How to Register your Company in Pakistan in 2019

How to register a Company In Pakistan in 2019

The mindset of pakistani people is growing towards technology day by day, As someone is planning for starting his own business or a company for some specified services, He or she must have the knowledge iof registering their cmpany online with the Securities and Exchange Commission Of Pakistan(SECP)

Peoples usualy failed to even open their Company as they have no knowledge of How to register their Company In Pakistan.

So Today We are gonna guide you step by step How to Register Your Company in Pakistan. So let me tell you that SECP is the Only Body that has the powers to register your Company in Pakistan. It was founded in 1984 with its rules and regulations.

All teh Rules and Regulations were governed by the Companies ORdinance Act in 1984 while categorising the companies with their due types

  • Company limited by shares
  • company limited by guarantee
  • An Unlimited liability Company

Requirements for Company Registration in Pakistan

So if you have completed your idea phase of your business company, Now you ant to know how to register your Company in Pakistan, You should Know the Basic Six basic steps to follow in order to register your Company in Pakistan.

Choose a Unique Company Name

Choose a unique Company Name and get approved, So this is the first step in order to register your company in Pakistan. while going to choose the right name for your company, you should read the rules of the SECP that not to use any type of inappropriate words nor any descriptive words nor those words that are existing or identical to other companies. otherwise, SECP with directly reject your proposal.

Digital Signature and Company Seal

The second step is to get your company digital signature and a company seal.The Signatiure of your company can be obtained from the SECP electronic services and you can receive that from National institutional Facilitation technologies (NEST).

After certification of incorporation is issued from NIFT, you may require company seal that merely depend on the area where you are starting your company. because in some states, you may require a corporation to have a corporate seal for your company other may have a direct company seal in some states.

Pay Fees for incorporation and Get Register your Company

Now you should have the name availability certificate for SECP and for the purpose you have to fill the application. the fees which you have to pay using any bank challan of designated Muslim Commerical bank MCB. afte this all, you have to come to the registration process where you have to submit the following documents to SECP.

  • Identification of the Office’s location
  • declaration of compliance.
  • particulars of secretory, directors, authors and others.
  • Copies of Memos and articles with the signatures of all associate members.

Register for Income, Sales and Professional Taxes

The next and the most important step is to register your company for income tax. Now you are supposed to appy for National Tax Number NTN with the assurance of Regional Tax Office (RTO) of Federal board of Rvenue FBR.

The requirements are

  • NTN Form
  • Proof of Registration
  • Memos and articles association
  • bank account number
  • copies of NICs of Companies’directors and founders.
  • attestation of business address.
NTN Form
NTN Form

All of the documents are submitted to the nearest tax facilitation counter in your state of RTO in Pakistan.

There are tow types of tazes that are to be logged onto your business.these are

  • Sales tax
  • Professional taxes.

when you are applying for the registration for the sales tax you have to apply and fill the form for the sale tax number STN at the regional tax office of FBR

for the professional tax, you have to apply and network with the excise and taxation department of the district where you are starting your business company.

Register with the Labor Department

while registering your company you have to meet the human resources. In order to safeguard the standard of labor and establishment of keeping the proper standard of labor resource in your company. You will have to meet with the district chief’ Inspector of the labor department.

for registration, teh all the employees must have to fill up the registrations forms A with attache bank challan.

Register with ESSI and EOBI

now here is teh final step of your registration process of your company where you have to register your company with the desired institution depending upon where you are funning your company. Like.

  • Khyber Pakhtunkhwa Employee Social Security Institution (KPKESSI)
  • Punjab Employee SocialSecurity institution (PESSI)
  • likewise BESSI and SESSSI for Balochistana n Sindh

Under the Employee Old Age benefits institutions, EOBI. The Insured employees are entitled with a pension when he gets retired and invalidity of the pension in case of disability.

Every industry or commercial deaprtments should have five or more employees when are going to have registered with teh federal employee old age benefits institution (EOBI).

This was a detailed process of how to register your company with federal in Pakistan for the taxation and branding process and NTN verification? what are the steps to be followed in order to have a successful business platfrom in Pakistan?

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