facilitation counter of the Federal Board of Revenue.
To register your business for Sales Tax, you need to acquire a Sales Tax Number (STN) and undergo a similar process. However, the procedure for Professional Tax is a bit different, for which you will need to register your business with Excise and Taxation (ET) Department.
List Company Registration Offices (CRO’s) of SECP Across Pakistan
|City||Company Registration Office Address||Contact|
|Islamabad||NIC Building, 63 Jinnah Avenue Blue Area,||051 9207091-4|
|Faisalabad||2nd Floor, FCCI Building, East Canal Road||041 9230264|
|Karachi||State Life Building No 2,4th Floor, I.I. Chundrigar Road||021 99213271-2|
|Lahore||3rd &4th Floor, Associated House, 7-Egerton Road||042 99204962-6|
|Multan||63-A, 2nd Floor, Nawa-I-Waqt Building, Abdali Road||061 9200530|
|Peshawar||1st Floor, State Life Building, The Mall, Cantt||091 9213178|
|Quetta||Ground Floor, Aiwan-i-Mashriq Building, Shara-e-Hali||081 2844136|
|Sukkur||House No 4, Block A, Smchs, Airport Road||071 5630517|
|Gilgit||Adjacent To NHA Office, Ayub Colony, Jattial||05811 922572|
Frequently Asked Questions About Registering a Company in Pakistan
How can I register a small business in Pakistan?
No matter how small or big your business is, you have to follow all the aforementioned steps to get it incorporated with SECP.
How much does it cost to register a company in Pakistan?
To register a business, you need to start it with the authorized capital of at least PKR 100,000, for which SECP charges you PKR 1,800 for online application and PKR 3,500 for offline application submission. As discussed, the incorporation fee basically depends on the capital amount, location, size, and/or nature of the business.
How do I register my business with FBR?
Navigate to the section of this blog in which we have discussed the detailed process on how to register a business with FBR to find the answers you are looking for.
So, this was our guide on how to register a company in Pakistan. If you have any queries regarding any of the steps involved in the procedure of business registration elaborated above, feel free to reach out to us at email@example.com.
On a side note, you might also want to take a look at one of our previous blogs in which we have given you a comprehensive guide on how to file income tax returns for businesses in Pakistan.
Moreover, you can also subscribe to our newsletter to get all the exciting updates from our blog section straight to your inbox. To read more informative pieces on different types of laws and taxes in Pakistan and their implications, log on to Zameen Blog, the country’s best lifestyle blog.