Professional Documents
Culture Documents
Submitted by
Iman Nadeem
Amna shah
Submitted to
Dr. Zeeshan
Department
Lbs
Semester
08
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INCORPORATION OF A COMPANY IN PAKISTAN
Any three or more persons associated for lawful purpose may, by subscribing their names to the
Memorandum of Association and complying with the requirements of the Companies Act, 2017
form a public company and any two or more persons so associated may, in like manner, form a
private company.
If only one member forms a private company, it is called a single member company.
Promoters may adopt the model memorandum and articles of association available on the
following link:
The promotors will provide three proposed names in the order of priority, out of which any one
may be approved by the registrar.
Before applying for incorporation of company please check the name first at the links given
below to make sure that the proposed name complies with the following conditions as provided
under Section 10 of the Companies Act, 2017 read with Regulation 4 of the Companies
(Incorporation) Regulations, 2017;
Company incorporation brochure is available at the following link for necessary guidance.
ONLINE INCORPORATION
1.For online submission, the user shall create account (user name and password) under user
registration system of eServices and generate PIN for signing the application. The step wise
procedure for user registration in eServices is available at the following link: Log on to eServices
Portal using user name and password.
6. Make payment through credit card, debit card or using Mobile Banking, Internet Banking,
ATM services of 1 link bank).
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Take print out of PSID slip for Over the Counter (OTC) payments at any Branch of 1Link
member bank (see list above);
OR
You may also take print out of the fee challan and deposit in the selected branch of MCB or
UBL.
OFFLINE INCORPORATION
PROCESSING TIME
Application processing time is four (4) working hours. The complete application alongwith short
memorandum and articles of association submitted by 1200 hours on any working day shall be
disposed of on same day and submitted after 1200 hours on next working day.
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Process for the formation of mobile company
While choosing the name for your company – make sure, not to use the Prohibited terms. Any
deceptive or inappropriate words will not be approved by the SECP and the Validity of your
proposed selection of name will be scrutinized. So as to assure that, it is neither identical with the
existing companies’ name nor closely resembling. For that reason, you must abide by the criteria
laid down for naming the company, to get the possible approval by SECP.
A name availability certificate is required from SECP and for the purpose you may file
application. The fees for which could be paid using any bank challans at designated Muslim
Commercial Banks (MCB). After this, you come to a level of registration where the SECP ask
you to submit the following documents:
Declaration of compliance
Identification of office’s location
Particulars of directors, secretary, chief accountant, auditors and other
Copies of the Memorandum and Articles of Association with each member’s signature
A quick brief-on:
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Articles of Association lets know about the day-to-day proceedings within the company i.e.
what role CEO and directors would play, business concerned meetings and the appointments of
employees, in short- how the company will run.
The signature is granted by National Institutional Facilitation Technologies (NIFT) and can be
obtained using E-services of SECP. After the certificate of incorporation is issued, you may be
required to present a company seal, depending on which city you’re going to start your business
in. On the necessity point, it wouldn’t be wrong to mention that some states require a corporation
to have a corporate seal, which is also sometimes referred as company seal.
To register for Income tax, you’re supposed to apply for a National Tax Number (NTN) at the
tax facilitation of the Regional Tax Office (RTO) of the Federal Board of Revenue (FBR). The
requirements for this application are:
NTN form
Proof of registration
Memorandum and Articles of association
Bank account number
Copies of National Identity Cards (NICs) of companies’ Directors
An attestation of business address
All of these are to be submitted at the nearest tax facilitation counter of the RTO in
Pakistan.Sales tax, like the income tax can be registered for, by applying for a Sales Tax Number
(STN) at the tax facilitation centre of the Regional Tax Office (RTO) of the Federal Board of
Revenue (FBR). For the Professional tax, you’ll need to register with Excise and Taxation (ET)
Department of the District.
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5. Register with ESSI and EOBI
Depending on the location of your business, you’ll either need to register with
Under the Employees Old Age Benefits Institution (EOBI), insured employees are entitled to a
pension, upon retirement, invalidity in the case of disability, old-age grant and survivor’s
pension. Every industry or a commercial establishment with five or more employees has to be
registered with the federal Employees Old age Benefits Institution (EOBI).
To safeguard the Labor standard of the workers, every establishment other than one man shop
required to be registered with the District Chief Inspector of the Labor department in each
district. For registration, employer must submit the application form A accompanied with Bank
challan.
That was a detailed process to understand how the company can be registered? What are the
documents and steps involved to successfully register a business in Pakistan? It is highly
essential to understand the establishment procedure of your viable business idea or plan.
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