Process Of Company Registration In Pakistan
The process of company registration in Pakistan is not very complicated as compared to registration in other parts of the world, however to start the procedure and get incorporated successfully one has to go through the following procedure:
- Name Availability
Before starting the procedure for company registration in Pakistan, there is a requirement to make an application to the registrar of companies for the availability of name, which can be made online or in offline mode and normally takes 3 to 4 days.
- Preparation of Documents
After the confirmation of name availability, the incorporation procedure starts. Before submitting documents to SECP (Security and Exchange Commission of Pakistan) The following documents need to be prepared in order to successfully complete the process of company registration in Pakistan:
- Memorandum of Association
Memorandum of Association is the basic document which states all the objectives of the business carried out by the company and all other allied businesses which the company plans to carry out, e.g. the basic objective of company registration may be to engage in the business of a general order supplier or trading company, software or any other business.
- Articles of Association
Articles-of-Association is the basic document which states all the governing rules for the operating of the company e.g. how are directors going to operate, when and how General Meetings of the company will be conducted, etc.
- Form 1 (declaration of one of the directors of the company), Form 21 (the address of company where the office will be situated in Pakistan), Form 29 (the particulars of the directors of the company), and in case of SMC (single member company) Form S1 (Nomination of Nominee director) is submitted.
- Power of Attorney
Power of Attorney would be in favour of any person authorized to submit documents and carry out consultation with the company Registrar about different issues during company registration in Pakistan.
- Copies of CNICs of Directors
Copies of CNIC are of all of the Directors required, and in case of SMC the CNIC of Nominee Director and Alternative Nominee Director.
- Apply for Digital Signatures
After completion of all of the aforementioned process, apply for digital signature of all of the Directors of the company, which is issued by National Institutional Facilitation Technologies (NIFT). This can normally take 2 to 3 days.
- Submission of Documents and Collection of Certificate
The last step in the process of company registration in Pakistan is to submit all of the documents mentioned above and CNICs of all of the Directors, and in case of SMC (single member company) Nominee Director and Alternative Nominee Director, to the registrar of the companies. After scrutiny of the documents, certificate of incorporation of your new company is issued by Securities and Exchange Commission of Pakistan within 3 to 5 working days and thus the process of company registration with Security and Exchange Commission of Pakistan is completed with the issuance of this certificate.
For more information click here: http://courtingthelaw.com/2015/05/27/faqs/how-to-register-a-company-in-pakistan/
